Category Archives: Decentralization
Study Shows Why Decentralized Platforms Backslide – UT News – The University of Texas at Austin
AUSTIN, Texas For decentralized platforms to stay autonomous, such as cryptocurrencies, creators and proponents must overcome a range of specific challenges, according to new research from The University of Texas at Austin.
Communities looking for freedom from regulation are rallying around alternatives to established banking systems, social media platforms and search companies such as Facebook and Google but many struggle. Understanding the common pitfalls of decentralization may make these platforms more resilient.
Theyre supposed to be more egalitarian and democratic, but you often end up with power in the hands of a few individuals or institutions, said Michael Sockin, an assistant professor of finance in the McCombs School of Business who led the study. Were raising some issues that we think creators and the community havent fully thought about.
The research is published in The Journal of Finance.
With Wei Xiong of Princeton University, Sockin modeled one kind of platform, known as a decentralized autonomous organization (DAO). It works like this:
On one successful DAO,Filecoin, the service is data storage. Users exchange tokens to rent storage space from other users, as alternatives to cloud companies such as Amazon.
The researchers modeled how DAOs evolve over time, comparing them with centralized platforms with investors. They found several lessons for what works and what does not.
They first found that small is beautiful. Selling tokens works best for small groups that are passionate about a specific purpose. Such DAOs have formed for targeted goals likebuying digital artorraising aid money for Ukraine. But recruiting more users risks pulling in people who are less committed and less likely to contribute services.
Its like a neighborhood association, Sockin said. If not enough people are willing to help to fix the fences, the community doesnt do well.
The study also found that decentralization is economically fragile.Centralized platforms are more likely to survive an economic downturn, because big investors can put in more money.
And finally, tokens draw speculators.A problem arises when a DAO allows users to buy and sell tokens. That activity can attract speculators who care more about profit than the communitys purpose.
The researchers point to cryptocurrencies, which were meant to be used for buying things. Instead, they get held as investments. Over time, Sockins models predict, a few entities tend to accumulate both tokens and control.
The ability to get high returns has hurt cryptocurrencies as mediums for payment, because people dont want to spend it, he said. They can easily take us back to being like Amazons and Apples, which is the whole issue we were trying to move away from.
Read the McCombsBig Ideas story.
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Study Shows Why Decentralized Platforms Backslide - UT News - The University of Texas at Austin
Blockchain And Crypto: Are They Heading Towards Centralization … – Blockzeit
As the world delves deeper into the realm of blockchain and crypto, the debate regarding the future landscape intensifies. The question that lingers in the minds of industry experts and enthusiasts alike is whether this transformative technology will lean towards centralization or decentralization.
While there are no definitive answers to the varied arguments raised concerning this matter, examining various perspectives and factors can shed light on the potential trajectory of this evolving industry. This time, we will take a look at the subject based on the points brought forth during the World Economic Forum (WEF) 2023 in Davos, Switzerland.
Blockchain and cryptocurrency ecosystems encompass a range of centralized and decentralized elements. Cryptocurrencies like Bitcoin and Ethereum operate on decentralized blockchain networks, allowing for peer-to-peer transactions and eliminating the need for intermediaries.
However, centralized crypto exchanges and custodial services provide liquidity and convenience for users, highlighting the existing centralization in the space.
Many proponents of blockchain and cryptocurrencies champion the power of decentralized systems. They argue that decentralization enhances security, transparency, and individual empowerment by eliminating the reliance on trusted intermediaries.
Decentralization believers envision a future where blockchain technology becomes widely adopted, enabling control over data, finances, and governance to be distributed among network participants.
While decentralization holds immense promise, practical considerations warrant a closer examination. Centralized exchanges, for instance, offer liquidity, ease of use, and regulatory compliance, which can attract mainstream users and institutions.
Moreover, finding a balance between centralization and decentralization in governance mechanisms may be crucial to address scalability, efficiency, and decision-making challenges.
