Bitcoin and Ethereum governance share common ground: both have small core teams, use 'rough consensus' and scrutinize improvement proposals. So what separates the two largest crypto networks? minds CEO Bill Ottman asks core devs for a Crypto2023 essay.
, or Bitcoin or Ethereum Improvement Proposals) and make minor changes quite regularly. In Bitcoin these changes are called “standardness rules,” which are not consensus critical and can be changed relatively often.For Bitcoin: On Aug. 15, 2010, a hacker created over 184 billion BTC due to a number overflow error. Bitcoin's total supply is meant to be capped at 21 million, so clearly this wasn’t acceptable. Ninety minutes later, Jeff Garzik spotted the issue.
In reality, both projects have numerous legal entities involved. While the Ethereum ecosystem is definitely more reliant on a smaller set of entities , there is no one entity that is the central coordinator. If EF or Consensys disappeared tomorrow, Ethereum development could continue as there are many independent teams developing core clients and other components of the ecosystem.
There have been a couple of useful interviews to come out of the “What Bitcoin Did” podcast hosted by Peter McCormack where a former Ethereum core team member, Lane Rettig, expressedabout the centralization of control in Ethereum . What was frustrating about the podcast was the lack of technical specifics from the Bitcoin Core perspective.
Decentralization applies to both computing power and governance, and both are essential in determining the holistic level of decentralization. “Things moving slowly ensures that things are done safely with plenty of discussion, review and testing. We've seen first hand on certain forks of Bitcoin the impact of big changes being rushed through. In this way, the psychology of the Bitcoin community is a big part of its decentralization.“Ethereum, on the other hand, places a lot more trust in Vitalik and the others to decide on the direction of the protocol.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bitcoin Hashrate Slides as Texas Miners Curtail Hashpower to Bolster the Grid – Mining Bitcoin NewsReports noted that bitcoin miners in the state of Texas curtailed their hashpower during a massive winter freeze.
Weiterlesen »
Mark Cuban: Bitcoin Is a Good Investment, Gold Investors Are Dumb – Markets and Prices Bitcoin NewsShark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says bitcoin is a good investment but gold investors are dumb.
Weiterlesen »
Peter Schiff Advises Selling Bitcoin Today — Says It's 'the Smart Move' – Markets and Prices Bitcoin NewsPeterSchiff has advised investors to sell bitcoin today, emphasizing that it is 'the smart move.' crypto cryptocurrency $BTC
Weiterlesen »
Ukrainian Steals Bitcoin From Russian Darknet Market, Donates to Charity – Bitcoin NewsA Ukrainian living in the U.S. has reportedly hacked a major drug market on the Russian dark web, diverting some of its crypto proceeds.
Weiterlesen »
Making the case that Bitcoin is not freedom: Pacific Bitcoin PanelLow penetration and difficulty in private use may limit Bitcoin's ability to bring freedom in certain situations. Experts discuss the complexities of using BTC as a tool for freedom.
Weiterlesen »
Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack – Mining Bitcoin NewsA major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in an announcement.
Weiterlesen »