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LeoGlossary: Decentralized Governance
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The process through which a platform's disintermediated, equitable management is carried out for blockchain networks and dApps.
This entail voting about platform:
- technology
- upgrades
- strategy
- regulation
Governance can happen both on-chain and off-chain. The former uses the blockchain and applies to the native coins. This will impact the decisions made regarding the direction of the blockchain.
Off chain governance will often apply to Layer 2 applications. These project, and their associated tokens, are by definition off chain.
It is possible for governance voting for a blockchain to occur off chain although some might question the validity of such as approach.
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