This article was first published on Stories by Enigma Project on Medium
Learn how anyone can help determine and contribute to the future of Enigma with governance proposals!
Hello to the Enigma community! Today we’re focusing on one of the key elements of the Enigma mainnet blockchain: governance.
As you may already know, our network of community validators recently launched the Enigma mainnet. Joining the Cosmos ecosystem brings Enigma closer to supporting privacy solutions for a multi-chain ecosystem, including support for Ethereum. One of the most important changes made in this launch is adding elements of on-chain governance to the protocol. This allows members of the community to delegate voting power and influence protocol development, which is fully open source. Collectively, the goal of our team and community is to facilitate coordination through efficient and effective management of shared resources.
For now, there are over 20 validators operating nodes and staking SCRT coins. With the addition of delegation and governance, there are now direct ways for more Enigma community members to participate in the future of the protocol, marking a fundamental change to how the project is organized and a new beginning for Enigma.
Moving forward, the Enigma development team (and any other contributors) must make changes to the protocol using proposals, which are voted on and approved by network validators. Our team is also looking forward to participating in the Cosmos Governance Working Group, learning more about the governance module, and possibly working towards improvements.
Here is some information on how governance works on the Enigma chain. Before getting into the details, there’s a few things we should clarify.
- Proposal Submission: Users can submit proposals to the Enigma network with a deposit. Once the minimum deposit is reached, the proposal enters voting period.
- Vote: Participants can vote on proposals that reached MinDeposit threshold. There are four types of votes: ...
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Stories by Enigma Project on Medium