Fun

How Vitalik Buterin’s pluralistic vision could reshape blockchain governance

News Feed - 2024-08-21 10:08:26

Amaka Nwaokocha10 hours agoHow Vitalik Buterin’s pluralistic vision could reshape blockchain governanceWhile Buterin believes pluralistic philosophy can enhance existing systems, he acknowledges that it cannot replace them.1142 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onVitalik Buterin, co-founder of Ethereum, has expressed optimism about the application of pluralistic philosophy in various social and technological settings. 


Buterin explained how different ideas can be used to improve cooperation and decision-making in areas such as blockchain, social media and local government.


According to a 2022 essay “Why I Am A Pluralist” by Glen Weyl, plurality is a social philosophy that recognizes and fosters the flourishing of and cooperation between a diversity of sociocultural groups or systems.


Buterin’s advocacy for these ideas is not just theoretical; he believes that real-world experimentation in these areas could yield significant benefits, enhancing autonomy, fostering collaboration and minimizing polarization.Blockchain ecosystems


His enthusiasm for applying this philosophy to blockchain ecosystems is deeply rooted in the decentralized nature of blockchain technology itself. 


He highlighted the potential of pluralistic mechanisms to address critical issues within blockchain communities, such as collusion and competitive pressures. For instance, the Ethereum ecosystem already employs quadratic and retroactive funding mechanisms to support public goods. 


However, these mechanisms are not perfect and have their vulnerabilities, particularly if participants collude. Pluralistic ideas, according to Buterin, could help mitigate these risks by subsidizing collaboration between different parts of the ecosystem, such as layer-2 scaling platforms and crypto wallets, which might otherwise be incentivized to act competitively.


Related:Vitalik registers ‘defensive accelerationism’ (d/acc) ENS domain — but what is it?


This approach aligns with Buterin’s broader vision for blockchain as a space where diverse actors can collaborate more effectively without succumbing to the pressures of centralization. By implementing pluralistic mechanisms, blockchain ecosystems could maintain their decentralized ethos while improving governance and resource allocation.Buterin’s impact on blockchain and DeFi


Buterin has been highly active in addressing blockchain and decentralized finance (DeFi) issues, often offering solutions to many of them.


In 2023, Buterin and researchers from Cornell University studied how to stop a major problem facing decentralized systems: attacks using bribes in smart contracts.


In July, Ethereum developers introduced a new Ethereum improvement proposal, EIP-7732, which aimed to overhaul the block validation process and speed up the blockchain following the Ethereum co-founder’s push for faster transaction confirmation times.


September 2022 saw Ethereum successfully shift to a proof-of-stake consensus mechanism and adopt a layer-2-centric approach to scaling the network’s base layer. Hardware-based miners were replaced by validators that stake Ether (ETH) to process transactions, add new blocks and maintain the network.


Magazine:As Ethereum phishing gets harder, drainers move to TON and Bitcoin# Blockchain# Decentralization# Ethereum# Vitalik Buterin# EcosystemAdd reaction

News Feed

Forex Shortages Force Nigerian Corporates to Turn to Parallel Market
Forex Shortages Force Nigerian Corporates to Turn to Parallel Market Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to
OpenEden launches tokenized T-Bills on XRP Ledger
Josh O"Sullivan6 minutes agoOpenEden launches tokenized T-Bills on XRP LedgerRipple invests $10 million in OpenEden’s tokenized T-bills initiative, marking a significant TradFi advancement on the XRPL.48 Total viewsLis
Storm Partners launches Web3 innovation sandbox in Geneva
Zoltan Vardai14 hours agoStorm Partners launches Web3 innovation sandbox in GenevaThe new blockchain sandbox aims to bolster Geneva’s status as an emerging crypto hub.1164 Total views7 Total sharesListen to article 0:0
Moon: The Lunar Metaverse Launches Revenue Generating NFT Land Sale
Moon: The Lunar Metaverse Launches Revenue Generating NFT Land Sale sponsored Moon is a brand new economic, and social Metaverse inspired by lunar exploration. Players have the oppo
Biggest Movers: GRT up 15%, While ZEC Rallies Following Recent Losses
Biggest Movers: GRT up 15%, While ZEC Rallies Following Recent Losses As crypto markets moved into the green on Tuesday, GRT was one of the biggest gainers, as prices rebounded fo
Binance Smart Chain Creates a $10 Million Bug Bounty Fund to Tighten Protocol Security
Binance Smart Chain Creates a $10 Million Bug Bounty Fund to Tighten Protocol Security The Binance Smart Chain has launched a $10 million bug bounty fund for pro
Webbland Metaverse Sales Jump 126% as 2 Penthouses Sell for Six-Figures
Webbland Metaverse Sales Jump 126% as 2 Penthouses Sell for Six-Figures While blockchain virtual worlds have seen significant demand during the last few months, an “interope
Bitcoin breaches $70k for the first time
Zoltan Vardai27 minutes agoBitcoin breaches $70k for the first timeBitcoin broke a new high of $71,415, three days after Ether breached the $4,000 mark for the first time since 2021.490 Total viewsListen to article 0:00N
How a decentralized AI movement is shaping a fairer future
Savannah Fortis5 hours agoHow a decentralized AI movement is shaping a fairer futureThe Morpheus Network and 6079 are leading a movement to challenge the supremacy of Big Tech giants by employing decentralized, permissio
Iceland’s crypto industry has promising future, but faces energy challenges
Robert D. Knight10 hours agoIceland’s crypto industry has promising future, but faces energy challengesEnergy-rich Iceland is “making strides” in crypto, says Gulli Gislason of Viska Digital Assets.531 Total views2
NFT Sales Volume Slips 8% Lower Than Last Week — Moonbirds, Electricsheep, Moonbirds Oddities Lead in Sales
NFT Sales Volume Slips 8% Lower Than Last Week — Moonbirds, Electricsheep, Moonbirds Oddities Lead in Sales During the last few weeks, non-fungible token (NFT) sales have remaine
Tornado Cash sanctions effective, reveal Ethereum weakness: NY Fed
Derek Andersen2 hours agoTornado Cash sanctions effective, reveal Ethereum weakness: NY FedCooperation with the US Treasury sanctions on Tornado Cash was strongest at the user level and weaker further along the settlemen