Gavin Wood, founder of Polkadot, announced that a new transformation of the blockchain governance model is underway. The announcement was made by Wood on Wednesday at the Streaming Main Stage event at the Polkadot Decoded 2022 conference.
He announced that the current “Layer 0” blockchain will move to a comprehensive and decentralized model. Wood announced a new “Gov2” model and talked about how the new model can help improve Polkadot’s decision making.
Polkadot’s governance model envisions collective decision making
The main purpose of the new governance model is to improve the percentage of group selection that the Polkadot governance system can perform. In contrast to the existing approach of adopting public proposal queues, the new governance model allows anyone to initiate a referendum when they make a choice.
The new Gov2 governance model can include multiple referendums that simultaneously cover different issues that are occurring. In addition, there is no limit to the number of referendums that can be voted. The new model will also introduce Polkadot Fellowships to replace the technical committees and governance councils involved in the voting process.
Fellowship will continue to hear the ideas of technical experts and take them into consideration in Polkadot governance without unduely impacting this group of stakeholders. The new multirole delegation model allows Polkadot owners to delegate voting rights to community leaders.
The Gov2 governance model guarantees more flexibility and freedom. Separately, new safeguards have been introduced to protect the protocol from attacks. A framework called Origins and Tracks is used to manage Polkadot’s governance and protect it from dangerous actors.
The new governance model begins in Kusama shortly after an appropriate audit of the model’s code.