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Censorship, centralization and control have become the buzzwords around Ethereum in the recent few months. It started after the implementation of so-called Ethereum Merge on the network.
User’s Question to The Ethereum Community
A Twitter user with the nickname mr.y raised a question to the Ethereum community about the inner governance structure and the decision-making process in which the future of Ethereum network is decided and the roadmap is also formed.
The user said that it is hard to call a network truly decentralized when its faith is decided by one person only. Now the future of Ethereum has become more questionable as the way decisions are made still remains unclear.
On the other hand, some users and devs also think that Vitalik Buterin gathers information from developers, enthusiasts and validators to form a consensus that becomes a foundation of a roadmap in the future.
User raised the aforementioned approach and questioned Ethereum’s co-founder to clarify how exactly the Ethereum founder gathers opinions about the future of the blockchain outside of the core team.
The co-founder recently replied on the long-tailed twitter thread in his style as he talked to users on conferences and via private messages since it is a convenient way of collecting data and then forming a consensus on the future of the network.
He further cited one of his methods of forming a network-wide consensus that is “passively reading Twitter and Reddit like everyone else.”
This caused a mixed reaction in the community since forming an opinion based on an algorithm-based recommendation feed could be not up to the mark, to say the least. He additionally shared the updated roadmap diagram with an image in his twitter account.
Here, if we see the current Ethereum price today is $1,623.22 USD with a 24-hour trading volume of $9.91 Billion USD. While Ethereum is down 1.36% in the last 24 hours.
Furthermore, on September 23, 2022, Bloomberg shared a report on Ethereum Centralization and called it Much-Hyped Upgrade. The report cited that some crypto watchers turn to industry measure to weigh change Nakamoto Coefficient for blockchain has shrunk after the Merge
Additionally, this network upgrade of the world’s most commercially important crypto network, Ethereum, was supposed to make it less centralized and vulnerable to attack, the report said.
Also, a little more than a week after the upgrade, industry experts fear it may have the exact opposite effect. Crypto enthusiasts are poring over an obscure indicator birthed during the early days of crypto, dubbed the Nakamoto Coefficient, (an accurate indicator for blockchain), to evaluate the consequences of the ‘Merge’.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
