BNB Stakers Get a Voice: BNB Chain Upgrades Governance Process

IconCryptoNewsTerminal Staff30 Jul, 2024

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BNB Stakers Get a Voice: BNB Chain Upgrades Governance Process

BNB Chain, the blockchain powering Binance, recently unveiled plans to enhance its governance process, empowering BNB stakers with direct voting rights. Previously, only validators held the authority to propose governance actions. However, the upcoming upgrade will allow BNB stakers to actively participate in the decision-making process by directly casting their votes or delegating their voting power to others. Furthermore, BNB Chain will introduce a formal governance temperature check phase prior to official voting. This step will serve as a preliminary gauge of the community's sentiment towards proposed changes, ensuring a more informed and inclusive decision-making process. These governance enhancements align with BNB Chain's commitment to decentralization and community empowerment, fostering a more inclusive and transparent ecosystem.

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