Ethereum is already one of the second largest and popular cryptocurrency after the bitcoin. It also proudly holds the third position in terms of value and widely known for its D-app deployment and smart contract. Its decentralized network has always served as a general purpose computing platform among developers. However, in this amidst in downside of cryptocurrency, the sky is not all clear for ethereum too. The network is facing its share of challenges in its way and the nagging truth behind ethereum (ETH) facing challenges is the low number of core developer skilled in determining its network issues.
Recently, a prominent core developer Lane Rettig said that as a small unit is responsible for determining what happens inside the network, the situation is filled with several disturbances, basically non-technical. He further elaborated that all these factors make the technocrats unable to solve the emerging issues encountered on the ethereum protocol.
In his post on twitter retting said:
Ethereum governance has failed.
We are a de facto technocracy, where a small group of technocrats, the core devs have final say over what goes into the protocol.
Rettig further believes that the non-technical issues of the network are new and challenging. Thus developers are finding themselves unskilled and unqualified to make the right decision for the network or to write the codes for them. He also added that in the current situation, ETH is left with only a few options i.e. either to surrender their governance fully like we see in bitcoin or allow ethereum owners to participate in decision making of the network.
Emphasizing the issue Rettig also suggested that ethereum as a decentralized model should stop operating and need to work as a centralized model, to assure more transparency, accountability in the governance system. However, this is not the first case when ethereum, the leading Blockchain cryptocurrency project is facing challenges. It has faced several allegations concerning its proof of stake model in the past and now, if Rettig point is considered correct then we believe this is the high time, ethereum model should go under some essential changes to make the system stronger and efficient to survive long.