Vitalik Buterin Talks Against Transferable Governance
Vitalik Buterin – As Decentralized Autonomous Organizations (DAOs) gain popularity in the blockchain industry, the governance discussion is becoming more heated.
This week, Vitalik Buterin, the creator of Ethereum (ETH), brought attention to the paradox of giving all energy to a small group of people while allowing others to distribute energy as they see fit.
Community reacts – Vitalik Buterin
Although the inventor of Ethereum gives a decibel level, several people have reacted with different opinions. Delegating control energy, according to Twitter user Muki, is “inevitable.” According to a member of the community, it is impractical to expect everyone to participate, and it is better to delegate decision-making authority voluntarily than to act hastily or not at all.
Holding transferrable governance tokens does not equal desire, according to Willyogo, a Twitter user who joined the conversation. The forum user did add, though, that the voting procedures used by DAOs have room for improvement.
Another Twitter user, Vagobond, chimed in and said that having fully recallable delegates is a strategy for moving forward.
Some referred to the application of blockchain-based scientific disciplines, such as using confirmed randomness to choose crucial roles in a DAO, while others focused on governance techniques. When the designated holder is not on-chain, another member of the community suggested picking token holders at random and rotating them.
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