kaal:claim:3782198-025

Bitcoin and Ethereum have no formal binding governance framework declaring how consensus protocols may be changed in the future, which the authors identify as a deep flaw that weakens the networks and will lead to instability.

Source quote, verbatim

In Bitcoin and Ethereum, there is no formal binding governance framework de- claring how the protocols for consensus might be changed in the future. This is a deep flaw which weakens these networks and will lead to instability.

From

Craig Calcaterra, Wulf A. Kaal, Contemporary Decentralization (2021), Web>, p. 24
https://ssrn.com/abstract=3782198 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Contemporary Decentralization (2021). SSRN: https://ssrn.com/abstract=3782198

Holds when

applies to major blockchains lacking on chain governance

Classification

failuresupport: arguedfailure: missing-governance-frameworkfamily: governance-participation-collapseblockchaingovernance-designtokenomics

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