Top Governance tokens by market capitalization
Governance contains 28 coins with a total market capitalization of $17.06B and an average price change of +3.37%. They are listed in size by market capitalization.
When it comes to the direction or decisions taken by a protocol, governance tokens play a crucial role. These tokens are created by the team or even the community members of a protocol, and can be used to propose new features or even change the terms of governance itself. Once a proposal is created, it will be discussed and fleshed out before token holders are given the opportunity to vote on the decision. The weight of your vote is determined based on the number of governance tokens you hold.
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FAQ
What is governance in crypto?
When it comes to cryptocurrencies, governance refers to the individuals or entities who hold the authority to make important decisions about the project.
What's the primary of governance?
On-chain governance and off-chain governance are two primary decision-making structures in blockchain projects. In on-chain governance, the rules for voting and decision-making are embedded within the blockchain itself, requiring all network nodes to approve proposed changes. This approach is seen as more aligned with the decentralization ethos of cryptocurrencies but can concentrate power in the hands of miners. In contrast, off-chain governance, used by Bitcoin and Ethereum, involves various stakeholders like developers, miners, users, and supporters participating in decision-making through communication channels. However, changes are not written directly into the blockchain's code, making it less decentralized compared to on-chain governance.
What is the governance structure of Bitcoin?
Bitcoin's decision-making process is governed by its Proof-of-Work (PoW) consensus mechanism. Essentially, this means that Bitcoin miners compete to solve a complex puzzle, and the winner is granted new bitcoins and transaction fees as a reward.