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56 lines
3.1 KiB
Markdown
56 lines
3.1 KiB
Markdown
---
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title: "eth-governance"
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tags:
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---
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note: may be out of date after the merge
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- governance are the systems that allow decisions to be made
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- e.g., shareholders vote on proposals for change, elected officials enact legislation that attempts to represent their constituents desires, board of directors have the final say in decision making
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- decentralised governance
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- no one person owns or controls ethereum, this makes traditional organizational governance an incompatible solution
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- eth governance
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- the process by which protocol changes are made
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- not related to how people and applications use the protocol because eth is permissionless – anyone can participate in on chain activities
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- the governance systems need to ensure that changes to the protocol are secure and widely supported by the community
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- on/off chain
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- on: proposed changes to the protocol are decided by stakeholders (holders of a governance token) and voting happens "on the blockchain" – sometimes changes are already written and are automatically implemented if a vote is successful
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- off: decisions are made through an informal process of social discussion, which , if approved, would be implemented in code
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- eth is off chain – but many things built on eth (e.g., DAOs) use on chain governance
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- who is involved (stakeholders)
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- ether holders
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- application users
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- application tooling devs
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- node operators
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- EIP authors – propose changes to the eth protocol
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- miners/validators
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- protocol developers
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- EIP – eth improvement protocol
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- anyone can create
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- process for change
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- propose a core EIP
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- present EIP to devs
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- rejected/modified/considered for dev
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- EIP is developed
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- EIP included in network upgrade (coordination required)
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- upgrade activated (tested on a testnet first)
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- handling diagreements
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- discussion in public forum – hopefully, one side concedes or a medium is reached
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- however can result in a chain split
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- fork: when major technical upgrades or changes need to be made to the network
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- DAO fork
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- low turnout
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- many weren't aware
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- only represented ETH holders, not other participants
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- some didn't want to fork because it wasn't a fault in the system
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- community has adopted a policy of non-intervention in the case of contract bugs or lost funds, to retain credible neutrality
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-
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further reading
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- [Notes on Blockchain Governance](https://vitalik.ca/general/2017/12/17/voting.html) - _Vitalik Buterin_
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- [Governance on Ethereum](https://docs.ethhub.io/ethereum-basics/governance/) – _ETHHub_
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- [How does Ethereum Governance work?](https://cryptotesters.com/blog/ethereum-governance) – _Cryptotesters_
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- [How Ethereum governance works](https://medium.com/coinmonks/how-ethereum-governance-works-71856426b63a) – _Micah Zoltu_
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- [What is an Ethereum core developer?](https://hudsonjameson.com/2020-06-22-what-is-an-ethereum-core-developer/) - _Hudson Jameson_
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- [Governance, Part 2: Plutocracy Is Still Bad](https://vitalik.ca/general/2018/03/28/plutocracy.html) - _Vitalik Buterin_
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- [Moving beyond coin voting governance](https://vitalik.ca/general/2021/08/16/voting3.html) - _Vitalik Buterin_ |