Ethereum Creator Vitalik Buterin shared his thoughts about which blockchain systems are the most promising in his view.
In a new video on YouTube channel zcash for, Buterin explained why he is against the block chain with edinom the decision-making body, such as EOS, where users choose their representatives, who keep the network running.
A couple of years ago I probably would speak out in support Tezos-EOS, who believe that the blockchain needs to be managed. But now? I’m totally against that, I think it’s a crazy idea.
EOS has 21 representative, who shall be selected by vote. To become a representative, you need to have sufficient stock of EOS or to holders of a sufficient number of EOS voted for you.
Also read – acne Buterin: cryptocurrencies will never grow up “1000 times”
In the last election was attended by 17% of owners EOS. Candidate who received the greatest number of votes is Bitfinex. And Bitfinex has only about 3.5% of all votes. Of these 3,5% 1,8% belong directly to Bitfinex. And the other 1.7 percent – just random people. Thus, the positioning of 1.8%, Bitfinex could single-handedly become one of the 21 delegates.
And that gives them this privilege? Basically, it gives them the option of receiving 1% per annum of funds allocated for delegates EOS. Thus, the voting mechanism makes this converges Pro-plutocratic effect, where if you’re big enough and have more than 1.8% of all the coins you can actually buy a place of the delegate and it will give you the opportunity to earn even more money.
Buterin also explained why he advocates the control outside the network.
Ultimately, from the point of view of the quality of decision-making, I believe that the management of Bitcoin was pretty bad because it is excessively conservative and appreciates very specific things in a much more large scale than most real users of this technology.
But besides this, I think Ethereum is quite capable of improving functions, which, I think, interested ordinary users. Guide zcash for great progress in its road map, which I think zcash for investors very happy. Bitcoin Cash begins to implement changes. There are many new blockchain projects. Monero makes the forks every six months.
And I don’t see all these blockchains that are not managed centralizovana had some problems with the decision-making.