This article was first published on Stories by yoyow on Medium
Committee — — The Decision Maker of the YOYOW Network
Most people’s understanding of the blockchain is limited to the technical aspects. If you talk to someone about any crypto project, they will ask you “What is the tps?” “Is it a smart contract platform?” or “Is there any technical innovation compare to the mainstream blockchain projects like Bitcoin and Ethereum?” However, most people would not mention the non-technical aspects， such as the design of a blockchain’s token economy and governance model.
It is human nature to look for quick success. Thus new projects always rely on technical innovations to attract eyeballs in order to survive. The determining factors for projects’ future development, such as whether the token design is reasonable and whether the governance model is stable and efficient, seems still quite far away from us after all.
However, what we cannot ignore is that blockchain projects, like organic living organisms, need to constantly innovate in the operation and maintenance process to adapt to the new environment and solve new problems.
2. YOYOW’s Governance
To understand the committee, we must first understand YOYOW’s governance model.
Issues to be addressed in blockchain governance include: how groups with different interests are balanced; governance structures and rules of procedures; conflicting interests or opinions on how to make compromises and how to reach group decisions that have general constraints on members, etc. Governance consensus involves peoples’ subjective value judgment and processes subjective multi-value consensus. Participants in governance consensus converge to one single opinion otherwise the governance consensus would fail. A successful blockchain system must have a mechanism for achieving consensus and self-innovation within a mature community.
Bitcoin developers share their improvement proposals (BIPs) through an E-mail list while the Ethereum Foundation collects proposals (BIPs) on GitHub. This kind of governance is somewhat ...
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