Link and Ethereum
then why should I say that lightning bitcoin is a great currency experiment? We compare lightning bitcoin to a free economy with three major stakeholders: developers, miners and holders
so far, no blockchain project can effectively govern the three. Why? The reason is very simple. In an ICO project, the developers, coin holders and even miners are the same group. It's easy to understand. Why should he give the best interests to the ICO holders? This is obviously not in line with human nature. The reason why lightning bitcoin dares to do chain governance is related to the issuing mode of lightning bitcoin. LBTC's "governance on the chain" is another attempt to "decentralize", which is also very eye-catching. Dpos mechanism determines that there are 101 nodes in the network. At the same time, unlike pow, the right of choice is in the hands of the coin holder. These nodes will be elected by the vote of the coin holder. When the node does not act, the user can vote out of the network. According to last week's weekly report, LBTC's block browser has also added this function, which can view the operation of nodes in real time. It also paves the way for LBTC's "chain governance". In the LBTC system, all coin holders can vote to decide whether the project development proposal will go or stay, and all members of the organization can participate in the decision-making and operation of the organization. In addition, the 5000 standard of lockup after the election of the lightning node ensures that the node is both a mine pool and a coin holder. In this way, the relationship among miners, developers and users is well balanced, and the foundation of an autonomous organization is formed.
1. Efficiency is different: the efficiency of decentralized network is higher than that of centralized network, but conversely, the security of centralized network is higher. On the whole, centralized network is suitable for high security applications
2. Different characteristics: centralized network means that each time two client computers communicate with each other through the server. The decentralized network is the initial need to go through the server, later communication does not need the server
3. Different costs: the characteristics of collective maintenance of blockchain can rece a lot of costs. The centralized network involves the maintenance, confidentiality, operation and so on of many systems, which must require a lot of human, financial and material resources. These things do not exist for the decentralization of blockchain, so they can save a lot of costs
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precautions:
in the aspect of blockchain governance, an interesting trend recently is the re emergence of online virtual currency holder voting as a multi-purpose decision-making mechanism. Sometimes the vote of the coin holder is used to decide who runs the super node of the network (e.g. dpos in EOS, Neo, lisk and other systems), sometimes the protocol parameters are voted (e.g. the upper limit of Ethereum fuel supply), and sometimes the vote and direct application of approval (e.g. tezos) protocol upgrade are also concted
in all these cases, voting is automatic, and the protocol itself contains all the logic needed to change the verifier set or update its own rules, and automatically responds to the voting results
