Hey everyone!
I am a newbie here, I come from the EOS ecosystem, which collapsed due to not having solved the governance problem adequately. Before that, I was part of the Bitshares community, which also collapsed for the same reason.
So, my first question here is. Where does the bulk of the Cardano community interaction takes place? It feels pretty quiet both here and in the telegram channel; in fact, so quite that I doubt I am in the right place.
I mean, where is all the drama that usually comes with decentralization?
Kindly,
Jorge Ramos
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Hello @Immortal and welcome
Cardano community has a few distinct groups that are active on social media.
However, if you are looking for drama then Twitter/X is a place to be. Just follow a few key accounts and you will get all the drama you can handle.
If you are interested in actual discussions (plus some drama) then Discord is better:
Cardano Community Discord: Cardano Community
Intersect MB Discord (official government org): Intersect
Cardano Foundation Engineering and Development: Cardano Foundation | Engineering and Development
IOG Technical community (Cardano Developers): IOG's Technical Community
Hoskey (OG Degens and meme coiners of Cardano): HOSKY
There is also a large YouTube community, but that is not very interactive. You can always just check out Charles YouTube channel and read comments for some drama
There are other social media channels as well. These are just some that I personal visited and interacted with.
Once you get deeper into the community you will also see some very active private servers that are specific to certain groups or a niche with in community.
Hope this helps in your explorations.
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Wow,
That was a pretty comprehensive answer. Thank you!
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Welcome to Cardano Jorge. If you happen to revisit this thread, I’d be interested in hearing more about why you think EOS community governance failed. perhaps there are important lessons there. What could they have done better?
Hey! Thank you.
The EOS community operates under a Delegated Proof of Stake voting system. In which holders can delegate their voting power (stake) to Block Producers. Inflation from the network is then distributed to these BPs, which are responsible for ecosystem growth and ultimately, control the blockchain. This distribution is weighted according to how much stake each BP got delegated from holders.
The idea is that if a BP misbehaves, then community can remove its stake from that BP, preventing it from accessing network inflation and thus creating a harmonious governance system.
Wrong assumption.
What actually happened was that once BPs got in power, they have all the incentive to use a fraction of the inflation they were receiving and share it with their corresponding stakers. Basically a form of vote buying. As a consequence, people would then stake their EOS to the BP that brought them the highest percent of network inflation instead of any other quality parameter.
So, people couldn’t overcome their greed for the easy, immediate, money and power got concentrated in a few omnipotent BPs who, by then, had already formed a form of cartel. Great projects outside of the cartel weren’t supported, a lot of drama ensued. Many developers left, arbitrary, super centralized decisions were imposed, and most of the community disbanded.
This is a classic example of what is called incumbent advantage: a governance phenomenon in which those who get into power, leverage on that power to consolidate their position and become virtually impossible to remove; a form of positive feedback loop of self perpetuation. It happens in almost all forms of democracy.
I hope this gives you a taste of what happened. There are, however, more causes for the demise of EOS and Bitshares. All of them related to design principles.
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Thank you for sharing. I’d heard a few times that the EOS chain had run into some issues, but this was my first detailed read about what contributed to it. I think no matter what ecosystem you participate in, you will have a line of scrimmage between those with short-term wants or needs and those with long-term visions. Decentralized governance is a huge social experiment. I think Cardano is in a good position to get it right. We will see.