Inside the blockchain developer's mind: The governance crisis

We need to remember that these were developed at a specific moment in time, and that time is now in the somewhat-distant past when blockchain technology was still in its infancy.

Bitcoin doesn't need a governance system because it is not a general-purpose computer.

The reason general-purpose computers need a governance system is that computers need to be upgraded.

The blockchain is written in a different language than the smart contracts.

Developers must be able to code up the behaviors they would like to see in the blockchain as smart contracts, and there must be an on-chain process for adding this behavior to the system through an explicit upgrade path.

The appropriate place for governance is in determining which smart contracts are made into "System" contracts based on whether they will increase the value of the protocol.

Every major blockchain only recognizes one class: capital.

If we can codify individual classes representing infrastructure, development and capital, then upgrades that receive approval from all three classes must, by definition, add value to the protocol, as these three classes encompass the totality of stakeholders within any economy.

Such a governance system, when combined with a highly upgradeable platform, would be able to rapidly adapt to the needs of developers and end-users, and evolve into a platform that can meet the needs of everyone.

Their foundational product is Koinos, a high-performance blockchain built on an entirely new framework architected to give developers the features they need in order to deliver the user experiences necessary to spread blockchain adoption to the masses.