On Network Security and Number of Honest Actors Assuming a Finite Potential Hashrate

I agree. Usage should be the goal.

Folks are evidently satisfied to specmine at 50 TH, the block times are stable, the network is secure and stable.

The price is still falling, and to me that indicates that the ones who claimed they would turn off the rigs and buy ERG with the savings are unworthy of any further attention.

Now is the time to fill bags and focus on what is coming from the dev side. We miners have had our say.

ETA: I also do not intend to derail OP’s discussion, nor am I against developing EIP 38.

I just think that when it comes to protocol security assurance, a conservative approach should be applied. If your concern is that small miners are disenfranchised by pooling and that this leads to dominance by certain pools in voting, then perhaps we should consider a governance solution that is separate from hashrate.

Maybe it should work like this:

Anyone can propose changes to the platform in the form of a provisional EIP (pEIP), here in this forum.

After a period of discussion, the terms of such an EIP could be put to a vote among the users of the blockchain. Users that wish to spend their governance tokes on the pEIP may do so, and vote for or against the pEIP.

If the pEIP reaches a certain threshold of upvotes, then the concerned parties should develop an EIP, work with the core devs to implement it, and then the miners vote on implementation as always.

The governance tokens would get distributed via a pseudo-randomized weighting of the volume of transactions between various wallets, with some anti-spam tactics. I also think such governance tokens should expire after a time.

ETA 2: This is being discussed in another thread:EIP: Democratic Governance - Users, Devs & Miners

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