Vitalik Buterin, the founder of Ethereum, has expressed his opinion on transferrable governance, stating that power-hungry individuals should not be qualified to lead. He stated that the idea of transferable governance tokens in decentralized autonomous organizations (DAOs) is incompatible with their primary function.
This illustrates the conundrum between granting the ability to voluntarily assign resolution energy and providing energy to a select few.
Buterin Expresses Concerns Regarding Change Of Governance
The founder of Ethereum stated that the change in governance will allow those who are committed to gather such energy to take action.
However, although some folks found his tweets to have important information, others disliked his viewpoints.
In response to Buterin’s post, Twitter user Muki stated that delegation of decision-making power is unavoidable. The community member claimed that it is impossible to expect everyone to participate in decision-making. He stated that a voluntary delegation of decision-making authority is preferable than not participating or making uninformed decisions.
Willyogo, a another Twitter user, stated that desiring to rule humans and having transferrable governance tokens are distinct. However, the community member acknowledged that there is still potential for improvement in the DAOs’ voting systems.
Governance Transferability Could Improve Resolution Procedures
Another Twitter user, Vagobond, applauded the concept of fully recallable delegates, stating that it is a step in the right direction. The proposal establishes a mechanism for automatically removing delegates and removing their authority when they do not represent the interests of those who delegated votes to them.
Some users preferred the use of blockchain-based technologies, such as picking key positions in a DAO using verifiable randomization. In accordance with a further proposal by a community member, there should be a random selection of token holders with the option to rotate them if they fail to engage in any on-chain activity.
Web3 consultant Hilary Kivitz discussed DAO at the just concluded Ethereum Group Conference in Paris. He provided advice on the most effective means of preventing takeovers within the DAO. He stated that one of the numerous ideas is to include poison pills in favorable contracts, which might dilute the votes of exploiters.
