This thread will briefly discuss ethical advantages in #Decred.
Compericlity (balanced risk-sharing) tends to enhance robustness of a given technology.
@nntaleb calls this the Rob Rubin trade.
A society lacking compericlitous ethics is fragile to black swan blowups.
This should be somewhat obvious.
The bridge builder who has to sleep under his end product will do his very best to ensure his family's own survival.
Symmetry in risk-bearing enhances robustness.
Let us investigate where risks are beautifully balanced in #Decred.
First thing's first.
When Decred implements a new code change, the ENTIRE network is organized to upgrade the code as a unit.
This is a miraculous step forward in decentralized network infrastructure.
✅The PoW upgrade is complete once 95% of the latest 1,000 blocks are mined with the latest version.
✅The PoS upgrade is complete once 75% of the votes in a complete stake version interval are cast using the latest version.
This means the network, for better or for worse, completely shares the risks embedded in a given software update.
Code adaptations are compericlitous and universal in #Decred.
Upgrading Bitcoin's code can come from factions of users (UASF) Miners, or Developers.
In virtually all instances, the Bitcoin network is fractured.
Hard-forks that result in multiple assets (see $BCH, $BSV, etc.) represent obvious instances where the $BTC network is split and there are multiple assets for users and miners to migrate to.
-User Activated Soft Fork (USAF): Today, only a portion of the Bitcoin network uses segwit.
-Updates to Bitcoin Core or other implementations result in portions of the network using different software.
The advantage here is similar to the builder sleeping under his bridge. The risk of ruin ensures code updates are executed with utmost care.
Complete transparency behind all decision-making, i.e. governance.
#Decred's Politeia (Pi) is an off-chain (sybil resistant) method for users to openly discuss proposals.
The network's reasons behind various decisions will be displayed for all to see.
This transparency demonstrates how the #Decred DAO is a leader in ethics and accountability.
@PermabullNino elegantly explains how #Decred manages to better segregate the duties of accounting.
This article is a must-read:
medium.com/@permabullnino…
Decred elegantly inserts a PoS element to check the PoW miners' work.
The PoS element ensures PoW miners are behaving favorably and removes their duty as sole authorizers of the ledger.
10% of Decred's block reward is reserved for the treasury. This will ensure favorable development finds funding.
Soon, full decentralization of treasury expenditures will be implemented. This is arguably the largest transfer of power to occur in the cryptocurrency space to date.
There is an elegant balance of accountability behind everything #Decred does.