Decentralization and governance go hand in hand. Since Bitcoin’s inception, crypto maximalists have embraced core components of decentralization, and while ‘governance’ isn’t called.
Arbitrum governance took center stage over the weekend, before its self-titled foundation backed down from the controversial AIP-1 proposal and its “ratification” vote.
Following a noisy uprising by holders of its ARB token, the Arbitrum Foundation said late Sunday that it will split a contentious governance.
After receiving pushback from members of the Ethereum community on its proposed governance vote method, Ethereum layer 2 solutions vendor Arbitrum has reversed.