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In Support of CHIPs

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Avatar for GeneralProtocols
Written by   262
1 week ago

Something great is happening in the Bitcoin Cash (BCH) network. You may have noticed some documents called CHIPs popping up. While "CHIP" is a play on the old Bitcoin Improvement Proposal (BIP) name, look inside them, look around them, and you will find something new. You will see a whole network of people learning to make decisions together without a de facto dictator, without coercive institutions, without a center of power. Miners make the final call on how the network works, but we have learned that miners, along with everyone else, want things to stay smooth and predictable so that polarization does not happen along the way. The network is spenders, holders, miners, pools, merchants, financial services, marketers, developers, community builders and more - we have a lot left to learn, but we have found our footing and are ready to continue on the road to permissionless electronic cash for the world.

The Narrow Path to Success

GP sees CHIPs as the embodiment of a process that we can use to walk a narrow path to success, with death by failure to scale and adapt on one side, and death by polarization and splits on the other.

Ownership

GP thinks that it is an important part of the process for stakeholders in the network to create and take ownership of CHIPs. Ownership means driving the proposal in a constructive way that favors fact finding and analysis over emotion and polarization. The CHIP owners we have seen so far are setting a great example. And remember, if you ever have a significant difference on the direction of a CHIP, you can just publish your own version.

Engagement

It is unreasonable to expect everyone to engage with CHIPs, but it is reasonable to expect engagement from those who depend heavily on the BCH network and those who have high expectations for it. CHIPs, or a related discussion forum, provide an excellent place for public engagement to happen. GP commits to doing due diligence, making constructive statements and providing reasonable resources to relevant CHIPs. GP encourages other stakeholders to do the same.

Process

No process is perfect, but having a reasonable one that the ecosystem agrees on is infinitely better than the alternatives. GP commits to following a reasonable process that emerges from the current exploration.

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Avatar for GeneralProtocols
Written by   262
1 week ago
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