Ledgerium Governance is an on-chain smart contract-driven micro-service which allows Block Producers to work to improve the Ledgerium Blockchain institutions democratically.
Ledgerium Blockchain governance depends on the interactions of validators, block producers and even developers. Smart contracts can be used to manage the agreements made between these parties.
In Ledgerium governance structure, there is no centralised management and all consortium takes decisions democratically. In a centralised model, management decides the strategy and actions for taking the organisation forward, by balancing the interests of various stakeholders.
In a decentralized organisation like Ledgerium Blockchain, each party has voting rights over decisions that affect the organisation as a whole. Smart contracts form the “autonomous” part of the Ledgerium Governance, by encoding the principles of agreements between the parties and then executing the agreements automatically when particular conditions are fulfilled.
One of the core functionality of the Governance application is to let a Peer join the Block Producers/Validators' consortium and participate in on-chain governance. There are limited
21 seats for block producers (BPs) on Ledgerium Blockchain. This number is, however, subjected to deliberate based on the Ledgerium Blockchain Governance model.
A vote is passed if the sum is greater than to n/2, where n is the number of existing block producers in the Ledgerium Blockchain.
Every block producer is given access to Governance DApp which can be accessed at @ https://<BPDomainName>/governance.
Ledgerium Governance is smart-contract based on on-chain governance. Ledgerium Governance may facilitate various use cases, as decided by the Ledgerium Blockchain consortium. Some of the probable use cases could be following:
Block Rewards changes:
Number of XLG per block
Stopping block rewards
Burn XLG to reduce supply
Block Producer Vote IN constraints
Ledgerium Blockchain Developers community projects launch
Enable remix for private transactions
Enable Ledgerium Wallet for private transactions
Enable Ledgerium Wallet for different browsers