Ethereum co-founder Vitalik Buterin stated that future on-chain mechanism designs will have a “two-layered” structure. Accordingly, the first layer will be a transparent and accountable execution layer where correct decisions are rewarded and incorrect decisions incur costs. Prediction markets were cited as an example. The second layer will be a decentralized, pluralistic, and hijackable preference and judgment layer. This layer will utilize anonymous voting, prefer systems like MACI to prevent collusion, and will not be token-based to avoid 51% attacks. $BTC
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Ethereum co-founder Vitalik Buterin stated that future on-chain mechanism designs will have a “two-layered” structure.
Accordingly, the first layer will be a transparent and accountable execution layer where correct decisions are rewarded and incorrect decisions incur costs. Prediction markets were cited as an example.
The second layer will be a decentralized, pluralistic, and hijackable preference and judgment layer. This layer will utilize anonymous voting, prefer systems like MACI to prevent collusion, and will not be token-based to avoid 51% attacks.
$BTC
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