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This is a good point. However, there is still fairness through: 1) transparency 2) adding fair criteria to upgrade. Criteria to upgrade: like chrisshroba ment
by zilitor 8y ago
This is a good point. However, there is still fairness through: 1) transparency 2) adding fair criteria to upgrade.
Criteria to upgrade: like chrisshroba mentioned, one can use a decentralized algorithm to vote on upgrade, making it more fair. Altnerativley there are things like SageCoin in which a fair 3rd party can step in to settle a dispute. This is more centralized, but still blockchainers seem to appreciate this. Below is a quote from Vitalik that I think roughly applies here. (also im not trying to favor the latter method)
https://vitalik.ca/general/2017/12/17/voting.html https://vitalik.ca/general/2017/12/17/voting.html
"feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy"