• Market Cap: $1,145,599,681,364.05
  • 24h Vol: $29,676,485,779.66
  • BTC Dominance: 44.82%
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

US Justice Department charges two men in Mt. Gox Hack

US Justice Department charges two men in Mt. Gox Hack

June 9, 2023
Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

June 9, 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

US Justice Department charges two men in Mt. Gox Hack

US Justice Department charges two men in Mt. Gox Hack

by Jon Hartney
June 9, 2023
0

The Justice Department claims Alexey Bilyuchenko and Aleksandr Verner took control of a Mt Gox server and stole 647,000

Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

by Jon Hartney
June 9, 2023
0

Traditional finance companies are boosting their engagement with Ethereum-based real-world asset protocols, resulting

DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined

DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined

by Jon Hartney
June 9, 2023
0

The top-100 DeFi tokens by market capitalization had a bearish week as the total value locked in these protocols fell

Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires

Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires

by Jon Hartney
June 9, 2023
0

Bitcoin Argentina, an NGO dedicated to bitcoin adoption in the country, is hosting an event that promises to be a

WikiLeaks Founder Julian Assange Facing Extradition After Losing Challenge

WikiLeaks Founder Julian Assange Facing Extradition After Losing Challenge

by Jon Hartney
June 9, 2023
0

The loss is an indication that further challenges will be difficult, although Assange plans to renew his appeal next

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
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
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
US Justice Department charges two men in Mt. Gox Hack

US Justice Department charges two men in Mt. Gox Hack

June 9, 2023
Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave

June 9, 2023
DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined

DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined

June 9, 2023
Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires

Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires

June 9, 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

  • US Justice Department charges two men in Mt. Gox Hack June 9, 2023
  • Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave June 9, 2023
  • DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined June 9, 2023
  • Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires June 9, 2023
  • WikiLeaks Founder Julian Assange Facing Extradition After Losing Challenge June 9, 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)$26,455.00-0.51%
  • ethereumEthereum(ETH)$1,835.80-0.87%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$261.32-0.89%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • rippleXRP(XRP)$0.542.70%
  • staked-etherLido Staked Ether(STETH)$1,832.39-0.98%
  • cardanoCardano(ADA)$0.301135-7.17%
  • dogecoinDogecoin(DOGE)$0.0690221.65%
  • solanaSolana(SOL)$17.62-6.86%
  • matic-networkPolygon(MATIC)$0.74-5.86%
  • litecoinLitecoin(LTC)$88.950.58%
  • tronTRON(TRX)$0.071487-8.04%
  • polkadotPolkadot(DOT)$5.00-0.52%
  • binance-usdBinance USD(BUSD)$1.00-0.03%
  • avalanche-2Avalanche(AVAX)$13.84-1.01%
  • shiba-inuShiba Inu(SHIB)$0.000008-0.83%
  • daiDai(DAI)$1.000.00%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,433.00-0.70%
  • uniswapUniswap(UNI)$4.60-0.66%
  • leo-tokenLEO Token(LEO)$3.540.39%
  • chainlinkChainlink(LINK)$5.98-0.50%
  • cosmosCosmos Hub(ATOM)$9.20-2.74%
  • okbOKB(OKB)$44.850.44%
  • moneroMonero(XMR)$142.80-0.36%
  • ToncoinToncoin(TON)$1.721.98%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • ethereum-classicEthereum Classic(ETC)$17.000.00%
  • stellarStellar(XLM)$0.0885251.58%
  • bitcoin-cashBitcoin Cash(BCH)$110.91-0.49%
  • true-usdTrueUSD(TUSD)$1.00-0.12%
  • lido-daoLido DAO(LDO)$2.180.74%
  • internet-computerInternet Computer(ICP)$4.251.64%
  • filecoinFilecoin(FIL)$4.05-1.38%
  • quant-networkQuant(QNT)$108.08-2.71%
  • hedera-hashgraphHedera(HBAR)$0.048546-0.34%
  • crypto-com-chainCronos(CRO)$0.057861-2.12%
  • AptosAptos(APT)$7.39-3.54%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • ArbitrumArbitrum(ARB)$1.13-0.02%
  • nearNEAR Protocol(NEAR)$1.39-1.39%
  • vechainVeChain(VET)$0.017164-4.25%
  • apecoinApeCoin(APE)$2.83-2.81%
  • paxos-standardPax Dollar(USDP)$1.000.01%
  • the-graphThe Graph(GRT)$0.111441-1.76%
  • fraxFrax(FRAX)$1.00-0.16%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • BSCEXBSCEX(BSCX)$261.9083.36%
  • eosEOS(EOS)$0.890.43%
  • rocket-poolRocket Pool(RPL)$47.35-0.20%
  • algorandAlgorand(ALGO)$0.1256081.76%
  • elrond-erd-2MultiversX(EGLD)$34.79-0.67%
  • blockstackStacks(STX)$0.64-0.61%
  • the-sandboxThe Sandbox(SAND)$0.473237-3.11%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,971.02-0.90%
  • aaveAave(AAVE)$60.020.38%
  • optimismOptimism(OP)$1.33-3.23%
  • render-tokenRender(RNDR)$2.25-0.08%
  • fantomFantom(FTM)$0.288101-2.89%
  • tezosTezos(XTZ)$0.83-0.93%
  • theta-tokenTheta Network(THETA)$0.75-1.19%
  • usddUSDD(USDD)$1.00-0.08%
  • decentralandDecentraland(MANA)$0.408635-2.54%
  • immutable-xImmutableX(IMX)$0.731.54%
  • Bitget TokenBitget Token(BGB)$0.504.14%
  • axie-infinityAxie Infinity(AXS)$6.05-3.32%
  • BitDAOBitDAO(BIT)$0.477732-0.73%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.820.06%
  • radixRadix(XRD)$0.066845-1.05%
  • havvenSynthetix Network(SNX)$2.05-0.54%
  • kucoin-sharesKuCoin(KCS)$6.70-1.37%
  • flowFlow(FLOW)$0.62-1.80%
  • neoNEO(NEO)$9.02-0.64%
  • curve-dao-tokenCurve DAO(CRV)$0.76-0.59%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • galaGALA(GALA)$0.025648-1.73%
  • terra-lunaTerra Luna Classic(LUNC)$0.000100-0.58%
  • bitcoin-cash-svBitcoin SV(BSV)$30.03-0.59%
  • gatechain-tokenGate(GT)$4.151.92%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.20%
  • makerMaker(MKR)$626.41-0.14%
  • injective-protocolInjective(INJ)$6.91-1.21%
  • kavaKava(KAVA)$0.94-4.73%
  • klay-tokenKlaytn(KLAY)$0.1647671.03%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • bittorrentBitTorrent(BTT)$0.000001-1.13%
  • pax-goldPAX Gold(PAXG)$1,919.81-0.31%
  • xdce-crowd-saleXDC Network(XDC)$0.0357122.09%
  • iotaIOTA(MIOTA)$0.177128-1.60%
  • Tokenize XchangeTokenize Xchange(TKX)$6.14-0.11%
  • PepePepe(PEPE)$0.0000016.03%
  • tether-goldTether Gold(XAUT)$1,961.18-0.20%
  • compound-ethercETH(CETH)$36.89-0.87%
  • casper-networkCasper Network(CSPR)$0.043251-1.02%
  • huobi-tokenHuobi(HT)$2.921.99%
  • conflux-tokenConflux(CFX)$0.226417-2.76%
  • chilizChiliz(CHZ)$0.087319-0.35%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • gmxGMX(GMX)$51.27-0.62%