The regulatory landscape significantly influences the trajectory of blockchain and crypto. Various jurisdictions seek to enhance consumer protection, fight money laundering, and ensure compliance with existing financial systems.
Consequently, regulations may introduce centralized oversight and control within certain aspects of the crypto ecosystem. With that, striking the right balance on the factors mentioned is essential to prevent stifling innovation while maintaining safeguards for market participants.
Another potential future lies in the further emergence of hybrid models that combine elements of centralization and decentralization. These models involve interoperability between different blockchains, federated systems, or layered protocols.
By providing scalability and flexibility while maintaining some level of central coordination, hybrid models aim to address the needs of diverse use cases and stakeholders.
The future of blockchain and crypto hinges on a complex interplay of technological advancements, economic considerations, societal acceptance, and regulatory developments. This intricate ecosystem defies a straightforward prediction of a wholly centralized or decentralized future.
Instead, it is likely that the space will continue to evolve, striving to strike a delicate equilibrium based on the specific demands and perspectives of different use cases and stakeholders involved.
Nothing is certain in the future of blockchain and cryptocurrency as it continuously navigates the delicate balance between centralization and decentralization. While decentralization offers numerous advantages, practical considerations, and regulatory influences necessitate a measured approach. Meanwhile, the emergence of hybrid models is seen to bridge the gap, offering the best of both worlds in terms of scalability and coordination.
As the industry progresses, stakeholders must engage in ongoing dialogue to shape the future landscape in a way that promotes innovation, inclusivity, and the efficient functioning of the global economy.
Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeits dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager of a consultancy firm.
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Blockchain And Crypto: Are They Heading Towards Centralization ... - Blockzeit
Don’t Join ThreadsMake Instagram’s ‘Twitter Killer’ Join You | WIRED – WIRED
The fact that large platforms are adopting ActivityPub is not only validation of the movement towards decentralized social media, but a path forward for people locked into these platforms to switch to better providers. Which in turn, puts pressure on such platforms to provide better, less exploitative services," Mastodon CEO Eugen Rochko wrote in a blog post ahead of yesterdays Threads launch.
Easy examples of decentralized services you already intuitively understand are phones and email. You can call anyone on any number, even if you and the person youre calling buy phone service from different companies. Same with email. Even if pretty much everyone you know uses Gmail, theres nothing materially different about emailing with the Yahoo and Hotmail holdouts in your life. And maybe your friend Jane runs her own email server and her address is jane@janerox.com. Love that for you, Janedoesnt change anything for anyone else.
Thats it. Thats how the fediverse, or federated services, work too. You join a server, and youre trusting that server with your data. But then you can communicate with all the other servers running the same protocol, and the only data everyone on all those other servers can see from you is the content you choose to put out there. So Gmail has all of your emails and usage history, and Jane has all of her own emails and usage history, but the only data she has about you on her server is the emails youve sent her. And the only data Gmail has about Jane comes from her interactions with you and any other Gmail users.
Decentralization doesnt change the basic functions of a social network, and thats fine. The whole point of these services is to be a platform for publicly posting and consuming information. They arent designed around implementing end-to-end encryption. The servers still have access to user data and can be subpoenaed by governments or hacked. But decentralization creates a model through which users can elect to entrust their information to servers based on which ones have less-predatory data practices.
Ross Schulman, senior fellow for decentralization at digital rights nonprofit the Electronic Frontier Foundation, notes that if Threads emerges as a massive player in the fediverse, there could be concerns about what he calls social graph slurping." Meta will know who all of its users interact with and follow within Threads, and it will also be able to see who its users follow in the broader fediverse. And if Threads builds up anywhere near the reach of other Meta platforms, just this little slice of life would give the company a fairly expansive view of interactions beyond its borders.
