Reign is Gain: What is On-Chain Governance?
Maybe you can’t change the world. But you can change the world of Cros — and that’s just about the same thing.
Welcome to the Cros Utopia. Governance in the world we live in can be deemed as authoritarian, bureaucratic, and even scary at times. Governance in the crypto world is a lot of fun, and most importantly, a lot friendlier. It’s built on the concept of decentralized collaboration, pretty much like Cros! That’s not to say that there are no leaders in the crypto world — it’s rather that we are all leaders — or at least we have the option to be.
Allow us to get a little technical. On-chain governance is a system for managing and executing changes to blockchains. These changes are mainly upgrades desired by the blockchain community, in our case that of Cros’, to happen. In on-chain governance, rules for initiating changes are encoded into each blockchain protocol. Developers propose changes through code updates and $CROS stakers vote on whether to pass or halt the proposal.
The on-chain governance system on Cros Network is split in two: Council Members and a Technical Committee. The roles of each are as follows:
It’s basically a group of democratically elected members from the Cros community who have the responsibility of representing their fellow passive stakeholders in two primary governance roles: proposing referenda and vetoing dangerous or malicious referenda.
The Technical Committee
Whereas the Technical Committee is composed of teams actively building Cros. This team has the power to propose emergency referenda when needed, together with the council, for fast-tracked voting and implementation.
Cros is a democratic, decentralized ecosystem owned and ruled by its users. Advantages to its governance system are countless. Changes to the Cros blockchain are not limited to the reign of a single authoritative developer community. Everyone is allowed to vote on the proposed change and can read about or discuss its benefits and drawbacks on GitHub or Discord; relying on the community for collective decision-making.
Being decentralized gives the on-chain governance an advantage of reaching consensus within a shorter period of time than traditional informal governance systems, which require time and effort between stakeholders in order to achieve consensus. Also, algorithmic voting mechanisms are relatively faster because test results for their implementation can be seen via a code update. But wait, there’s more — you also have the advantage of running that change you just voted on on a test next to see the implications of the upgrade before setting it out in the open. It’s democracy beyond your dreams — and it’s here in your waking life.