decentralized ETH ethereum social

Ethereum (ETH) on the importance of Source Verification and Understanding Community Acceptance

June 30, 2020 Off By dan saada

Source Verification is the process where the on-chain deployed code is matching with the published source code. To ensure source verification the source and metadata needs to be published.  This will in turn help developers know if the deployed code is an exact match to the published files.

Source contracts are crucial because without them it is not possible to tell what the application is set to do. The basic aspiration of decentralization is to build a trustless infrastructure. Being trustless is important to avoid the need to trust third parties.

A source ensures that what is being used is exactly similar to the source. Avoids the need to blindly trust a dapp developer or the Web3 project.  Those who are not really technically knowledgeable will be able to leverage the power of the crowd and get help from developers to point out and call out to the malicious code if it is a source verifiable.

Ethereum retweeted:  “We just published an FAQ, answering many questions around source verification! We cover the very basics of source verification, metadata and NatSpec, how everything is connected & what we’re trying to achieve with Sourcify. We also discuss UX & tooling.”

Sydney Ifergan, the crypto expert tweeted:  “Ethereum Network is powered by top business leaders, industry experts, technologies, developers, and all focused on improving their power with improved scalability. ETH Progressive.”

As always a lot of things are continuing to happen on the network on the developer side.

Ethereum (ETH) Voting and Proof of Social Media

Vitalik Buterin recently wrote: “We’ve been looking for ways to gauge community support for protocol changes beyond coinvotes and “proof of social media” for a long time. Coinvotes too plutocratic, social media unclear and attackable. Quadratic funding may be incidentally providing a third alternative.”

In response some of them stated that it is not easy for everyone to vote on a protocol in the EIP either for or against as ordinary and even some of the most educated developers might not understand the concept.  Some of them get to understand things with concrete examples and numbers.

Some in response to the support stated that a community cannot be centralized indicating that voting brings in some kind of centralization. There need to be however some kind of gauge to assess the community sentiment.  From the real-world point of view, it is important to know whether something will work or not.  While the developer knows and the testing processes will confirm it, the idea of acceptance for user comfort is something that real users can answer of the answer is derived with the evolution of time.

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