Governance Model
Exploring the decentralized governance structure of Cypher's PoE network
Last updated: 2024-03-20
Governance Model Overview
The Governance Model of the Proof of Engagement (PoE) blockchain ensures a decentralized, inclusive, and participatory approach to network governance, emphasizing stakeholder engagement and active participation.
Decentralized Governance Structure
The PoE blockchain introduces a governance framework that decentralizes authority and decision-making power, distributing it among a diverse array of network participants.
Role of Nodes in Governance
Each node's governance weight is calculated based on both stake and engagement:
GovernanceWeight(i) = δ·Stake(i) + ϕ·EngagementScore(i)
Where:
- • GovernanceWeight(i): Weight of node i in governance decisions
- • Stake(i): Stake amount of node i
- • EngagementScore(i): Node's engagement quantification
- • δ, ϕ: Coefficients balancing stake vs engagement importance
Decision-Making Processes
Proposal and Voting Mechanism
Proposals can be submitted by any node, with progression to voting requiring a threshold of preliminary support measured in governance weight.
Outcome = { Approved if ∑(i=1 to N) VoteWeight(i) > ApprovalThreshold Rejected otherwise }
Where:
- • VoteWeight(i): Weight of vote cast by node i
- • ApprovalThreshold: Required metric for proposal approval
Community Involvement
Incentivizing Participation
- Token rewards for governance participation
- Wide representation of interests
- Active stakeholder engagement
Feedback and Iteration
- Community forums and polls
- Iterative improvement process
- Interactive platforms for engagement
Conclusion
The Governance Model of the Proof of Engagement (PoE) blockchain represents an innovative approach to decentralized network governance. By integrating engagement directly into the decision-making process and incentivizing broad community participation, PoE establishes a framework that is both inclusive and effective. This model enhances the network's adaptability and resilience while aligning closely with the principles of decentralized autonomy and stakeholder empowerment.