Polkadot chief Gavin Wood announces the upcoming blockchain governance upgrade!

I have been reading articles about polkadot for the past month and Found this article. Polkadot has upgraded its decision-making process to be more inclusive and decentralized, The new version includes various tweaks to streamline governance processes so that many decisions can be made simultaneously and anyone is able to start a referendum at any time, and they can do this as many times as they wish since there are no explicit limits on the number of referenda which are open to vote on at any time.
Polkadot’s Governance version 2 (Gov2) will remove any preferential “first-class citizens” in terms of governance, and is set to launch on Kusama imminently, following a final professional audit of its code. Once Gov2 is tested on Kusama, a proposal will be made for the Polkadot network to vote on.
Let me know what you guys think about this article!

Polkadot chief Gavin Wood announces the upcoming blockchain governance upgrade!

7 thoughts on “Polkadot chief Gavin Wood announces the upcoming blockchain governance upgrade!”

  1. This means that some decisions about the future of the network will belong to the community.

  2. Polkadot pros & cons and related info are in the collapsed comments below. Pros and cons will change for every new post.

  3. I believe that the increase of the new chains actually reduces DOT supply, If the crowdloan’s rewards are good enough so the machine will keep going on and on with new parachains joining and a controllable supply-demand environment. Is that right?

  4. Over time, this will cause the price of dot tokens to decline, which lowers the return on investment for the nominators who pay for these parachain spaces. I miss seeing the long-term financial gain for dot buyers.

  5. Honestly polkadot is going to be fucking huge. Along with this: https://kusama.network/parachains/

  6. IMO, There are a lot of competitors out there that are very good at creating web3 ecosystem and I think dot is doing pretty good but needs to balance the developers and the end users side.

Leave a Comment