kaal:claim:3808873-033

Decentralized networks depend on dynamic governance because evolving blockchain protocols require updates, and the practice of hardforking that remained prevalent in the early 2020s created significant economic loss for such blockchains.

Source quote, verbatim

As blockchains protocols evolve in a given market, they require updates. The practice of hardforking, that was still prevalent in the early 2020s, created significant economic loss for such blockchains.

From

Wulf A. Kaal, Decentralization Neutralizers (2021), XI. Lack of Decentralized Governance Systems, p. 29
https://ssrn.com/abstract=3808873 · source PDF

Cite as

Wulf A. Kaal, Decentralization Neutralizers (2021). SSRN: https://ssrn.com/abstract=3808873

Holds when

blockchain protocols requiring upgrades in the early 2020s

Classification

mechanismsupport: arguedfailure: Hardfork Upgrade Costfamily: transition-and-migration-riskblockchaingovernance-designconsensus-and-securityeconomics

Related claims

extends kaal:claim:3441904-006 Without evolutionary governance upgrades to blockchain protocols, the cost reduction that blockchain brings to...

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