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It's worth solving precisely because they are so new. If they were old, there would be one, obvious, correct design to follow. However, no one knows precisely
by murbard2 9y ago
It's worth solving precisely because they are so new.
If they were old, there would be one, obvious, correct design to follow. However, no one knows precisely what the right formula is yet. This has led to a situation where projects either stagnate -- Bitcoin as network has been unable to integrate important innovations despite the incredible talent of the people working on it -- or build a strong coupling to a central organization, which can threaten their decentralized nature.
How do you design a decentralized protocol that can keep up to date with innovation in this space and yet remain decentralized? That's the problem the governance model is trying to solve.