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By design, they enshrine the rights of the individual participant to freely interact in a free market, by preventing the majority from creating any rules to lim
by Jabanga 9y ago
By design, they enshrine the rights of the individual participant to freely interact in a free market, by preventing the majority from creating any rules to limit access to the platform. So they don't have the same need to adapt as an interventionist government, that imposes itself on the economy through majority dictate, does.
In the case of Ethereum, the Turing Completeness also makes it so that each contract is like a government in and of itself, which any party is free to design to meet their own preferences.
- bloominglotus 9y agoDo you remember when the majority hard-forked, changed history, and restored millions of ether to DAO? Is that not blatantly a majority imposing themselves on the economy through majority dictate?
- Jabanga 9y agoI don't believe such hard forks will be practical when the ecosystem is larger and more diverse. The DAO happened in a unique point in Ethereum's history, when the community was very small (and thus cohesive) and activity on the network was very little.