I am perhaps equal parts excited and apprehensive to see how things play out with Threads, but it is really underlining the beauty of the fediverse that you have every option and the opportunity to choose, Schulman says. If you like Meta and you want to be in there, great. Go join Threads, youll be happy there, and youll also have access to everything else. If you dont want to be a part of Meta, but youve got friends or family that do or public figures or whatever, then fine. You can get an account on any number of other fediverse servers and then follow the people that you want. Or if you want nothing to do at all with Meta, then there are plenty of servers out there [that] have already announced that they're preemptively blocking Threads. So you can live that life, too.
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Don't Join ThreadsMake Instagram's 'Twitter Killer' Join You | WIRED - WIRED
IntoTheVerse Web3 and Education: Transforming Learning … – Medium
Education is the most powerful weapon which you can use to change the world. (Nelson Mandela)
Web3 technologies will revolutionize many industries worldwide, but perhaps the most significant change will occur in Education. Decentralization has the potential to innovate and radicalize traditional learning models. Blockchains transparent nature will empower both educators and students by creating a more inclusive learning environment and giving them greater access to knowledge than ever before.
At IntoTheVerse, we wanted to study how Web3 can transform learning and reform the education system.
Decentralization gives individuals direct control over their data because it removes the need for a central authority by distributing the power across a network of participants or nodes. They can then participate in decision-making processes and engage in peer-to-peer interactions that eliminate monopolization of the system and creates user autonomy by developing a transparent, trustworthy, and democratic infrastructure.
Disparities in education systems, resources, and funding worldwide create inconsistency and inequality for students, especially in developing regions and marginalized communities, where learners may not receive the same in-depth teaching, opportunities, and access to education.
The rising costs of tuition fees and learning materials also create a barrier to learning and limit access to higher education and long-term career progression opportunities.
In the last 30 years, there have been huge technological advancements, which have resulted in many educational systems struggling to keep up-to-date with technology, creating a deficit in learning. This can impact students long-term, leaving them unprepared to join the workforce. Further issues can also arise because students may only have limited skills due to their education system focusing on academic achievement rather than practical implementation.
Shortages of qualified teachers and reliance on memorization and spoon-feeding information for exam success, rather than cultivating critical thinking, problem-solving, and creativity, can result in students receiving an inadequate or incomplete education, impacting their future and potential life-long learning.
Many education systems also focus only on national or regional issues in their established curriculum. Standardized education goals should promote greater global awareness.
Decentralization is important in education because it moves the authority away from archaic government or educational bodies and places control in the hands of educators, students, and their communities. The main reasons why this has the potential to reshape education is:
Decentralization puts individuals at the heart of the decision-making process. By giving educators and students the responsibility to design and manage the curriculum, assessment methods, and educational policies, Web3 technologies can improve student engagement and learning and create new innovative ways for them to access high-quality education.
It also encourages educators to be more creative, refine and improve their teaching pedagogies, and monitor and carry out reflective practices in their teaching through the transparent nature of blockchain.
All learners have a diverse range of needs and should be able to enjoy an individual learning process that is catered to their unique personality and learning style. Decentralization enables educators to customize resources to reflect cultural preferences, ability levels, and different VARK learning models. This focuses on 4 strands that contain visual, kinaesthetic, aural, social, solitary, verbal, and logical components.
Decentralization also has the potential to create a set standardized worldwide education system that provides high-quality learning that is accessible to all.
Like all industries, education is besieged with too much paperwork to show accountability. Decentralization will make every action transparent and accountable on the blockchain while freeing up time for educators to spend inspiring their students.
By giving local communities and parents the authority to make decisions in the education system, decentralization can encourage greater accountability to ensure educational goals are achieved.
As Web3 continues to evolve, the same limitations are hindering its assimilation on a global scale. These limitations will also affect the use of Web3 in Education. These are:
Web3 must ensure documentation on how to use blockchain, decentralized applications (dApps), and smart contracts are simple to understand and implement. Lack of knowledge and accessibility may mean many educational systems may never adopt Web3.
Scalability is also an issue, with educational institutions catering to numerous students, educators, and administrators.
There is also a worldwide issue between those who have access to technology and those who dont in education. Adopting Web3 could exacerbate this divide if measures are not implemented to tackle this issue.
