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A Summary of

The myth of the irrational token holder

by
Kathleen Breitman
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Tezos is a blockchain that employs a native governance mechanism. The community holds power to decide changes to the protocol.

Governance system breakdown

  • Voting is based on proportional ownership of tokens
  • More like dynamics of corporate governance rather than corporate democracy
  • All parties involved have an interest in preserving the network
  • Uses delegates for voting The blockchain network relies on the faith of those who use it – the network loses value in the case of collusion
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