Governing Decentralization: How On-Chain Voting Protocols Operate and Vary

Since Bitcoin’s introduction in 2009, there have been several attempts to include a decision-making process as part of the rules of a blockchain. This is called on-chain governance, a formalized way in which a group of people can make changes by voting through the protocol.

The purpose behind it is to provide a clear-cut path to consensus. What are some examples of people using on-chain governance? It can include — but is not limited to — the following three topics:

• Changes in the existing protocol and parameters of a blockchain.
• Retroactively make changes to the state of the blockchain.
• Distribution of subsidies when relevant.

Changes in the existing protocol and parameters of a blockchain.
Retroactively make changes to the state of the blockchain.
Distribution of subsidies when relevant.

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Author: Cointelegraph
Original link: https://cointelegraph.com/news/governing-decentralization-how-on-chain-voting-protocols-operate-and-vary