“without bothering to understand how this works I will assume it doesn’t.”
> And yeah "there's no one controlling this" except, you know, the people who program the protocol.
Which can be anybody as there is no single group of developers - it is governed by social consensus, and if enough users want to change the protocol they can do so with EIPs or a fork.
> Bitcoin is the popular cryptocurrency.
By price - not usage or fee expenditure, aka block space demand.
> And yeah "there's no one controlling this" except, you know, the people who program the protocol.
Which can be anybody as there is no single group of developers - it is governed by social consensus, and if enough users want to change the protocol they can do so with EIPs or a fork.
> Bitcoin is the popular cryptocurrency.
By price - not usage or fee expenditure, aka block space demand.