Hard governance refers to a structured and formal approach to decision-making within a blockchain network. It encompasses strict protocols and rules that must be followed by all participants in the ecosystem. This can include processes for voting on proposals, implementing changes, and managing disputes.In many blockchain projects, hard governance involves a clear chain of command or hierarchy. For example, only specific entities or stakeholders may have the authority to propose changes or vote on key issues. This structure aims to ensure stability and minimize the risk of conflicts arising from decentralized decision-making.However, hard governance can also present challenges. It may lead to centralization, where a small group of participants holds significant power over the network. This could undermine the original principles of decentralization and community-driven development.Overall, hard governance seeks to create a more organized system for managing a blockchain, but it must balance authority with the foundational ideals of inclusivity and fairness within the ecosystem.
Russia Grants Banks Limited Approval to Handle Cryptocurrencies
Russian banks will be allowed to conduct cryptocurrency operations under strict conditions, the Central Bank announced Friday, marking a cautious