Protocol 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 incentivize individuals 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 made and implemented unilaterally. Hence, network participants must have a structured approach to collaborating and achieving consensus on which changes need to be made, plus when, how, and by whom.