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A decentralized network doesn't care for vision, it functions as per what its participants want. What you are describing, is a problem in centralised network, w
by ashfame 6y ago
A decentralized network doesn't care for vision, it functions as per what its participants want. What you are describing, is a problem in centralised network, which Ethereum is. So, you are technically right, but let's not confuse the interests of the creator is same as the interests of the users of the network.
Miners are not supposed to serve anyone but themselves. Everyone for themselves. A right system economically incentivize the right action by design, like in Bitcoin. Important to understand the first principles before judging any distributed system.
- warent 6y ago> A decentralized network doesn't care for vision I'm not sure how this can be true as long as conditions are met: 1. original creator of decentralized network still exists 2. people still respect and give authority to creator Bitcoin is visionless because it was theorized anonymously. Not so with Ethereum
- chrisco255 6y agoNo it's very much decentralized as the miners are threatening a fork. This is not unlike what Bitcoin went through in 2017 when it split between BTC and BCH. If it were centralized a fork wouldn't be possible. The miners are mercenaries. They have no loyalty to the network and the network has no loyalty to them (hence the push for proof of stake). For what it's worth, EIP-1559 wasn't Vitalik's idea, but the change is almost universally supported by the Ethereum application developers and users. At any rate the sooner we get off proof of work the better. Users are spending $20M a day on transaction fees. Let's put that money back into the ETH community by switching to proof of stake and burning the transaction fees.