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Governance

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Table of contents
    1. 0.2. Key Components of Blockchain Governance
    2. 0.4. Types of Blockchain Governance

Governance in the blockchain context refers to the decision-making process that determines how a blockchain network operates, including protocol upgrades, rule enforcement, and dispute resolution.

Key Components of Blockchain Governance

Blockchain governance involves the participation of stakeholders, including developers, miners, validators, and token holders, in voting on proposed changes or updates to the network. It can be on-chain (automated and transparent) or off-chain (more centralized).

Types of Blockchain Governance

  1. On-Chain Governance: Users directly vote on changes, usually via tokens, in a decentralized manner.
  2. Off-Chain Governance: Decisions are made by a small group of developers or a central authority.