Core Principles of Decentralization
Miko Matsumura
713

This has really got me thinking. If you take Bitcoin, it’s the ultimate DAO. It requires no leader, no staff to maintain the codebase, it can never be shut down or sold, it can not be diluted. This is the source of its ultimate value. Still, as we now see, it is somewhat in the control of miners.

On the other hand take ETH. It is in the power of a (benevolent) dictator, at least for now. But it can be inflated, and is not truly autonomous — most organizations are not.

For more complex organizations, people and resources play a significant role. EOS now has some amazing financial resources behind it, which translate into developmental resources. These could cause it to win over ETH, regardless of other factors.

The subject is really complex, because some things evolve out of seemingly simple ideas: like ebay. The idea is the right idea, even if the power is concentrated in Pierre Omidyar and other’s hands. An eBay token would be highly valuable today, even if the organization was non-open source, and power-concentrated. Same with an Uber token.

So it’s not black and white. But all your points are excellent.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.