As the cryptocurrency bear market continues, EOS’s USD price is hovering around $6.65. The market’s display of trust (or lack thereof) in the existing models makes one think whether any of them are heading in the right direction as far as decentralized governance and finance are concerned.
Nick Szabo and Dan Larimer represent two different forces and schools of thought on governance. Szabo’s model seems to focus a lot more on trustlessness and seeks true decentralilzation through a self-run and self-governed AI, whereas Larimer’s EOS incorporates constitutional governance (that can resemble the founding of the USA, which evidently can go corrupt as the founders of the nation themselves anticipated and warned against).
Szabo does however favor Ethereum despite the fact that some believe it’s not truly decentralized because of the Ethereum hard-fork which took place after a consensus following the DAO hack.
In light of these observations, Bitcoin continues to shine as the one and only truly decentralized blockchain to date.
Perhaps with the further development and widespread deployment of the Lightning Network and second-layer dApps, Bitcoin can render all the other pseudo-blockchains useless.
One metric that supports this hypothesis is Bitcoin Dominance, which continues to climb the highest levels in 10 weeks. I would not be surprised if Bitcoin dominance continues to return to the 2017 levels and beyond.