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RE: Ugh-Oh!! Tezos In Trouble- Management Embroiled In Deep Conflict... Wallstreet Journal Article

in #crypto-news7 years ago (edited)

It's pretty ironic that the key feature of Tezos is it puts rules of governance under control of the blockchain itself (at least as I understood it). So you don't have to rely on human factors like a bunch of miners deciding to adopt your new blockchain code changes. That kind of issue has been a bone of contention for both BTC and ETH so far resulting in the BCH and ETC forks of those currencies. With Tezos such decisions can be put on the blockchain and automatically rolled out... And if mistakes are made they can be rolled back too. This feature would have allowed the modification to ETH to "undo" the DAO contract "glitch" to be voted on and roles out without a hard fork, and if it was subsequently found to be a problem it could have been reversed.

I'm not sure what other features Tezos has but that to me was a big one. I didn't invest in it but I think it is a novel concept. So yes, ironic that this coin which is innovating in blockchain governance is getting bogged down in governance issues before it even got launched.

If you want to read more about this crypto spat between the Tezos creators and their Swiss foundation you can check out this Reuters article: https://uk.reuters.com/article/uk-bitcoin-funding-tezos-special-report/backroom-battle-imperils-230-million-cryptocurrency-venture-idUKKBN1CN35A