The founder and CIO of Cyber Capital, Justin Bons, has criticized the ETH governance for being highly centralized. According to Bons, controls in the ETH chain are exerted through the software clients without checks or balances.
1/9) ETH governance is effectively highly centralized
Control is exerted through the software clients without any checks or balances
This is true for most chains, including BTC
GitHub is a virtual dictatorship, as shadow rulers hide behind their fake meritocracy like a shield:
— Justin Bons (@Justin_Bons) October 7, 2023
Bons expressed his opinion about the chain in a recent thread on X (formerly Twitter), where he noted that his observation on ETH governance is similar to that of most chains, including BTC. The acclaimed researcher believes GitHub is a virtual dictatorship that allows shadow rulers to hide behind their fake meritocracy like a shield.
The Cyber Capital CIO further stated that ETH’s leadership has gone out of its way to disparage on-chain governance. He believes that by doing so, they are hurting the only mechanism that could act as a check against the status quo. According to him, off-chain governance is just old-school politics without democratic protections.
Bons decried the political game in the background of most supposedly decentralized projects. According to him, it does not matter how much the people pretend development is an egalitarian meritocracy. He thinks that lead maintainers exist within the system.
The researcher noted that human nature influences the governance systems across several projects. Hence, he suggested that decentralized ecosystems should implement good governance to help mitigate such negative influences associated with human nature. He thinks that is the root of the problems with ETH’s leadership about ETH governance.
Bons compared ETH developers opposing on-chain governance with feudal lords, dictators, or monarchs opposing a constitution. According to him, they do so to protect themselves, as a democratized system would limit their powers and control over the protocol. The researcher believes that is the basis of the corruption experienced in several supposedly decentralized ecosystems.
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