Even integrating Web3 technology into an existing educational system would be time-consuming and complex as there may be inequality issues, as well as interoperability issues, and even resistance to change from educators.
Web3 will revolutionize how we live, work and interact with each other in the future. It can also be used to transform the education industry in the following ways:
Web3 has the potential to create new ways of learning through decentralization by enabling learners to connect and collaborate with peers from all over the world. Using smart contracts in education will also increase trust and accountability in peer-to-peer collaborations by giving credit for contributions from learners and ensuring they are recognized and rewarded.
Web3 has the capability to create new learning management systems that place each individual learner in control of their progress and personalization of their learning experiences by eliminating a central authority. This creates a more independent way of learning.
Decentralization in Web3 also encourages the creation and sharing of educational resources and lessons. By having everything on blockchain, students can adapt their routines to suit their lifestyles, backgrounds, and preferences while benefiting from the same high-quality educational materials.
Web3 can also use smart contracts to create certified credentials for degree qualifications. Storing them in the blockchain will confirm their authenticity, which will also open students up to more opportunities.
Tokenization can also be used to engage students in their learning by offering cryptocurrency rewards for educational achievements and promoting Web3 incentives that line up jobs for dedicated learners.
Tokenization can also be used to promote greater engagement in practical incentives so students gain real-world experiences and skills, alongside cryptocurrency rewards, that will prepare them for the workforce.
In conclusion, the emergence of Web3 and the decentralized nature of blockchain can shift the status quo in education by prioritizing inclusivity, accessibility, and equality. Web3 will also increase innovation, encourage greater engagement with knowledge and promote a love of lifelong learning. By empowering students, educators, and communities with a learner-centric approach, we can build an interconnected education system globally that champions independence and celebrates each individuals unique set of talents and skills.
Stay tuned for more tech articles from IntoTheVerse.
IntoTheVerse is building a mobile-first, composable, NFT-Utility & Impact driven gaming Metaverse.Follow us on Twitter, and LinkedIn, Instagram, Medium, and join the Discord community to stay up-to-date on news and events.
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IntoTheVerse Web3 and Education: Transforming Learning ... - Medium
Protecting edge data in the era of decentralization – CXOToday.com
Cyberattacks can exacerbate existing security issues and expose new gaps atthe edge, presenting a series of challenges for IT and security staff. Infrastructure must withstand the vulnerabilities that come with the massive proliferation of devices generating, capturing and consuming data outside the traditional data center. The need for a holistic cyber resiliency strategy has never been greater not only for protecting data at the edge, but for consolidating protection from all endpoints of a business to centralized datacenters and public clouds.
But before we get into the benefits of a holistic framework for cyber resiliency, it may help to get a better understanding of whythe edgeis often susceptible to cyberattacks, and how adhering to some tried-and-true security best practices can help tighten up edge defenses.
The impact of human error
Human error can be the difference between an unsuccessful attack and one that causes application downtime, data loss or financial loss. More than half of new enterprise IT infrastructure will be at the edge by 2023, according toIDC.
With so much data coming and going from the endpoints of an organization, the role humans play in ensuring its safety is magnified.
Perhaps the biggest challenge is thatedge environmentsare typically not staffed with IT administrators, so there is lack of oversight to both the systems deployed at the edge as well as the people who use them.
While capitalizing on data created at the edge is critical for growth in todays digital economy, how can we overcome the challenge of securing an expanding attack surface with cyber threats becoming more sophisticated and invasive than ever?
A multi-layered approach
It may feel like there are no simple answers, but organizations may start by addressing three fundamental key elements for security and data protection: Confidentiality, Integrity and Availability (CIA).
In addition to adopting CIA principles, organizations should consider applying a multi-layered approach for protecting and securing infrastructure and data at the edge. This typically falls into three categories: the physical layer, the operational layer and the application layer.
Physical layer
At the edge, servers and other IT infrastructure are likely to be housed beside an assembly line, in the stockroom of a retail store, or even in the base of a streetlight. This makes data on the edge much more vulnerable, calling for hardened solutions to help ensure the physical security of edge application infrastructure.
