Blockchain Governance and the Concept of Organized Anarchies
Too Long; Didn't ReadDecentralization and distributed authority are core values for the blockchain community, and the governance regimes that have evolved alongside public blockchains tend to reflect these values. That is, the decision-making processes of public blockchains tend to be characterized by decentralized participation and loosely defined procedural rules. Yet, it is evidenced that some blockchain governance structures have become much more centralized than what was originally expected. What has caused this tendency towards centralization?