@williamjohns

Governance in blockchain refers to the decision-making process that determines the rules, upgrades, and direction of a blockchain network. In decentralized networks, governance is typically distributed across its participants, rather than controlled by a single entity. This can be done through on-chain voting, where token holders or network participants vote on proposals such as protocol changes, network upgrades, or changes to the system’s economic model. Blockchain governance is crucial for ensuring the project remains decentralized, transparent, and aligned with the community's interests. However, governance models vary, and poorly designed governance can lead to disputes, centralization, or even “forks” in the network.

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