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Farewell to the Crypto Foundation: Reconstructing a New Governance Mechanism for the Blockchain Industry
The Flaws of the Encryption Foundation and Alternative Solutions
The encryption foundation was once an important tool for promoting the development of the blockchain industry, but it has now become a major obstacle to development. With the proposal of a new regulatory framework by the U.S. Congress, the encryption industry has welcomed the opportunity for change: it can abandon the encryption foundation model and adopt a more clear and scalable mechanism to rebuild the ecosystem.
The encryption foundation model originated from the early founders' decentralized idealism, aiming to act as a neutral manager of network resources. However, over time, this model has exposed numerous issues:
In comparison, the structure of conventional development companies can better support the long-term development of the network:
To address potential conflicts of interest, the following tools can be used:
Two emerging implementation solutions are worth paying attention to:
These new architectures and tools are capable of providing better incentive coordination, accountability, and operational efficiency while maintaining decentralization. They represent the future development direction of the encryption industry, helping the industry move away from dependence on encryption foundations and establish a more sustainable and scalable ecosystem.