It’s Time to Walk-the-Talk on Decentralized Governance

The time has come, they say, to move past the backroom wheeling and dealing – a hegemon calling all the shots, or a corrupt small group protecting special interests. DevCon, the ethereum conference in October, proved that crypto people (entrepreneurs, coders, users) want equal governance as an active goal of crypto projects. Cryptocurrency users are looking for projects that give them a direct say.  Source link

Libra Updates White Paper, Removes Dividends for Libra Association

The white paper for Facebook’s proposed Libra currency has been quietly updated, according to a Dec. 10 article written by Georgetown University law professor, Chris Brummer. Aside from expected amendments reflecting the revised Libra Association members, the biggest change is the removal of dividends payable to those early investors. Change in use of interest on reserve assets While the initial Libra white paper published in June specified that interest on the reserve assets would be used to cover system costs, keep transaction fees low, support growth, and pay dividends to…

Digix Integrates Dissolution Mechanism for DigixDAO

Gold-backed stablecoin issuer Digix has integrated a dissolution mechanism into its DigixDAO platform, created to fund projects which encourage the growth of the Digix ecosystem. Each quarter, DGD token holders will vote on the mechanism — called Project Ragnarok — with DigixDAO only continuing into the next quarter if the dissolution vote fails. The first Project Ragnarok proposal was recently submitted to the DigixDAO for voting, although the concept was first announced in a blog post on Nov. 29. Why introduce a dissolution mechanism? Digix makes clear that its position…

Risk of Centralized Voting for MakerDAO, Tezos, and Decred Abounds

Tezos, MakerDAO, and Decred show signs of plutocracy, thanks to concentrated token supplies and on-chain governance. CoinMetrics surveyed three blockchains with on-chain governance and discovered that their coin supplies are highly centralized among a small number of coinholders. The survey, published on Dec. 10, examines Tezos, Maker, and Decred — three blockchains that make development decisions through voting or staking. “Most staking protocols give some form of advantage towards large balance holders,” CoinMetrics notes, adding that this has ramifications in stake-based governance. “If supply is mostly held by a small number…

Markets Remain Depressed as Tezos Surges to Top 10

The cryptocurrency market remains mixed in early Friday trade, while the number of BTC/USD long positions continued to surge. Bitfinex long futures surged to a fresh record high at 41,300 contracts, breaking past the previous all-time high set on March 2018.  Tezos is the best performer inside the top 20 — now breaking into the top 10 — with the XTZ/USD pair returning to the best levels of the month after a minor technical correction earlier this week. Cosmos and VeChain were among the best performing coins, while the top…

Lisk’s Lightcurve Lays Off 40% of Workforce to Decrease Overheads

Blockchain development studio Lightcurve — a part of the Lisk open-source blockchain application platform — laid off 40% of its workforce earlier this week. Lightcurve and Lisk co-founder, Max Kordek, announced the decision earlier this week on Discord, citing a need for the project to cut costs. The job losses represent 21 of Lightcurve’s 53 employees, and in addition, the project has canceled the contracts of three employees who were set to join.  Kordek said that the firm would focus on keeping talent in the research, backend development and developer…