kaal:claim:3227967-032

Existing blockchains and DAOs still lack genuine decentralization, and there are currently no true DAOs: Bitcoin's proof of work protocol has produced mining pools because of economies of scale and unbalanced reward structures.

In our discussion, the following weaknesses were highlighted. There is still a lack of decentralization (there are currently no "true" DAOs). For instance, Bitcoin's proof of work protocol has led to "mining pools" because of economies of scale and unbalanced reward structures.

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018), IX. Coding for Lawyers, p. 30
https://ssrn.com/abstract=3227967 · source PDF

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967

• proof of work blockchains as of 2018

failuresupport: arguedfailure: Recentralization of proof of work networksfamily: recentralization-driftblockchaindaodecentralizationconsensus-and-security

• extends kaal:claim:3227933-019 Most current blockchain applications lack complete decentralization: proof of work style validation has produc...
• restated_by kaal:claim:3808873-008 Proof of Work block rewards structurally reintroduce centralization: the economic nature of mining rewards inc...
• extended_by kaal:claim:3782193-027 Bitcoin does not refute the thesis that money centralizes decentralized projects: hashing power has slowly bec...
• restated_by kaal:claim:3782198-024 Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authorit...

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