• Market Cap: $1,673,165,670,030.57
  • 24h Vol: $94,168,867,971.59
  • BTC Dominance: 50.62%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Ethereum founder speaks against transferable governance, community responds

Jon Hartney by Jon Hartney
July 29, 2022
in Bitcoin, Blockchain, Business, Market
0
Multicoin Capital raises $430M for new crypto startup fund
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Vitalik Buterin wrote that supporting DAOs with transferable governance tokens is contradictory and enables the power-hungry.

The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum (ETH) founder Vitalik Buterin. 

In a tweet, Buterin brought up an old adage pointing out that power-hungry individuals are not suitable to lead. The Ethereum founder highlighted that the saying can be applied to DAOs and argued that transferable governance tokens in DAOs contradict the whole point of DAOs. Buterin noted that if governance can be transferred, it enables those who are after power.

Related articles

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

December 7, 2023
Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

December 7, 2023

While the Ethereum founder presents a valid point, some reacted with contrasting opinions. In a reply, Twitter user Muki pointed out that it’s inevitable to delegate decision power. According to the community member, expecting everyone to participate is impossible, and a voluntary delegation of decision power is better than making uninformed decisions or not participating at all.

Contributing to the discussion, Twitter user Willyogo wrote that holding transferable governance tokens does not equate to wanting to rule people. However, the community member also said there’s definitely room for improvement for DAOs in terms of voting mechanics.

Twitter user Vagobond also chimed in, saying that having fully recallable delegates is a way to move forward. In this idea, the delegates who were picked could instantly lose their authority the moment they stop representing those who delegated votes to them.

While others focused on governance mechanics, some pointed to the use of blockchain-based technologies like picking important positions in a DAO using verifiable randomness. Another community member suggested randomly selecting token holders and rotating when the selected holder does not show on-chain activity.

Related: Lido DAO: Ethereum’s biggest Merge staker soars 400% in July — but technicals flash warning

In the recent Ethereum Community Conference held in Paris, Web3 advisor Hilary Kivitz discussed DAOs and how they can fight off hostile takeovers. According to Kivitz, there are solutions such as adding poison pills into smart contracts to dilute the votes of exploiters.

Meanwhile, in a recent interview with Cointelegraph, Alex Tapscott mentioned that DAO developments are something to look out for during the bear market. Tapscott highlighted that DAOs have the potential to replace traditional organizations in organizing resources.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

by Jon Hartney
December 7, 2023
0

A dormant Ethereum whale has resurfaced, moving their 39,260 ETH worth approximately $875 million According to data from Lookonchain, this...

Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

by Jon Hartney
December 7, 2023
0

Since October 2023, Solana (SOL), often called the Ethereum killer, has seen significant network and price action growth  However, everything...

Cardano Could See 70% Rally To $0.75, Analyst Predicts When

Cardano Could See 70% Rally To $0.75, Analyst Predicts When

by Jon Hartney
December 7, 2023
0

An analyst has explained how Cardano may be heading towards a rally to $075 soon if the historical pattern is...

Why Bitcoin’s Staggering 260% YTD Surge Could Be Just The Start

Why Bitcoin’s Staggering 260% YTD Surge Could Be Just The Start

by Jon Hartney
December 7, 2023
0

The price of Bitcoin slowed down its ascend following a week of smashing critical resistance levels However, the rally is...

Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million

Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million

by Jon Hartney
December 7, 2023
0

A crypto pundit and Bitcoin maximalist, Mark Harvey, has explained why he believes the foremost cryptocurrency Bitcoin, is far off...

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Ripple Vs. SEC: Epic Battle Unfolds Over $770M Disgorgement Demand

