Research Summary
The report provides an in-depth analysis of Ethereum’s governance, decision-making processes, and the role of Ethereum core developers. It also discusses the Ethereum Improvements Proposals (EIP) process and the history of Ethereum hard forks.
Key Takeaways
Ethereum’s Governance and Decision-Making Process
- Off-chain Governance: Ethereum’s governance process is conducted off-chain, primarily through online forums such as Discord, GitHub, Ethereum Magicians, and Zoom. This approach prevents influence from large ETH holders and exploitation by malicious actors.
- Transparency Concerns: The off-chain governance process is intentionally opaque, subjective, and unstructured, making it difficult to audit and objectively evaluate.
Ethereum’s Hard Forks
- Frequency of Hard Forks: Ethereum has deployed 19 hard forks in the past 8 years, requiring the coordination of thousands of users that run and operate Ethereum software.
- Role of ACD Calls: The All Core Developers (ACD) calls play a crucial role in discussing and tracking governance decisions impacting the Ethereum protocol.
Ethereum Improvements Proposals (EIP) Process
- EIP Types: There are three types of EIPs – Standards Track, Meta/Process, and Informational. Each type serves a different purpose, from proposing code changes to providing general guidelines about Ethereum.
- EIP Editors: EIPs are reviewed by dedicated EIP editors for technical soundness and correct formatting. As of May 2024, there are five EIP editors.
Role of Ethereum Core Developers
- Influence on Decision-Making: The report raises questions about the extent to which end-users of the Ethereum protocol can influence the actions and decisions of Ethereum core developers.
Actionable Insights
- Understanding Ethereum’s Governance: Stakeholders should familiarize themselves with Ethereum’s off-chain governance process to better understand how decisions are made and who holds influence.
- Monitoring EIPs: Keeping track of EIPs can provide insights into potential changes to the Ethereum protocol and their implications.
- Participation in ACD Calls: Engaging in ACD calls can provide a platform for stakeholders to voice their opinions and stay updated on governance decisions.
