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A Summary of

Token curated registry design flaws

by
Slava Balasanov
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Token Curated-Registries (TCRs) are supposed to help create decentralized, crowdsourced lists. Criteria for inclusion includes subjective & objective questions with answers based on crypto-economics alone. However, some suspect that TCR designs are insufficient to answer subjective questions reliably.

Why Subjective TCRs Don't Work

3 criteria for a successful TCR: 1. An objective answer exists 2. It is publicly observable 3. It is very cheap to observe it

The Power of Context

To create a stronger coordination signal around a subjective question, a well-defined context is needed: who curates information & why are they doing it? With token-based voting, the context will always be contaminated by the context of wealth.

TCRs + Social Reputation

A system can have a well-defined context by adding a social reputation system. Here are some of the benefits, compared to vanilla TCRs: - Context helps create coordination signal - Community of curators hold certain values in common - Deep community engagement is incentivized - Reputation scores are more likely to be evenly distributed than wealth - TCRs are easier to bootstrap - Reputation systems could help with voting rings Reputation systems will not solve all of blockchain's challenges, but they are an essential feature of digital platforms.

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