Polkadot Unveils Proposal for Next Generation of Governance

The Polkadot network will launch the Gov2 on Kusama Chain after a final professional audit of its code.

Polkadot Unveils Proposal for Next Generation of Governance

Polkadot creator Gavin Wood revealed the next generation of governance for the DOT ecosystem after the V2 is tested on Kusama a proposal will be made for the Polkadot network to vote on.

The new governance system does not intend to break from the original tenet, where 50% of the total stake in the system should be able ultimately to direct the system's future also does not detach from the Conviction Voting introduced in Polkadot that aims to provide further weight to users willing to look their tokens into the system for longer.

“Where it differs most is how it manages the practical means of day-to-day decision-making, making the repercussions of referenda better scoped and agile in order to dramatically increase the number of collective decisions the system is able to take. Let’s look a little deeper into how it works.”

The governance system is still in the development mode and focuses on lowering the barriers by removing additional bodies that serve as first-class citizens like the Council and Technical Committee 

All users may start several referenda at any time, and anyone can vote on these, There is no limit to making it less cumbersome Gov 2 presents some features to the referendum process. A referendum must satisfy several criteria before it proceeds to the Deciding stage until which it will remain undecided.

Also, Gov2 has provisions for proposal which are probably already being voted on but contain a problem and canceling it. is the only way to go, the special operation for intervening is called Cancellation which will immediately dismiss an ongoing referendum regardless of its status to executive this governance operation the network will have to vote on it.

Polkadot has retained and enhanced a vote Delegation feature in Gov by enabling users to delegate their voting power to another voter in the system.

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