I will preface this blog post by saying that my aim here is to set out and list some suggestive, not definitive, evidence I see of increased centralization in the Ethereum ecosystem. It sets out a hunch, not a mathematical proof. If you disagree with my opinion, that’s your prerogative. If you want to convince me otherwise, go dig up the hard data and prove me wrong.
There have been a few good predictions pieces so far this year. This one is my encore from last year, with a little help from my colleagues at Messari, who are building the industry’s best market intelligence platform.
Without further adieu…
Organisations come in many shapes and sizes. The blockchain allows us to experiment with radical new ways to organise around collective goals. We’ve seen the ICO boom (and bust, for now). For many, it was a novel way to re-imagine how certain projects can come to fruition and exist. ICO’s, however, are only the start and tip of the iceberg of what’s to come. In this article, I will detail thoughts around the Moloch DAO. It’s a new type of organisation that blurs and redefines the definition of a firm.
Katinrun is the first open source blockchain community in Thailand. We are developing an Ethereum-based donation platform where a donee who needs some support and a donor who wants to give support can meet together. We are aiming at creating a donation platform that provides transparency and accountability to every donation campaign. The platform we are creating, moreover, must be fully driven by an open community.
Mining attacks are overblown, mostly by people that are trying to print their own money (or at least be the elite in the new currency). 51% attacks are too costly to be economical, have too little a payoff to generate much money and are too limited to hurt more than perhaps a few companies or individuals.
It’s even possible that a 51% attack that screws an exchange out of 100 BTC or so wouldn’t necessarily be a bad thing for Bitcoin. Much like the BCH hard fork, it’s possible such an event would prove Bitcoin’s antifragility and cause a large rally.
This article is the public disclosure of a series of resource exhaustion vulnerabilities investigated by a team of students. These vulnerabilities have affected 26+ Proof-of-Stake cryptocurrencies in total and would allow a network attacker with a very small amount of stake to crash any of the network nodes running the corresponding software.
Once we understand what DAOs are useful for and what types of organizations they tend to beget, the next question becomes what are the global macro trends that would lead people to want to build those types of organizations or have those types of use cases? A set of trends stand out.