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by s17n 3185 days ago
Ultimately a cryptocurrency needs a functional governance model to survive - it has to be possible to update the code, and so people have to decide somehow on which version is valid, and this creates the opportunity for a power structure to exist, and where there is such an opportunity, someone will fill it. Having a "hero" in charge is not the best way but Bitcoin is a fucking mess right now.
1 comments

Heard of delegated proof of stake? The inventor moves on and the project is still alive and thriving

No hero needed just honest nodes

Nodes will always be able to organize outside of the mechanisms provided by the code. Managing this phenomenon is what governance is all about.