> If true, this means that much of Ethereum’s promise to decentralize the web is in fact a lie: it may instead be controlled by a group of elites whose existence has been purposefully concealed.
> This also means that if Eth switches to proof of stake, the larger hodlers will have the power to determine consensus.
Absolutely correct and this is where the web3 hype origins were from. They are using web3 to pump their bags to get late comers buying into the Ethereum dream of 'decentralisation'. First it was the ICOs, then ERC-20 tokens, NFTs, The DAO scandal and now you have web3.
Sounds like 'decentralies' from the start. This article [0] summarises the entire problems in 'web3' and the mismatch of its proposed goals.
Worth noting, as it's unclear: Neither Preston Byrne (who wrote the tweet in the submission) nor Stefan W. Huber (quoted in the submission tweet) is part of the "founders" of Ethereum. However, the presentation quoted by the quoted submission tweet was made by Joseph Lubin who is one of the founders of Ethereum.
rvz|4 years ago
> This also means that if Eth switches to proof of stake, the larger hodlers will have the power to determine consensus.
Absolutely correct and this is where the web3 hype origins were from. They are using web3 to pump their bags to get late comers buying into the Ethereum dream of 'decentralisation'. First it was the ICOs, then ERC-20 tokens, NFTs, The DAO scandal and now you have web3.
Sounds like 'decentralies' from the start. This article [0] summarises the entire problems in 'web3' and the mismatch of its proposed goals.
[0] https://blog.mollywhite.net/blockchains-are-not-what-they-sa...
capableweb|4 years ago
You have it backwards. Web3 is what Ethereum called it's client APIs since as far as I can remember.
tata71|4 years ago
capableweb|4 years ago
drdeca|4 years ago
mgh2|4 years ago