Depends. In general, in a consensus-based system like Bitcoin, there is a set of rules that everyone keeps track of. Breaking these rules is rejection of a person from the network (creates its own network). There are all sorts of different methods of democation in the network - but direct.
Is a consensus not a democracy of voting?
Depends. In general, in a consensus-based system like Bitcoin, there is a set of rules that everyone keeps track of. Breaking these rules is rejection of a person from the network (creates its own network). There are all sorts of different methods of democation in the network - but direct.
Sounds like a republic.
Maybe. But it short, it isn't XVIII century solution, it's XXI century solution. Trustless, decentralized consensus-rule technology
I like it.