Blockchain
By Steven Anderson
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Lex Fridman: So, you did say, the success of Cardano, the division you have, is for you to have less and less power over time.
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The first thing you have to do is you got to look at meaningful metrics, not vanity metrics. So, what does it mean to have legitimacy in a Governance System?
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In a peer democracy, where everything that the person votes, nothing ever gets done. So, there is a spectrum there between absolute power to one and perfectly Egalitarian power…
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And then the question is okay. Well how do you have a choice of the architecture? Are you asking your people about every question or you are asking your people about a…
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For example are they ready to change the tax rate, but they can’t change freedom of speech, that kind of a thing.
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In Bitcoin we had Bitcoin Talk, Bitcoin Reddit and these things and eventually they get a place to go if you are interested.
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You need some sort of change in management system. Where people who want to evolve the system can write it down in a very careful way.
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Then, there is a question of do you want to do it implicitly or explicitly. In the case of Bitcoin and Ethereum, it is an implicit system.
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In the case of Cardano, we are actually explicitly inviting. This is one of the biggest differentiators between Cardano, Polkadot, and EOS.
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So, in Cardano some of the inflation goes to the block producers just any other cryptocurrency.
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What is nice thing is absolute participation. So, increase the amount of people whole hold ADA participating. So, the absolute number of people participating.
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