Revolutionizing Polkadot Governance: A Sneak Peek into the Upcoming Substrate Improvements
Greetings, Blockchain Enthusiasts! 🚀🌐
I hope this message finds you all thriving and innovating. It’s been a while since we’ve touched base!
In the intervening time, I’ve been diving deep into the world of Substrate Blockchain frameworks. 💻⛓️ I’m thrilled to share some illuminating insights I’ve gathered about Polkadot Governance.
So, buckle up and let’s embark on this knowledge journey together… 🚀📚
Polkadot, the multi-chain platform that enables cross-chain interoperability, has been a game-changer in the blockchain ecosystem. Its governance model, a key component of the system, has however had a few features that, in my perspective, needed some refining.
The Past: Areas for Improvement
In my journey with Polkadot Governance, I’ve come across a few features that, in my opinion, needed some refinement:
1. Single Referendum System — The limitation of voting on just one referendum at a time was restrictive.
2. Single Delegation System — A single delegation system for different purposes didn’t offer the flexibility required in a multi-faceted environment.
3. Council-dependent Enactment — The need for a council to enact agreed-upon referendums seemed to slow down the process.
The Future: Embracing Change
The exciting news is that these areas are receiving a significant upgrade in the upcoming version of the Substrate:
1. Multiple Referendum Voting — Soon, we will have the liberty to vote on multiple referendums simultaneously. This change is set to democratize the decision-making process further.
2. Multi-delegation System — Delegation of voting power to different people based on their expertise will soon be possible, providing more customization and better use of individual knowledge and skills.
3. Immediate Referendum Enactment — The need for a council’s approval for enactment will be eliminated. Each passed referendum will be enacted in the very next block, ensuring swift implementation.
Conclusion
I’m thrilled about these changes and eagerly anticipate their implementation. With these updates, Polkadot’s governance model will become more flexible, democratic, and efficient, further enhancing the overall user experience.
For a deeper dive into these improvements, I recommend this insightful video.
As we move into this new era of Polkadot governance, it will be exciting to see how these changes shape the future of blockchain decision-making and contribute to the evolution of the entire ecosystem.
If you have any thoughts or insights about the upcoming changes, please feel free to leave them in the comments section below. Let’s engage in a fruitful discussion about the future of Polkadot governance!
That’s it for now.
Till then, stay tuned! Take care 🙂.
See you on my next blog.
Thanks for giving your precious time to this article.
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