Polkadot Governance Update
Polkadot, network renowned for interconnecting multiple blockchains, has taken a progressive step to overhaul its governance model. The introduction of Polkadot OpenGov signifies a significant transition to a more community-driven governance structure where the community can vote on multiple proposals concurrently.
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Introduced on a Thursday, Polkadot OpenGov aims to eliminate previous governance structures, namely the Polkadot Council and Technical Committee, which wielded considerable authority in proposal generation and expedited referenda. The Polkadot Council, in particular, had the power to propose referenda and greenlight spending proposals.
In contrast, the newly minted Polkadot Fellowship replaces these entities. Comprising 45 members, with the expectation of growth as more core developers join the ranks, the Polkadot Fellowship exercises no direct control over the network. This new body is devoid of the power to alter network parameters or reallocate assets, representing a move towards a more egalitarian and community-centric model.
Joe Petrowski, System Parachains Team Lead at Web3 Foundation, expounded on the necessity for this paradigm shift. Under the preceding governance structure, only one referendum could be processed at a given time, with a default timeframe of 28 days for each. This resulted in a sluggish pace, with merely 12 to 13 referenda per year. This tempo might be justifiable for critical system updates but proves to be inefficient for proposals such as treasury allocations or parachain auctions.
Polkadot OpenGov heralds the advent of parallel voting tracks, expediting the governance process by allowing the community to vote on multiple issues simultaneously. This flexibility is instrumental in catering to both crucial system upgrades and less sensitive proposals without any bottlenecks.
Notably, before integration into Polkadot, OpenGov was rigorously tested on Kusama, its sister network often referred to as a “canary” network, for six months. The lessons learned from Kusama's trials and the experiences of earlier blockchain systems like Ethereum have informed and shaped Polkadot's governance reforms.
In summary, Polkadot OpenGov epitomizes the maturation and evolution of blockchain governance models, emphasizing community engagement, flexibility, and scalability.
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