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He argued that Vitalik Buterin, one of Ethereum’s co-founders, holds too much power in deciding how the network develops.
This statement came during an interview at Token2049 in Singapore, where Hoskinson shared his thoughts on Ethereum’s governance model.
The Power of One
Hoskinson believes that Ethereum’s structure gives Buterin too much influence. He said, “When you have a system where one person can change the direction of the entire project, it’s not truly decentralized.”
In simpler terms, Hoskinson thinks that having a single leader can lead to problems like a captain steering a ship without input from the crew. He argued that a better way would be to have a group of people making decisions together.
𝗘𝗫𝗖𝗟𝗨𝗦𝗜𝗩𝗘: Ethereum is a ‘dictatorship’ claims Cardano founder Charles Hoskinson.
Hoskinson argues that Vitalik Buterin exerts too much influence over the development of the decentralized network. pic.twitter.com/Nh27nSa2UP
— Cointelegraph (@Cointelegraph) September 25, 2024
Cardano’s Solution?
Unlike Ethereum, Hoskinson says that Cardano uses a different governance model designed to solve what he calls the “governance trilemma.” This trilemma involves balancing three important things:
Efficiency: How quickly decisions are made.
Effectiveness: How well they work.
Integrity: Making sure everyone’s voice is heard.
According to Hoskinson, Cardano’s approach involves using delegated representatives and a member-based organization called Intersect. This helps break down complicated topics so that members can vote on them.
With the introduction of on-chain governance, two new entities have been integrated into Cardano’s power structures: DReps and CC members.
These new governance bodies, along with the SPOs, now share responsibilities for #Cardano with the three founding organizations: IOG,… pic.twitter.com/3yCPXwptrx
— Cardano YOD₳ (@JaromirTesar) September 24, 2024
Also, Hoskinson pointed out that blockchains can choose to keep things simple, like Bitcoin. He believes that Cardano’s model is more fair and involves more community participation, allowing everyone a seat at the table.
A Bumpy History
Interestingly, Hoskinson was one of the original co-founders of Ethereum back in 2014. However, he had a different vision for the project than Buterin, which eventually led to his departure from the Ethereum Foundation. During that time, Hoskinson wanted to focus on a for-profit model, while Buterin wanted a more open-source approach. This difference of opinion led to a meeting in Switzerland, where Buterin decided to fire Hoskinson from the project.
As blockchain technology continues to grow, finding a balance between leadership and community input remains a hot topic. Hoskinson’s comments serve as a reminder that even in decentralized networks, the question of who gets to make the rules is still up for debate.
Disclaimer
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Nermeen Nabil Khear