Hacker News Reader

But doesn’t this power dynamic - the fact that there is a miners committee somehow talking to a devs committee -beat the purpose of decentralization (no single decision-maker)?

Won’t this become politicized eventually and we’ll end up with a Central Bank-like structure? Imagine some elected dev going on CNBC to tell us they need to mint more coins.

View on HN

You still need to make decisions in a decentralized system, I don't really see what alternative you're imagining that's even more decentralized than "start a parallel chain if you dislike it, let people vote with their feet". You can't really start a parallel USD to see if people like your monetary policy better.

And, obviously, this is political. Miners make a lot of money off the status quo, devs want to reduce the energy/environmental impact of their chain. Proof of stake takes away a moat that miners have built around their operation (now anyone with 32eth can be a validator). There's no way out of that conflict of interests without some degree of politics.

Reply on news.ycombinator.com