Best practices to consider for physical security at the edge include:
Operational layer
Edge environments tend to lag in specific security software and necessary updates, including data protection. The vast number of devices being deployed and lack of visibility into the devices makes it difficult to secure endpoints vs. a centralized data center.
Best practices to consider for securingIT infrastructureat the edge include:
Application layer
Once you get to the application layer, data protection looks a lot like traditional data center security. However, the high amount of data transfer combined with the large number of endpoints inherent in edge computing opens points of attack as data travels between the edge, the core data center and to the cloud and back.
Best practices to consider for application security at the edge include:
Recovering from the inevitable
While CIA and taking a layered approach to edge protection can greatly mitigate risk, successful cyberattacks are inevitable. Organizations need assurance that they can quickly recover data and systems after a cyberattack. Recovery is a critical step in resuming normal business operations.
By vaulting data on the edge to a regional data center or to the cloud through an automated, air-gapped solution, organizations can ensure its immutability for data trust. Once in the vault, it can be analyzed for proactive detection of any cyber risk for protected data. Avoiding data loss and minimizing costly downtime with analytics and remediation tools in the vault can help ensure data integrity and accelerate recovery.
Backup-as-a-service
Organizations can address edge data protection and cybersecurity challenges head-on by deploying and managing holistic modern data protection solutions on-premises, at the edge and in the cloud or by leveraging Backup as-a-Service (BaaS) solutions. Through BaaS, businesses large and small can leverage the flexibility and economies of scale of cloud-based backup and long-term retention to protect critical data at the edge which can be especially important in remote work scenarios.
As part of a larger zero trust or other security strategy, organizations should consider a holistic approach that includes cyber security standards, guidelines, people, business processes and technology solutions and services to achieve cyber resilience.
The threat of cyberattacks and the importance of maintaining the confidentiality, integrity and availability of data require an innovative resiliency strategy to protect vital data and systems whether at the edge, core or across multi-cloud.
(The author is Ripu Bajwa, Director and General Manager, Data Protection Solutions, Dell Technologies India, and the views expressed in this article are his own)
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Protecting edge data in the era of decentralization - CXOToday.com
Binance CEO dismisses concerns that institutional crypto ETFs threaten decentralization – CryptoSlate
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Why Threads Got 100 Million Users When Other Twitter Rivals Could Not – CoinDesk
Twitter has been ripe for disruption for years now. People love to complain about it or leave in protest of how terrible its become. There have been many opportunities for Twitter to be challenged by a decentralized social network that truly empowers users. And there have been quite a few attempts. But none have come close to rivaling Twitter.
Now, thanks to widespread frustration with the excessive power of Elon Musk, a Twitter rival has landed. And no, its not the brainchild of some crypto-native start-up. It comes via Meta, another company ruled by an excessively powerful billionaire. That didnt stop Threads from hitting 100 million users in less than a week.
Emily Parker is CoinDesk's executive director of global content.
Theres a lesson here, if a painfully obvious one. When it comes to social media, or at least social media at scale, people ultimately care about network effects and ease of use. Thats pretty much it. Yes, it would be nice to have data privacy, higher quality conversations, protection of free speech (whatever that means exactly) and maybe greater ownership over your content. But those concerns have yet to prevail.
Before going any further, lets be clear: Threads will not necessarily be a huge success. Sometimes platforms arrive with a bang only to fade into cultural irrelevance remember Clubhouse? But again: Threads got 100 million users in five days, and that number could still grow. Rival upstarts simply have not gained that kind of traction. Mastodon claims to have around 2 million monthly active users. Its hard to get exact numbers for the decentralized social media protocol Nostr, but an estimate based on Damus and Amethyst downloads is likely around 500,000 to 1 million, according to Damus. The invite-only Bluesky had some 50,000 users at the end of April, and since then got at least 58,000 new sign ups. These numbers arent bad, but these are the relatively successful rivals, not the ones you havent even heard about.
