The Three Pillars of Polygon Governance
Polygon Labs, the developer company behind the decentralized Polygon blockchain, recently introduced three fundamental pillars to be included in the project's management. These pillars aim to ensure better decentralization and transparency in decision-making and the management of the Polygon ecosystem.
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Polygon Labs’ vision is of a fair and inclusive world that is powered by decentralized technology. The team wants to focus on designing decentralized frameworks that support the optimal maintenance and development of the Polygon protocols. The goal is for the protocols to not require a single coordinating entity, which will allow Polygon Labs' role in the ecosystem to be gradually reduced. The team strives to foster the emergence of a vibrant, decentralized community that will be able to take on the role of maintaining and developing the blockchain in the future.
Therefore, the company have outlined three pillars for the future management of the Polygon blockchain:
- Protocol Governance
- System Smart Contracts Governance
- Public Goods Funding
Polygon Labs will explore how best to gradually transfer control of the protocol to the community. The recent launch of the PIP (Polygon Improvement Proposal) is the first step towards doing this.
Smart Contracts Governance System
The Polygon protocol will ensure the highest level of security by creating a security council consisting of community members and security experts to oversee bridging and contract implementation. The council aims to provide necessary guidance as the Polygon protocol gains more users and upgrades various contracts.
Public Goods Funding
It is important to maintain and develop decentralized infrastructure in blockchain networks. A lack of participation in the base layer of the protocol can halt progress and hinder application development. Developers of the foundational protocols rely on grants and other sources of funding, which can be a problem. The decentralized community should be able to autonomously allocate capital to grow the protocol ecosystem.
Polygon Labs has clearly defined pillars that will determine the future direction of the organization in conjunction with the community. These pillars focus on strengthening decentralization and increasing community participation in managing the entire ecosystem. This process will occur gradually, and as the level of community involvement increases, the influence of Polygon Labs on the operation of the Polygon blockchain will lessen.
Polygon is a large blockchain with many collaborations and partners. Several companies are heavily intertwined with the protocol, and significant finances have been invested. Therefore, I ultimately believe that full decentralization will only exist on paper and that everything will be controlled by the major players behind the scenes. It's a good marketing strategy to attract new users, but in the future, it's uncertain whether this network will truly be decentralized.