Ethereum

Cardano

2024

<h4><strong>He argued that <a href="https://www.altcoinbuzz.io/?s=Vitalik+Buterin" target="_blank" rel="noopener">Vitalik Buterin</a>, one of Ethereum’s co-founders, holds too much power in deciding how the network develops. </strong></h4> 
<p>This statement came during an interview at Token2049 in Singapore, where Hoskinson shared his thoughts on Ethereum’s governance model.</p> 
<h5><strong>The Power of One</strong></h5> 
<p><a href="https://www.altcoinbuzz.io/?s=Hoskinson" target="_blank" rel="noopener">Hoskinson</a> believes that Ethereum’s structure gives Buterin too much influence. He said, “When you have a system where one person can change the direction of the entire project, it’s not truly decentralized.”</p> 
<p>In simpler terms, Hoskinson thinks that having a single leader can lead to problems like a captain steering a ship without input from the crew. He argued that a better way would be to have a group of people making decisions together.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">𝗘𝗫𝗖𝗟𝗨𝗦𝗜𝗩𝗘: Ethereum is a ‘dictatorship’ claims Cardano founder Charles Hoskinson.</p> 
 <p>Hoskinson argues that Vitalik Buterin exerts too much influence over the development of the decentralized network. <a href="https://t.co/Nh27nSa2UP">pic.twitter.com/Nh27nSa2UP</a></p> 
 <p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1838783037477101748?ref_src=twsrc%5Etfw">September 25, 2024</a></p>
</blockquote> 
<p><script src="https://platform.twitter.com/widgets.js" async charset="utf-8"></script></p> 
<h5><strong>Cardano’s Solution?</strong></h5> 
<p>Unlike Ethereum, Hoskinson says that Cardano uses a different <a href="https://cardanofoundation.org/governance" target="_blank" rel="noopener">governance model</a> designed to solve what he calls the “governance trilemma.” This trilemma involves balancing three important things:</p> 
<ul> 
 <li><strong>Efficiency</strong>: How quickly decisions are made.</li> 
 <li><strong>Effectiveness</strong>: How well they work.</li> 
 <li><strong>Integrity</strong>: Making sure everyone’s voice is heard.</li> 
</ul> 
<p>According to Hoskinson, Cardano’s approach involves using delegated representatives and a member-based organization called Intersect. This helps break down complicated topics so that members can vote on them.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">With the introduction of on-chain governance, two new entities have been integrated into Cardano’s power structures: DReps and CC members.</p> 
 <p>These new governance bodies, along with the SPOs, now share responsibilities for <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> with the three founding organizations: IOG,… <a href="https://t.co/3yCPXwptrx">pic.twitter.com/3yCPXwptrx</a></p> 
 <p>— Cardano YOD₳ (@JaromirTesar) <a href="https://twitter.com/JaromirTesar/status/1838690812886159566?ref_src=twsrc%5Etfw">September 24, 2024</a></p>
</blockquote> 
<p><script src="https://platform.twitter.com/widgets.js" async charset="utf-8"></script></p> 
<p>Also, Hoskinson pointed out that blockchains can choose to keep things simple, like <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a>. He believes that Cardano’s model is more fair and involves more community participation, allowing everyone a seat at the table.</p> 
<h5><strong>A Bumpy History</strong></h5> 
<p>Interestingly, Hoskinson was one of the <a href="https://en.wikipedia.org/wiki/Charles_Hoskinson#cite_note-paumgarten-10" target="_blank" rel="noopener">original co-founders</a> of Ethereum back in 2014. However, he had a different vision for the project than Buterin, which eventually led to his departure from the Ethereum Foundation. During that time, Hoskinson wanted to focus on a for-profit model, while Buterin wanted a more open-source approach. This difference of opinion led to a meeting in Switzerland, where Buterin decided to fire Hoskinson from the project.</p> 
<p>As blockchain technology continues to grow, finding a balance between leadership and community input remains a hot topic. Hoskinson’s comments serve as a reminder that even in decentralized networks, the question of who gets to make the rules is still up for debate.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/cardanos-ceo-ethereums-governance-is-a-dictatorship/">Cardano’s CEO: Ethereum’s Governance is a ‘Dictatorship’</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Cardano’s CEO: Ethereum’s Governance is a ‘Dictatorship’

Altcoin Buzz

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