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It is a system where you have skin in the game, the more skin in the game you have, the more power you have. Think it like a democracy where you are voting with
by Vanclief 5y ago
It is a system where you have skin in the game, the more skin in the game you have, the more power you have. Think it like a democracy where you are voting with your wallet.
The main difference with the fiat world is that with Ethereum you have transparency, and there is no corruption. You can't just bribe a politician to enact a rule you want. Everything that happens in the network is recorded permanently, and rules are not a suggestion, but a practical reality that can't be circumvented.
- briefcomment 5y agoWhat exactly do Ether holders vote on in this scenario? Changes to the protocol? Is that process highly transparent and easily accessible?
- DennisP 5y agoThere's no on-chain governance like that. Some other blockchains do it but Ethereum devs are skeptical. The upgrade process will keep working like it does now.
- jayd16 5y agoThat's called a plutocracy not a democracy.