Threads early boom basically comes down to Threads integration with Instagram, which has over 2 billion monthly active users. In other words, people are already there. People have been saying for years that they yearn for smaller, more intimate platforms, but are often addicted to the potential of virality. I have some personal experience with this, as part of a team that tried to build one of those smaller, more intimate platforms. While the resulting product was far from perfect, I also saw firsthand how hard it is for a new player to compete with the sheer numbers of Twitter and Facebook.
Threads has another key feature: If you are already an Instagram user, then onboarding is easy. You dont need to establish a whole new identity, and the people you follow can be transferred from one platform to the next.
Threads early success has lessons not only for social media start-ups, but also for crypto as it pursues the often elusive goal of mainstream adoption. Because money, like social media, only really works if enough people use it.
So here are a few key lessons:
Sometimes you might have to play ball with bigger players, at least initially. In other words, go where people are. Thats why people get so excited about institutional adoption or the possibility of a Bitcoin ETF. Giving people a gateway to crypto through known, trusted brands with established customer bases can make sense at this point in time. Thats likely why Polygon struck a deal with Instagram itself, to give just one example. This is not a solution for every project, and can indeed take some of the fun and uniqueness out of crypto, but there is clearly a logic behind such strategic alliances.
Onboarding and ease of use matters. A lot. This seems almost too obvious to write but given that so many crypto products remain confusing and hard to use, it bears repeating. You can have a visionary product with a roadmap to remake society, but that may not matter if the user experience is terrible or people have to jump through hoops to create on account. It also means that, for better or worse, we probably need centralized crypto exchanges and governments (see: United States) to establish clearer regulatory frameworks for them. Yes, these exchanges might be less secure or philosophically pure than decentralized finance, but they probably offer a more familiar gateway for the more mainstream set.
People care about data privacy and decentralization, but not that much. Mark Zuckerberg has an almost comically bad reputation when it comes to protecting user data. But at least 100 million people are clearly ready to move past it. Some are raising questions about Threads privacy policy but a lot of people probably didnt even bother to read it. And sure, many apparently disliked the idea of a centralized social media platform being subject to the whims of a billionaire, but they were able to move past that as well.
This is not to say that data privacy isnt critically important. Of course it is. Decentralization has its appeal as well. But these lofty goals are simply not enough. Without network effects or ease of use, they wont catapult a product into the mainstream. That is the main lesson from Threads spectacular five days.
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Why Threads Got 100 Million Users When Other Twitter Rivals Could Not - CoinDesk
dYdX moves close to decentralization with its V4 testnet launch … – Cryptopolitan
Description
Decentralized crypto exchange dYdX has announced the launch of the public testnet for its V4 iteration, marking the completion of a significant milestone in its development roadmap. The release of V4 on the mainnet is expected to bring about full decentralization of the exchange. dYdX announces public testnet for its V4 iteration The platform operates Read more
Decentralized crypto exchange dYdX has announced the launch of the public testnet for its V4 iteration, marking the completion of a significant milestone in its development roadmap. The release of V4 on the mainnet is expected to bring about full decentralization of the exchange.
The platform operates on the Ethereum and StarkEx networks, distinguishing itself as a decentralized exchange (DEX) since it does not hold custody of users funds. However, it differs from automated market-maker DEXs like Uniswap, which rely on on-chain pricing algorithms to match buyers and sellers. dYdX currently features a centralized order book and matching engine that enables market makers to place limit orders.
With the introduction of Version 4, it aims to eliminate its centralized order book and matching engine, achieving complete decentralization without relying on automated market-makers. The protocol intends to accomplish this by running certain components of the application on a separate the network with its validators, allowing the order book to be stored on-chain.
The recent announcement reveals that users can now request testnet funds to explore the dYdX app. This allows users to engage in virtual trades, track profit, and loss, and perform other essential functions of the exchange. Although the capability to test bridging from one network to another is not yet available, it is expected to be implemented during the public testnet phase.
