What is governance in blockchain?
An example of an AI chatbot conversation about governance in blockchain technology.
What is governance in blockchain?
Governance in blockchain refers to the frameworks and processes that determine how decisions are made within a blockchain network.
Why is governance important in blockchain?
Governance is crucial because it ensures transparency, accountability, and the ability to adapt to changes in the ecosystem.
Can you give examples of governance models in blockchain?
Sure! Examples include on-chain governance, off-chain governance, and decentralized autonomous organizations (DAOs).
How do DAOs function in terms of governance?
DAOs operate through smart contracts, allowing members to vote on proposals and manage resources collectively.
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