Blockchain Project Polkadot Updates its Governance Structure
The team behind the Polkadot ecosystem plans to change the governance structure to increase the decentralization and throughput of the decision-making system.
According to the project developers, the new Gov2 model is designed to address the shortcomings inherent in the current governance model, including the centralized nature of bodies such as the Council and the Technical Committee, and the possibility of holding a single referendum on a proposal at the same time. At the same time, voting can “last for weeks.”
Gov2 will lower the barrier to making a proposal. Any user can do this an unlimited number of times. The applicant will determine the privilege level of the proposal, which affects the scope of the guarantees, the approval threshold and the review period.
A different level of support for approval will be established depending on the class of the referendum. The default time period for this stage is 28 days.