Upon the completion of the testnet phase, the dYdX protocol team will proceed to implement the fifth and final milestone on their roadmap. This milestone involves the integration of stablecoins into dYdX and the addition of support for Cosmos Inter-Blockchain Communication (IBC), which will grant Cosmos users access to the app. The launch of V4 is anticipated to follow the successful completion of this final milestone.
Earlier this year, the platform made headlines when it announced the winding down of its services in Canada due to regulatory challenges. In September 2022, the exchange faced criticism from privacy advocates after offering a $25 bonus to new users who could prove they were not bots. However, the promotion was later abandoned.
As dYdX progresses towards its goal of achieving full decentralization with the V4 release, the exchange aims to offer users a truly decentralized trading experience while maintaining a high level of efficiency and security. By leveraging its unique network architecture and innovative approach, dYdX strives to establish itself as a prominent player in the evolving landscape of decentralized exchanges.
As the crypto industry continues to evolve, the success of projects like dYdXs V4 iteration will contribute to the broader adoption of decentralized finance (DeFi) and showcase the potential of blockchain technology to revolutionize traditional financial systems. With each milestone achieved, dYdX brings the vision of a decentralized and inclusive financial ecosystem one step closer to reality.
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dYdX moves close to decentralization with its V4 testnet launch ... - Cryptopolitan
MIA with support from UNDP trains County Councils to boost Fiscal … – The New Dawn Liberia
Monrovia, Liberia; July 4, 2023: The Ministry of Internal Affairs (MIA) under the Liberia Decentralization Support Project (LDSP) supported by UNDP and its Partners- embassies of Sweden and Ireland, has conducted a series of orientation workshops for County Councils recently elected across the 15 counties of Liberia.
The exercises held in Nimba and Grand Bassa Counties in June 2023, brought together over one hundred and thirty-five members of the County Councils, County Superintendents, and other local officials with the aim to explain the roles and responsibilities of County Council members as they prepare to administer their duties in close coordination and collaboration with the various local leaderships in the 15 political subdivisions of the country.
Speaking during the training, the Minister of Internal Affairs Varney Sirleaf stressed the need for council members to exercise confidentiality in the discharge of their responsibilities emphasizing the importance of coordination between local authorities and county council members to avoid confrontations which normally undermine development. It was important that the Superintendents attended the workshop along with the County Councils because both parties are integral in the functioning of local government administration, said Minister Sirleaf.
He stressed that capacity building was essential in the effective operationalization of the County Councils and assured that the Ministry will work with partners to secure training opportunities for council members. County Councils have now joined the list of local government administration due to the important and critical roles they must play in the decentralization reform process of bringing services closer to the people, Minister Sirleaf added.
The Internal Affairs Minister reminded Council members that the establishment of the County Councils was in fulfillment of Chapter 2 of the Local Government Act (LGA) of 2018 which was fully followed by the MIA.
Also making remarks during the workshops, UNDP Liberia Resident Representative a.i. Louis Kuukpen intimated that the effectiveness of the County Council can only be realized with the implementation of the Revenue Sharing Act. He emphasized the need for continuous capacity building for council members which is cardinal in accomplishing their responsibilities as enshrined in the LGA. The UNDP Liberia Resident Representative a.i. mentioned that his agency has allocated resources to support the capacity-building process of County Councils and reaffirmed his institutions commitment to working with Ministries, Agencies, and Commissions (MACs) to achieve the objectives of the decentralization programme. He reminded Council Members of the fact that they are executing their duties under a tenure that prohibits changes or replacement with non-elected members within the specified period of leadership and urged them to take the training and their responsibilities seriously.
I am excited to be part of this training because of the important role and key responsibilities the County Councils must play in actualizing the governments decentralization agenda which is the way to address the core issues of exclusion, social cohesion, and development to include levying local taxes and fines, promulgate County ordinances, budget reviews, and development planning approvals amongst others, Kuukpen added.
