Does Gavin Wood's statement imply clues about the evolution of the cross-chain world in 2024?

Author: Vanguard 0

The market on December 24 showed a general rise in Polkadot ecosystem tokens. Among them, the price of MOVR soared to $39.41, with a 24-hour increase of 171.81%; ACA rose to $0.1566, an increase of 87.96%; KSM also performed well, rising to $49.95, an increase of 42.77%; GLMR also showed impressive performance, reaching a price of $0.5942, up by 35.04%. This wave of token increases has attracted widespread attention in the market.

Prior to this, Polkadot founder Gavin Wood had a deep interview in November. This exclusive interview covered many key pieces of information, and the following will showcase the content of this interview.

Gavin Wood's Legendary Journey: The Backbone of Ethereum and the Soul Founder of Polkadot Ecosystem

Gavin Wood's story is like a profound history of technological evolution. As a core founder of Polkadot and a co-founder of Ethereum, Gavin holds dual PhDs in Computer Science and Music Visualization from the University of York, showcasing his blend of academia and innovation. At the 2018 Web3 Summit, he demonstrated his technical prowess in quickly building a blockchain in just 15 minutes.

His blockchain journey began in 2011 with curiosity about Bitcoin, which turned into in-depth research in 2013. Gavin's technical interests are not limited to programming; they also encompass game theory, social sciences, and political science. These interests drove him to join Ethereum, where he met Vitalik Buterin and together propelled the project forward. His role in Ethereum was crucial, introducing the concepts of EVM and smart contracts, which had a profound impact on the entire industry.

However, as Ethereum began to show results, Gavin chose to leave and establish Polkadot. The reasons for his departure are varied, but there is no definitive conclusion.

After creating Ethereum, Gavin brought forth a new architecture for EVM and smart contracts. Although this technology is six or seven years old, it is still adopted by many blockchains. However, Gavin realized that mere improvements to the existing architecture would not achieve revolutionary innovation. Therefore, a year after leaving Ethereum, he published the Polkadot white paper in 2016, marking his new exploration of blockchain technology. Polkadot not only addresses scalability issues but also enables communication between blockchains, known as cross-chain technology. The core of Polkadot lies in sharding technology, which is essentially the efficient collaboration of multiple independent blockchains.

Offering Insights on Blockchain Governance and Community Allocation of Crypto Assets, Gavin Wood's Remarks Are Worth Noting

In Gavin Wood's interview, he explored the deep meanings of blockchain governance, treasury fund usage, and democratic systems from a profound perspective.

First, he discussed the core goals of governance. Gavin believes that governance should not only pursue inclusivity but also focus on the benefits to individuals. He emphasized that a healthy governance system should balance these two aspects to ensure fairness and efficiency within the system.

Regarding the use of treasury funds, Gavin expressed his clear viewpoint. He believes that treasury funds should not be accumulated indefinitely but should be actively utilized. He provided examples, stating that treasury funds could be used to purchase other tokens, invest in centralized exchanges, or even provide loans to teams, rather than falling into a conservative trap. He particularly emphasized that the less treasury funds are used, the greater the negative impact on the system.

Gavin also presented an interesting viewpoint that democracy should not be limited to voting systems. He believes that the degree of democracy in a system is not solely determined by voting mechanisms but should also consider the influence of each individual on the system. He advocates for a broader understanding of democracy, emphasizing that each member's influence on the system should be roughly equal.

When discussing the use of treasury funds, Gavin mentioned a tendency within the community to compare treasury funds with venture capital (VC) and pointed out that such comparisons are unreasonable. He believes that the distribution of treasury funds lacks sufficient legal protection and constraints compared to VC, making it prone to misuse or allocation to projects that do not align with the original purpose. Therefore, he suggested establishing more effective funding deployment mechanisms and governance structures, such as setting up multiple Fellowships and sovereign wealth funds.

Additionally, Gavin talked about progress in the Fellowship area, particularly its efforts as a decentralized entity to acquire non-native tokens from the platform. He believes this will help manage volatility and promote system stability.

He emphasized the importance of rule-based systems in reducing global injustices. He believes that as these systems become more complex, they will become a key part of civilization, and thus the drive to design well-structured rule-based systems is the source of his passion.

Gavin Wood's insights from this interview not only showcase his profound understanding of blockchain governance and democratic ideals but also reflect his vision for the future development of Polkadot. The principles he emphasized regarding inclusive governance, the rational use of treasury funds, and a broader understanding of democracy are all important guiding principles for the Polkadot ecosystem. These ideas occupy a central position in the design and development of Polkadot, influencing all aspects of its structure, functionality, and community development, demonstrating Polkadot's innovation and leadership in blockchain technology and governance models.

The Development of Polkadot Partly Depends on Gavin Wood's Personal Decisions, and Future Performance Is Worth Following

At the end of the interview, Gavin Wood shared his vision for the future world in a gentle and thoughtful manner. He hopes to leave behind a peaceful and just world for future generations.

Gavin believes that the transparency of blockchain technology rules is key to reducing injustices. By designing well-structured rule systems, wealth and power can be effectively governed, limiting the abuse of arbitrary power. Therefore, he invests great enthusiasm in designing better system rules. His reflections not only reflect his sense of responsibility as a technological innovator but also show his care and expectations for future generations as a father.

Through various pieces of information, we can see Gavin Wood's unique insights on governance and other concepts, as well as glimpse how he influences Polkadot. For Polkadot, we will look forward to its upcoming developments with greater anticipation.