Difference between revisions of "Decentralization in ICP: Protocol Governance"

Revision as of 19:05, 5 April 2023

Background

The Network Nervous System (NNS) is an open algorithmic governance system that oversees the [ICP] network and the token economics. This governance system, the NNS, is controlled by a DAO of users all voting. The example below illustrates what this means in practice.

Design Intent and how users join the NNS DAO

The NNS is designed to hold the following properties:

Anyone can participate in the NNS DAO by staking ICP into neurons and voting in proposals. Each neuron has a voting power corresponding to the amount of ICP staked, how long it is staked for and how long the neuron has existed.
NNS DAO controls everything in the network including software and hardware changes.
NNS allows liquid democracy so stakers can have their neurons follow the votes of other neurons.
Create a structured way for the network to quickly update itself (in comparison to other blockchains where upgrades can take a lot of time and manual effort).

Example: Upgrading the network’s code

Current State of Decentralization ICP

To see the latest measures of NNS decentralization, see: https://medium.com/@dfinity/nns-and-decentralization-5f4963e83df7

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 ==Background ==
-The [[Network Nervous System]] is an open algorithmic governance system that oversees the [ICP] network and the token economics. This governance system, the NNS, is controlled by a DAO of users all voting. The example below illustrates what this means in practice.
+The [[Network Nervous System]] (NNS) is an open algorithmic governance system that oversees the [ICP] network and the token economics. This governance system, the NNS, is controlled by a DAO of users all voting. The example below illustrates what this means in practice.
 ==Design Intent and how users join the NNS DAO ==