29 Mar '17, 11am

A Plan to Save Blockchain Democracy From Bitcoin's Civil War - WIRED

Bitcoin, you could argue, is also a democracy. But the system operates in an ad hoc way. Participants must individually and manually upgrade the software running on miners and other machines, and this leads to the kind of thing you now see with the digital currency: months of people arguing, both online and off, about how the network should evolve. Tezos removes this unorganized in-fighting—and then some. Through the Tezos voting system, stakeholders can also change the voting system. “We are not necessarily beholden to voting as a governance mechanism,” Breitman says. “Every part of the system can evolve, including the governance system itself.” He compares this means of self-correction to a constitutional amendment—another powerful idea in light of the conflict over bitcoin.

Full article: https://www.wired.com/2017/03/plan-save-blockchain-democr...

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