Author: Peter Todd 2014-02-09 18:09:38
Published on: 2014-02-09T18:09:38+00:00
In a discussion between Luke-Jr and Peter Todd on February 9, 2014, Todd proposed an upgrade to the embedded consensus system with new rules. Luke-Jr argued that this would give developers too much power and assert a central authority. Todd countered that the rule change could only happen if users accept it, and his proposed mechanism would make it harder for developers to impose anything by fiat. He suggested that spending digital assets under new rules would decrease the amount available to trade with users who chose to accept only the old rules. The process is safe for both groups, and developers cannot claim safety concerns to force the community to upgrade. Instead, they would have to be clear that any assets moved to the new system may become worthless if the community doesn't accept the new rules.
Updated on: 2023-06-08T02:24:05.039923+00:00