He concluded his statement by encouraging participants to be peaceful during the electoral process stating that Liberians are one people. He also emphasized the need for women to be given more space for participation during the elections processes and encouraged all participants to follow instructions from the National Elections Commission (NEC) on the various processes.
At the same time, the Chairman of the Governance Commission Attorney Garrison Yealue, Jr. congratulated County Council members for their preferment and indicated that the concept of establishing that body was deeply rooted around the ideas of promoting inclusive governance, transparency, and accountability at the local level.
Attorney Yealu informed council members that they were placed in a position of trust to promulgate county ordinances, approve county budgets annually, promote peace and reconciliation, and as such, they have a very herculean task that required commitment, honesty, and integrity in the discharge of their duties.
He however emphasized that Council County members are not Legislators because they only represent the interest of their constituents at the county level while legislators represent their respective districts at the national level. The Governance Commission Chairman commended the MIA and UNDP for organizing the programme and stressed the importance of coordination between the County Councils and local government authorities.
The orientation workshops were facilitated by Independent Consultant on democracy, governance, and public policy Dr. Yarsuo Weh-Dorlaie on topics to include historical perspectives of decentralization in Liberia, legal and regulatory framework, structures of county local government, and the relationship between the county council and county administration among others.
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MIA with support from UNDP trains County Councils to boost Fiscal ... - The New Dawn Liberia
The Ethereum Merge Is Complete: Here’s Why That’s Important – The Tech Edvocate
Introduction:
The long-awaited Ethereum Merge has finally taken place, marking a major milestone for the second-largest cryptocurrency by market capitalization. This historic event signifies the transition of Ethereum from a Proof of Work (PoW) consensus mechanism to Proof of Stake (PoS), bringing significant changes to the ecosystem. In this article, well discuss the importance of this shift and its implications for Ethereum and the broader cryptocurrency community.
1. Enhanced Energy Efficiency:
One of the primary goals of The Merge is to significantly reduce Ethereums energy consumption by transitioning from PoW to PoS. This is an essential step in addressing concerns around sustainability and lowering the networks environmental footprint. The PoS-based Ethereum 2.0 consumes approximately 99% less energy than its PoW predecessor, making it a more ecologically responsible choice for both users and investors.
2. Improved Scalability:
The Ethereum network has struggled with scalability issues in recent years due to increasing demand and congestion. Moving to PoS allows for greater network efficiency, ultimately enabling faster transactions and more throughput on the blockchain. Additionally, further enhancements such as sharding are planned after The Merge, which are expected to further boost Ethereums throughput and responsiveness, providing a more seamless experience.
3. Greater Security:
The more decentralized nature of Ethereum under PoS helps ensure that malicious actors cannot easily manipulate or attack the network. With staking replacing mining, smaller players can contribute to the networks security by participating in validator pools without needing large amounts of computing power or resources associated with mining rigs.
4. Strengthening Decentralization:
Decentralization is a core principle of blockchain technology, and The Merge serves as an engine for promoting broader participation within the Ethereum ecosystem. By eliminating high entry barriers associated with mining, PoS allows for a wider range of stakeholders, further reinforcing the decentralized nature of the network and thereby fostering a healthier ecosystem.
5. Incentivizing Long-term Commitment:
The PoS mechanism incentivizes long-term commitment by requiring participants to lock up aportion of their Ether (ETH) holdings as a stake. This requirement encourages long-term thinking and discourages short-term speculation, as validators have a vested interest in the security and success of the network.
Conclusion:
The Ethereum Merge is a critical step in the evolution of the worlds second-largest cryptocurrency. By addressing energy efficiency, scalability, security, decentralization, and incentivizing long-term commitment, Ethereum is poised to become an even more robust platform for decentralized applications, finance, and digital innovation. As these changes continue to take effect, its essential for users and investors to stay abreast of the latest developments within the Ethereum ecosystem to better understand this ever-evolving digital landscape.
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The Ethereum Merge Is Complete: Here's Why That's Important - The Tech Edvocate