Governance

In regards to the blockchain governance it is with regard to how certain processes are managed, the decision making process, and how modifications to the protocol are managed in the network. Of course, this can occur in a couple of ways. Sometimes, it is on-chain governance, in which those who own tokens have an opportunity to vote directly on the propositions. Again, other times, it is very off-chain and many discussions are had within the community, or even the development team. The philosophy of good governance is important because it assists projects in changing, resolving problems, and remaining democratic–all while things do not start to disintegrate. 

 This is different in the sense that other projects perform governance in a manner that is uniquely their own. Some could utilize something like a decentralized autonomous organization (DAO) that entails each token owner having a decision-making say over the changes. Some might be more of a ‘closed’ model, where at least 80 percent of core decisions were made by a command center. The issue is to find a balance which will make things just enough fair so that none of the members is fully dissatisfied, and the project can continue without too many complications.

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