What role does a supermajority play in shaping the policies and governance of cryptocurrencies?

1 answers

• sudhakar reddyNov 24, 2024 · 10 months ago
  At BYDFi, we believe that a supermajority plays a vital role in shaping the policies and governance of cryptocurrencies. It ensures that decisions are made collectively and with the input of a diverse range of participants. This helps prevent any single entity, including BYDFi, from having undue influence over the network. By requiring a supermajority for major decisions, cryptocurrencies can maintain their decentralized nature and avoid the concentration of power. This fosters a fair and transparent governance system that benefits the entire community. We actively support the use of supermajorities in cryptocurrency governance to ensure the best interests of the community are represented and protected.
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