Discover and read the best of Twitter Threads about #CIP1694
Most recents (4)
CIP-1694 is a discussion proposal for the Cardano community about on-chain governance to shape a sustainable future for Cardano and bring another major upgrade to the network.
🧵Let’s dissect #CIP1694 and see what it means for Cardano ADA holders!
🧵Let’s dissect #CIP1694 and see what it means for Cardano ADA holders!
The Cardano blockchain has developed its ecosystem over the past several years, and now the focus is moving to Cardano’s decentralized governance policies to ensure its future sustainability.
As a decentralized blockchain, Cardano was meant to eventually be governed by its community including ADA holders, devs, SPOs, academics, and others.
Every Friday, we publish our weekly #Cardano development update. So for the lowdown on what IOG's dev team has been working on last week, head on over and take a look👇
essentialcardano.io/development-up…
essentialcardano.io/development-up…
🔬 CORE TECHNOLOGY: The networking team improved stability and performance, updated software, and prepared for releases. The consensus team progressed on Genesis design and improved BlockFetch logic while the DB Sync team optimized UTXO query speed and rewards performance.
.@KenricNelson (cc: @IOHK_Charles, @adamKDean)
I'd like to respond to this open letter. I was also very honored to participate in the #CIP1694 workshop.
I was thrilled to see Adam Dean engage with his usual flair, despite others on either side being FUDish at times.
🧵
I'd like to respond to this open letter. I was also very honored to participate in the #CIP1694 workshop.
I was thrilled to see Adam Dean engage with his usual flair, despite others on either side being FUDish at times.
🧵
2) But the point I want to drive home is that the time to move to Decentralized Governance is here, now.
We cannot wait for the ideal technology because governance is a messy business. We will never be perfect. We will always be trying to get it right.
We cannot wait for the ideal technology because governance is a messy business. We will never be perfect. We will always be trying to get it right.
3) If we look around at the current regulatory landscape, it's clear that protocols that are not sufficiently decentralized put developers at risk. Bitcoin is deemed to not be a security asset in part because the miners and the nodes can veto the developers. But I digress...
🧵1/n🇨ðŸ‡Switzerland-like direct democracy for Cardano? A thread why I think this is a good model - and what's the catch, for now.
Quite a few of us are unhappy about the representative model used in CIP-1694. Is direct democracy a good alternative? Yes and no.
#CIP1694 #Cardano
Quite a few of us are unhappy about the representative model used in CIP-1694. Is direct democracy a good alternative? Yes and no.
#CIP1694 #Cardano
2/n Direct democracy is sometimes understood as everyone can vote on everything. This sounds good but has obvious drawbacks in L1 context which can lead to chain congestion.
What is even worse, it can be a time consuming task, leading to low voter participation.
What is even worse, it can be a time consuming task, leading to low voter participation.
3/n Danger is manipulation and voting results not representing the population. A quorum can be used to counter this effect, but if it's too high, it can render the system unable to make a decision and therefore useless.
How it it done in real direct democracies like 🇨�
How it it done in real direct democracies like 🇨�
