Blockchains and constitutional catallaxy

Cryptocurrency Constellations Across the Three-Dimensional Space: Governance Decentralization, Security, and Scalability

“…Governance refers to the structure that supports transactions inside an organization, indicating the framework within which transactions are conducted (Williamson, 1979). Other researchers have interpreted cryptocurrencies governance as "constitutional" regimes, which encompass the rules and the rules about making rules (Alston, 2019;Berg, Berg, and Novak, 2020).…”

“…Developers have the technical ability to maintain the underlying code and to suggest code amends and upgrades, defining the future directions of the project (Berg et al, 2020;Pereira et al, 2019). Validators record and verify transactions, obeying to a specific consensus mechanism.…”

“…Some researchers see developers and validators as belonging to the same group (Alston, 2019). These two groups overlap as validators tend to have technical and functional knowledge about the protocols, voting, proposing, debating, accepting, or rejecting suggestions to upgrade the code, being often developers (Pereira et al, 2019;Berg et al, 2020). Therefore, these two groups of participants perform governance functions on behalf of users.…”

Improving IoT Federation Resiliency With Distributed Ledger Technology

“…The DLTs can help make the dynamics of collaboration more resilient because of their constitutional catallaxy nature: they allow for constitution-like rules to be decoded as immutable smart contracts of virtual organisations, thus offering a way to make such rules and their enforcement verifiable, and also immutable [19]. Verifiability is achieved with transparency.…”

Blockchain Governance: What We Can Learn from the Economics of Corporate Governance

“…The distribution of bargaining power determined by the former voting system is endogenous and the latter exogenous. Both endogenous and exogenous governance processes are subject to evolutionary pressure as technical developments (such as ASICs) and entrepreneurial innovation (such as mining pools) reshape the relative bargaining power of stakeholder groups [8,64].…”