Re:Upgradeable smart contracts in Ethereum
by zilitor on Wednesday April 18, 2018 @01:27PM
(#16869166)
This is a good point. However, there is still fairness through: 1) transparency 2) adding fair criteria to upgrade.
Criteria to upgrade: like chrisshroba mentioned, one can use a decentralized algorithm to vote on upgrade, making it more fair. Altnerativley there are things like SageCoin in which a fair 3rd party can step in to settle a dispute. This is more centralized, but still blockchainers seem to appreciate this. Below is a quote from Vitalik that I think roughly applies here. (also im not trying to favor the latter method)
Criteria to upgrade: like chrisshroba mentioned, one can use a decentralized algorithm to vote on upgrade, making it more fair. Altnerativley there are things like SageCoin in which a fair 3rd party can step in to settle a dispute. This is more centralized, but still blockchainers seem to appreciate this. Below is a quote from Vitalik that I think roughly applies here. (also im not trying to favor the latter method)
https://vitalik.ca/general/2017/12/17/voting.html "feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy"