The Ether-1 Project has recently passed a particularly important milestone, beta testing of the ethoFS decentralized hosting solution. ethoFS is backed by application specific nodes with a working flagship product that delivers! It is time to address the most important issue facing Ether-1… fair community self-governance.
The past 6 months in crypto lore have been a whirlwind, with increasing numbers of 51% attacks, within a bear market nearing its peak as miners are trying to decide whether to keep going. The 2014–2015 bear market has a rival and it’s the 2018–2019 bear market, registering officially as the longest bear market in recent crypto history. The silver lining of the bear market has been that it has filtered out all the unserious people and it has forced folks to focus on the most pressing issues. Today’s bear market is also a reminder to re-check all assumptions, cut away all the excess and re-think the long term vision decentralization presents on all levels.
Governance is just coming into its own on the crypto scene and The Ether-1 Project is gearing up to do its best in delivering a system that allows interested ETHO holders to work with the project team to forge a set of rules and practices that will become the foundation of Ether-1 governance. The only way to discuss governance fairly is to have the key stakeholders at the table, officially.
In order to kick off the governance discussion, the Ether-1 Project lead developer Dev-JamesR opened up a WIP (work in progress) discussion on the Official Ether-1 Github.
The WIP discusses electing a council of ETHO holders and forming a provisional body along with the Ether-1 team in order to discuss and vote on the many considerations presented by the issue of governance. Once governance has been discussed, voted on and finalized in a document, a second election will be held to select the first iteration of the permanent council or other type of permanent structure, since there is no way of predicting what will be on the other side of the provisional governance discussions.
As the Ether-1 team is working on the logistics of the election of the first provisional council, they are considering fair rules for electing council members and using the project’s social media and communication platforms for fair election coverage. To that end, council members will need to come up with a platform to present to the voting community so that the top 11 or 17 (or other number) of original council members are elected on the merit of their ideas. The election process logistics have not been fully fleshed out yet (see WIP discussion) but fundamentally the process will be based on voting on-chain with one’s ETHO to back either oneself or a worthy candidate’s ETHO address (ideally) as determined by the candidate’s platform.
As an ETHO holder or even potential provisional council member, now is the time to really think about governance and to contribute your thoughts over at https://github.com/Ether1Project/Ether1/pull/6 as well as on the official Ether-1 Discord server at https://discord.gg/yNWVXXS.