BlockChain ‘Governance’
Blockchain Governance
Thursday 3H
Convener: Dave Shephard
Notes-taker(s): Guy Onename
Tags for the session - technology discussed/ideas considered:
Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:
Magic internet governance
———> Voting |—> Anonymity
———> Consensus |—> Pseudonymity
Auditing
Blockchain
1. Immutable system of record
2. Ordered
3. Consensus mechanisms
4. Permissionless
Bad actors make system anti-fragile
Decentralized/authority-less
What is the overall cost for maintaining the bitcoin blockchain?
[Christoper Allan]
- There is a transaction fee
[whiteboard]
Amount of bitcoin miners receive is;
———————
:arrow_lower_right:
25BTC (12.5BTC in 2016)
which gets cut in half every 4 years
- Bitcoin value is not going up which is causing a problem
[Dave Shepard]
If you want blockchain based governance systems. You get transparency and no humans can mess around with it.
[whitebaord]
- Transparency
——> Automated
[Christopher Allan]
Permissionless blockchains - systems are baked in to the system such as Ethereum
Permissioned blockchains - relying on the miners/consensus mechanism
There are hybrid model Permissioned and Permissionless blockchains
Sidechained blockchains are tied to Permissioned blockchains
Sidechains are pegged at a certain price and will always be the same
Can you change parameters of a blockchain?
Lightcoin is the second largest blockchain
Proof of stake
- Stellar
--- Governance
--- Proof of stake
— Proven
[Jude Nelson]
Permissionless is set at a extremely high price
[Kaliya]
Let’s not forget about governance out side of the technology
[Dave Shepard]
[whiteboard]
space ——> voting/consensus
Turkey has created a taxi system that uses voting system for the union. Bitcoin could be used for something like that.
Ordering is necessary to achieve consensus
- blockchain has to be solve the ordering problem then the consensus problem
[Christopher Allan]
Don’t need to have perfect consensus
Voting on the blockchain might be too soon
- Too difficult due to algorithm faults
Bitcoin is a public ledger. You can see the transaction but not the person doing the transaction (unless you’re a very large state actor). Hashes are used once per transaction.
UREA was making currency for governance
Paxos has been proven correct. [Jude Nelson] there’s a paper on it.
[Christopher Allan]
I believe there is not a proven governance model for all blockchains
- There’s a huge risk to the community if there is a “hard fork”
- They do not like federated systems
- It reminds me about Kaliya’s complaint which is why white male’s version of identity. Blockchain Identity has a lot to offer to this community.
[Mehdi - Oauth]
Augur uses crowd bets to produce predictions of war for example.
[Christopher Allan]
- There are various versions of consensus - 100% consensus, consensus +1, etc.
- If we can get a large sufficient group of people to vote, we can use that to get a better voting system
lifewithalacrity - Christopher Allan’s Blog (edited)
