ETC vs. ETH and a Community Consensus

Recently there has been a vivid discussion among Ethereum community.

Recently there has been a vivid discussion among Ethereum community. After the DAO attack and two completely contradictory opinions that appeared a community basically split in half. Each part with its own powerful arguments.

After reading through several online discussions I have even came to an opinion that this topic is matter of democracy while the counterpart opposed that we are currently witnessing the “tyranny of majority”. On each side we have people who are determined to support the values they considered to be the core of decentralized systems.

Now the question arose, is there one specific core principle of Blockchain technology and if yes, which one it is? On one hand, we have supporters of the absolute immutability. According to this opinion Blockchain is simply a record of what happened and cannot be changed under any circumstances. On the other hand, we have people supporting the idea, that a theft should be punished and reversed if possible. To answer these questions we would need to specify if it is immutability or common consensus that represents the very basis of Blockchain ecosystem.

When going deeper into the arguments, I have found multiple aspects that caught my attention on both sides. Looking at the originally presented Ethereum features, the project promised to provide a secure system which nobody can interfere. Its supporters state, they came here for the uniqueness of the code and not for the money. From this point of view, the hard fork of the chain represents a step that denies its principle and shows, there are actually no rules within the network. To oppose this outcome, there is an important insight into this topic. Every cryptocurrency is governed by the market, by the people who make it real and no technical principle should be put above this. Simply said, if the non-fork solution would have been considered as a better solution, the market would have agreed on it.

However, according to various theories it is hard to consider the market as a rational entity, until we can ensure that every single member of it has all the necessary information and detailed knowledge about the particular issue. When we look at this situation from the candid point of view, allowing people to make their choice is the best possible outcome. Firstly there was a voting and now we have both chains following its own direction. Ethereum Classic and hard-forked Ethereum seem to coexist pretty well and provide an alternative for most people involved.

We in DECENT consider all the above mentioned principles an inevitable part of decentralized systems and believe that every member of human society should be able to make his/her own choice. Both parts of the community have their right to support their cause and DECENT is therefore determined to allow everyone to join as we accept both ETC and ETH during our ICO.