These mechanisms do address some of the issues previously discussed, but they also have limitations:
Strengths:
Community governance: These mechanisms allow for democratic decision-making, which can be more responsive to user needs than traditional regulatory structures.
Adaptability: The ability to propose and vote on changes allows the system to evolve and address new challenges as they arise.
Content moderation: Downvoting and community-specific rules provide some ability to manage harmful content without centralized censorship.
Spam prevention: Resource credits help maintain network quality without centralized control.
Incentive alignment: Systems like witnesses and the DHF align stakeholder interests with network health.
Limitations:
- Limited scope: These mechanisms primarily address internal governance and don't fully solve issues related to external regulation or illegal activities.