Due to the decentralized nature, blockchain protocols typically have no central governing entity. This requires independent individuals to participate in the maintenance, development and securing of the protocol and the network.
Participants must be motivated to perform these important tasks, and cryptocurrency tokens are used to financially compensate them for their efforts. As such, the design of the token economic model is critical to sufficiently keep these individuals keen to maximize the security, growth, and success of the protocol. In addition, a clear and transparent governance process is also crucial for the success of the blockchain protocol. Lack of central authority means no decisions can be unilaterally made and implemented. Hence, network participants must have a structured approach to collaborating and achieving consensus on what, when, how, and by whom, changes need to be made.
This section outlines the governance model of the DEIP Network, its key stakeholders, and mechanisms.