Mark Mason
Well-known member
Why a Decentralized Currency Without Governance Isn’t Trustless
A major selling point of cryptocurrencies is their purported trustless nature: you don’t have to trust any one person or entity in order to use them. Generally speaking, most cryptocurrencies employ a trustless and permissionless model. However, most also lack an effective governance mechanism. While some old-school crypto fans may think that governance is optional, in reality it’s the only thing that can actually preserve the original sell point of cryptocurrency, its trustlessness, past its initial release.
Read more: https://www.dashforcenews.com/why-a-decentralized-currency-without-governance-isnt-trustless/
A major selling point of cryptocurrencies is their purported trustless nature: you don’t have to trust any one person or entity in order to use them. Generally speaking, most cryptocurrencies employ a trustless and permissionless model. However, most also lack an effective governance mechanism. While some old-school crypto fans may think that governance is optional, in reality it’s the only thing that can actually preserve the original sell point of cryptocurrency, its trustlessness, past its initial release.
Read more: https://www.dashforcenews.com/why-a-decentralized-currency-without-governance-isnt-trustless/