April 22, 2025
Blockchain

Polkadot modernizes its management structure

  • June 29, 2022
  • 0

The Polkadot team will change the governance structure to increase the decentralization and efficiency of the decision making system. This was reported to ForkLog by project representatives. The

Polkadot modernizes its management structure

Polkadot modernizes its management structure
Polkadot modernizes its management structure

The Polkadot team will change the governance structure to increase the decentralization and efficiency of the decision making system. This was reported to ForkLog by project representatives.

The new Gov2 model is designed to address the shortcomings found in the current governance model. These included: the centralized structure 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 “take weeks”.

Gov2 needs to unblock it from making an offer. Any user can do this an unlimited number of times. The applicant will determine the exclusivity level of the offer, which affects the scope of the guarantees, the approval threshold and the review period.

Depending on the class of the referendum, a different level of support will be established for approval. The default time for this phase is 28 days.

Next comes the voting phase, where for security reasons an intervention procedure is provided – Cancellation. This makes it possible, for example, to interrupt any ongoing referendum, regardless of the situation, if a critical issue is identified in the proposal. Cancellation also goes through the voting procedure, only in accelerated mode.

To improve the vote delegation model in Gov2, the developers left the Council. It will be replaced by the Multi-Purpose Delegation feature, which allows the user to designate different delegates for different classes of referendums or maintain direct control over decisions.

The Technical Committee will replace the Polkadot Fellowship as an expert body for the security and implementation of accepted proposals. It will provide a wider membership with a much lower barrier to entry than the previous structure. It is this body that decides to intervene in the referendum. The scholarship can also increase the privilege level of the offer.

Developers will first launch Gov2 on the Kusama testnet. “Will be soon. After testing, the community will be asked to vote for the activation of the new governance structure in the Polkadot network.

Recall that the ninth Polkadot parachain auction, the winning HydraDX project, ended in February.

In May, the developers introduced the XCM cross-chain solution, which enables communication between various parallel blockchains in the ecosystem.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

Leave a Reply

Your email address will not be published. Required fields are marked *