Ethereum Tzars: The Network Faces Governance Issues?

[bbc.reporter]

I reckon the critics might have the situation overblown. Ethereum did not have a secret meeting, it was streamed online but it was invite only.

Also the plans for governance should also be seen from their side, not only from the critics' side. Ethereum will go through the most important hard fork of its life. Some centralization should be needed to make sure a split does not happen again.

The critics should also not call for decentralization for decentralization's sake.



A gathering of Ethereum experts happened in Toronto, Canada, with a view to finding a centralized solution to some of the network’s scaling problems. And while this event may be too esoteric for most ETH investors, the community may see worrying signs of the Ethereum ecosystem becoming centralized, and in the hands of a few developers, much like the Bitcoin governance.

With a market capitalization of more than 76 billion, Ethereum is a high-stakes network with a valuable digital asset - and it is unknown if the wider community can continue to steer the project, without some centralized decisions.

Ethereum is facing an evolution into a proof of stake coin, and many decisions are still pending. But what may threaten Ethereum are potential corporate interests getting injected into the governance process.

But some see a paradox, in the fact that Buterin is still acting, at least in part, as an idea leader to the project. One recent point of contention was the desire of the community to achieve ASIC resistance of Ethereum via a hard fork. However, Buterin spoke against such actions, and the Ethereum network is about to see the inflow of Bitmain’s new machines coming to the market soon.

Read more https://cryptovest.com/news/ethereum-tzars-the-network-faces-governance-issues/

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[bbc.reporter]

The lack of discussion of these kinds of matters about the cryptospace is very revealing that the people who are new to the forum only care about ICO bounties, pump and dumps and fiat. What a very sad sight the forum has become.

In any case, I know I have my share of criticism on Ethereum's slight partiality on centralization. But if it must move forward and do a hard fork to proof of stake, then I reckon some amount of centralization will be needed to avoid another blockchain split. The critics should give them some space if they want to see it succeed.



The “it” was a recent meeting in Toronto, Canada of Ethereum players, promptly blasted by Catallaxy co-founder and Satoshi Portal CEO (Bylls) Francis Pouliot. He described the event as a “Secret meeting of Ethereum management committee,” in a Tweetstorm for the ages, continuing about how “blockchain governance rules were decided by the stakeholders.”

“This is insane,” Mr. Pouliot insisted. “They are establishing a plutocratic government. This has provably failed with Bitcoin (UASF/NO2X). Does anybody even care?” The evidence marshalled for the slam came from a lone news source, which described the event in worrying terms, according to Mr. Pouliot’s reading.

And it does appear discussions about decentralization, mining, scarcity, and the infamous cases of frozen funds were had in Toronto. However, the cryptosphere seemed unconvinced about a cabal, and took Mr. Pouliot to task. Principal Lane Rettig argued “The event was not secret, in fact we livestreamed a lot of it. We also did a public AMA. There is no ‘Ethereum management committee’ and no rules were made. Please get your facts right. Your message is intellectually dishonest.” Mr. Pouliot shot back paraphrasing attributed to Mr. Rettig, and the thread continued along those lines.

Read in full https://news.bitcoin.com/ethereum-founder-responds-to-charges-of-insane-plutocratic-governance/