The Ethereum Community Conference Proposed The Fellowship of Ethereum Magicians

The Ethereum Community Conference (EthCC), which was held in Paris last week, brought together some of the most passionate community members from the Ethereum blockchain network. The event had interesting topics, one key point though, was the ethereum governance issues.

Staying true to its name, the EthCC largely focused on learning what different segments of the community think about the progress that the network has been making, its present standing, and its approach towards the future.

Among other issues, one theme that remained constant throughout the conference was the stance towards Ethereum’s governance issues, which was no surprise seeing the current and passionate discussions that have been going on from all segments of the network on the Ethereum Improvement Proposal (EIP) 867.

About the eip causing ethereum to have governance issues

The EIP 867 is a proposed modification to the functionalities of the Ethereum network that will allow the retrieval and/or reversal of funds to original holders in case of any incidents of theft, code errors or other issues that cause any rightful owner of Ethers to lose their funds to unforeseen events.

The EIP, when implemented, would allow any affected users to report such issues to the network, where core developers would be able to entertain the requests and take further actions accordingly for the reversal of funds.

While this remains practical in approach and reminds people strongly of the DAO initial coin offering (ICO) incident and its subsequent reversal of funds, a section of the Ethereum community thinks that this will destabilize the decentralization aspect of the network and is therefore an unacceptable step.

The comments from both ends of the spectrum on this aspect have since been passionate, but do not seem to be leading towards a consensus anytime soon.

While the community members exchange strong words with one another and look towards the Ethereum developers to take a stand, the Ethereum developers themselves call for the community to weigh in.

This cycle of back and forth comments has seen a kind of strain that had not been noticed within the Ethereum community since the DAO incident which led to the hard fork between Ethereum and Ethereum Classic, and thus the more prolonged that this discussion becomes, the more concerns it raises.

The ethereum community conference remained rife of comments about similar changes

The EthCC also remained full of comments and questions just like the EIP 867’s GitHub page, and the talks then kept turning from the immediate resolution of this particular EIP – since it is not as easy as it might seem – and towards tackling such issues if and when they arise in the future.

One solution that was proposed to resolve these issues came from Greg Colvin, developer of the Ethereum Virtual Machine (EVM), who dubbed the proposal as the “Fellowship of Ethereum Magicians”, a small council of developers which would specifically work towards ensuring a transparent and effective model of governance for the Ethereum Network.

The Fellowship is being backed by another senior name in the Ethereum Network, Jamie Pitts, who belongs to the Ethereum Foundation.

While still rough around the edges, the Fellowship’s consensus model will be able to invoke productive discussions between core developers, to take community comments into account which are specifically provided for the Fellowship to consider and to reach collective consensus on any issues, aiming to do so in a timely manner.

While a positive concept, the Fellowship, not unlike other topics from the EthCC, remains in limbo for now. It seems that until and unless the ongoing issue of the EIP 867 gets resolved, starting an initiative of this sort would not be able to bring the community together – as it might get accused of having underlying intentions, no matter if it helps pass or deny the EIP 867.

By | 2018-06-28T17:33:27+00:00 March 16th, 2018|Ethereum News|0 Comments

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