Ripple Vs. SEC: Epic Battle Unfolds Over $770M Disgorgement Demand

November 11, 2023
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

December 7, 2023
Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight

December 7, 2023
Cardano Could See 70% Rally To $0.75, Analyst Predicts When

Cardano Could See 70% Rally To $0.75, Analyst Predicts When

December 7, 2023
Why Bitcoin’s Staggering 260% YTD Surge Could Be Just The Start

Why Bitcoin’s Staggering 260% YTD Surge Could Be Just The Start

December 7, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange December 7, 2023
  • Solana Ascending Triangle Formation Anticipates Price Surge, $90 Target In Sight December 7, 2023
  • Cardano Could See 70% Rally To $0.75, Analyst Predicts When December 7, 2023
  • Why Bitcoin’s Staggering 260% YTD Surge Could Be Just The Start December 7, 2023
  • Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million December 7, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$43,293.00-1.70%
  • ethereumEthereum(ETH)$2,344.763.60%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$231.070.08%
  • rippleXRP(XRP)$0.642.02%
  • solanaSolana(SOL)$65.101.49%
  • usd-coinUSDC(USDC)$1.00-0.06%
  • staked-etherLido Staked Ether(STETH)$2,341.423.33%
  • cardanoCardano(ADA)$0.4562802.48%
  • dogecoinDogecoin(DOGE)$0.094440-4.63%
  • avalanche-2Avalanche(AVAX)$26.59-2.03%
  • tronTRON(TRX)$0.103888-1.46%
  • chainlinkChainlink(LINK)$15.30-2.79%
  • polkadotPolkadot(DOT)$6.232.74%
  • matic-networkPolygon(MATIC)$0.840.07%
  • ToncoinToncoin(TON)$2.22-1.90%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$43,246.00-1.68%
  • shiba-inuShiba Inu(SHIB)$0.000010-3.09%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.160.38%
  • litecoinLitecoin(LTC)$73.58-0.18%
  • daiDai(DAI)$1.000.06%
  • bitcoin-cashBitcoin Cash(BCH)$245.46-1.41%
  • uniswapUniswap(UNI)$6.181.13%
  • leo-tokenLEO Token(LEO)$3.811.32%
  • stellarStellar(XLM)$0.1252040.41%
  • okbOKB(OKB)$56.91-0.55%
  • moneroMonero(XMR)$176.502.65%
  • ethereum-classicEthereum Classic(ETC)$21.695.67%
  • cosmosCosmos Hub(ATOM)$9.85-2.28%
  • KaspaKaspa(KAS)$0.129195-8.10%
  • true-usdTrueUSD(TUSD)$1.00-0.02%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • crypto-com-chainCronos(CRO)$0.093661-3.73%
  • filecoinFilecoin(FIL)$4.994.02%
  • hedera-hashgraphHedera(HBAR)$0.068154-2.08%
  • internet-computerInternet Computer(ICP)$5.001.67%
  • nearNEAR Protocol(NEAR)$2.23-6.53%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • lido-daoLido DAO(LDO)$2.487.31%
  • AptosAptos(APT)$7.883.87%
  • MantleMantle(MNT)$0.640.25%
  • thorchainTHORChain(RUNE)$6.46-1.27%
  • immutable-xImmutable(IMX)$1.508.94%
  • optimismOptimism(OP)$2.0617.44%
  • vechainVeChain(VET)$0.024877-3.43%
  • BittensorBittensor(TAO)$312.09-7.35%
  • quant-networkQuant(QNT)$110.20-1.94%
  • binance-usdBUSD(BUSD)$1.00-0.13%
  • the-graphThe Graph(GRT)$0.162856-2.17%
  • injective-protocolInjective(INJ)$17.922.27%
  • ArbitrumArbitrum(ARB)$1.156.83%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • aaveAave(AAVE)$98.260.21%
  • CelestiaCelestia(TIA)$9.81-6.26%
  • blockstackStacks(STX)$0.99-8.11%
  • Rocket Pool ETHRocket Pool ETH(RETH)$2,564.653.57%
  • render-tokenRender(RNDR)$3.58-6.21%
  • makerMaker(MKR)$1,437.00-0.64%
  • elrond-erd-2MultiversX(EGLD)$48.96-1.11%
  • WEMIXWEMIX(WEMIX)$3.8020.31%
  • algorandAlgorand(ALGO)$0.1599922.48%
  • havvenSynthetix Network(SNX)$3.71-1.05%
  • terra-lunaTerra Luna Classic(LUNC)$0.000204-8.38%
  • flowFlow(FLOW)$0.780.72%
  • ORDIORDI(ORDI)$51.94-22.02%
  • First Digital USDFirst Digital USD(FDUSD)$1.000.16%
  • theta-tokenTheta Network(THETA)$1.05-2.78%
  • bitcoin-cash-svBitcoin SV(BSV)$51.34-0.70%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • axie-infinityAxie Infinity(AXS)$7.282.83%
  • the-sandboxThe Sandbox(SAND)$0.4582230.88%
  • fantomFantom(FTM)$0.337941-0.36%
  • decentralandDecentraland(MANA)$0.4945542.75%
  • galaGALA(GALA)$0.0310604.93%
  • kucoin-sharesKuCoin(KCS)$9.32-0.71%
  • kavaKava(KAVA)$0.885.74%
  • iotaIOTA(IOTA)$0.289410-1.84%
  • eosEOS(EOS)$0.773.35%
  • neoNEO(NEO)$12.030.42%
  • BitDAOBitDAO(BIT)$0.592.96%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.66-0.43%
  • tezosTezos(XTZ)$0.901.70%
  • heliumHelium(HNT)$5.2121.66%
  • mina-protocolMina Protocol(MINA)$0.74-0.52%
  • BeamBeam(BEAM)$0.0160681.30%
  • bittorrentBitTorrent(BTT)$0.000001-20.94%
  • Bitget TokenBitget Token(BGB)$0.52-0.20%
  • klay-tokenKlaytn(KLAY)$0.2185340.73%
  • usddUSDD(USDD)$0.99-0.62%
  • conflux-tokenConflux(CFX)$0.1995061.35%
  • Frax EtherFrax Ether(FRXETH)$2,322.132.54%
  • xdce-crowd-saleXDC Network(XDC)$0.049957-3.33%
  • SuiSui(SUI)$0.663.96%
  • Tokenize XchangeTokenize Xchange(TKX)$8.400.38%
  • CheeleeCheelee(CHEEL)$12.460.35%
  • fraxFrax(FRAX)$1.00-0.22%
  • frax-shareFrax Share(FXS)$8.857.73%
  • chilizChiliz(CHZ)$0.0856103.90%
  • ecasheCash(XEC)$0.000033-5.16%