Let the votes begin!
In the context of the Polkadot blockchain network, democracy refers to the process by which stakeholders can participate in the governance of the network. Polkadot uses a decentralized governance model in which stakeholders can propose and vote on changes to the network, such as updates to the protocol or the addition of new features. These votes are conducted using a "referendum" system, in which stakeholders can cast their votes on proposals using their stake in the network (i.e., the number of tokens they hold).
The goal of this democratic governance model is to allow stakeholders to have a say in the direction and evolution of the network, and to ensure that the network is run in a decentralized and transparent manner. By allowing stakeholders to participate in the decision-making process, Polkadot aims to create a more decentralized, transparent, and fair governance system for its blockchain network.
The section is primarily divided into two parts ->
- 1.Democracy Proposals
Before any proposal is formed, the proposers are encouraged to initiate a discussion. This helps gauge community sentiment, initiate deliberation and improve the proposal. The discussion can then be linked to the proposal on Polkassembly.