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Cryptocurrency News Articles
Cardano’s Voltaire-era governance overhaul prevents it from becoming a “dictatorship” like Ethereum and sidesteps the “anarchy” of Bitcoin, says founder Charles Hoskinson.
Sep 25, 2024 at 09:37 am
Speaking to Cointelegraph in Singapore, Hoskinson attacked Ethereum’s current governance model, claiming that it relies far too heavily on its co-founder Vitalik Buterin for direction.
Cardano founder Charles Hoskinson has defended his remarks comparing Ethereum to a dictatorship, arguing that the network's governance heavily relies on its co-founder, Vitalik Buterin.
In an interview with Cointelegraph at Token2049 in Singapore, Hoskinson elaborated on his earlier statement, which sparked controversy within the crypto community.
Hoskinson explained that he sees Ethereum's entire vision as starting and ending with Buterin, with everyone looking to him for the roadmap and inspiration. He also highlighted Buterin's power to rally people, questioning what the next hard fork would look like and how quickly they could get there if Buterin were to be removed from the equation.
According to Hoskinson, Buterin largely shifted the Ethereum roadmap away from sharding-based optimization of the base chain and toward rollups and layer-2 networks for scalability.
While Hoskinson believes Ethereum is heavily influenced by Buterin's vision, it's important to note that Buterin doesn't have unilateral power in the decentralized network.
Ethereum uses a mix of offchain and onchain governance, involving the Ethereum Foundation, community and stakeholder input in Ethereum Improvement Protocols (EIPs), and critical decisions are made at core developer meetings. Contentious decisions can lead to a hard fork, like the rollback of The DAO hack, which resulted in Ethereum Classic.
Hoskinson was one of eight original co-founders of Ethereum and its former CEO, but his for-profit vision for the protocol clashed with Buter's, and the young creator fired him from the project at a meeting in Switzerland in 2014.
Despite playing a broad role in shaping Cardano since 2015 — the network's new governance model is designed to ensure that "Charles, alive/dead doesn't matter. There's still going to be innovation on a daily basis.”
As previously reported, Cardano's Chang hard fork in early September turned ADA into a governance token, allowing holders to elect representatives and vote on development proposals and community project funding. The founding organizations that have guided the project so far — the Cardano Foundation, Input Output Global (IOHK) and Emurgo — can no longer trigger forks and upgrades.
Hoskinson described the interplay between the members-based organization of researchers and engineers — dubbed Intersect — and the delegate representatives as a more "collaborative model" that can function with or without an active founder.
“They can talk to each other, vote, and come up with and use a blockchain-based government to ratify a roadmap on a regular basis,” said Hoskinson.
Cardano is still working on finalizing a constitution that will likely set hard limits on some core issues, such as the supply and how governance works.
Magazine: Proposed change could save Ethereum from L2 ‘roadmap to hell’
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