STORE Governance Basics
STORE is pioneering a decentralized republic in which each miner on the network is given a single vote. Here is an overview of the Blockchain Governance Family Tree:
- 1.One entity, one vote (as confirmed by Trust Your Network) - irrespective of the size of a miner’s token ownership.
- 2.Trust Your Network - 2/3 of voters need to reach consensus on decisions
- 3.Separation of powers - formal and enforceable roles that prevent gridlock when miner, developer and holder interests diverge. These roles are as follows;
- 1.Security Branch - keeps network safe
- 2.Judicial Branch - makes monetary policy & leadership recommendations
- 3.Miners across specific Markets - vote on changes
- 4.Executive Branch - carries out changes
A 2/3 fault tolerant decentralized democracy of checks and balances with a separation of powers will govern the rules of the STORE zero-fee settlement layer and the $STORE asset:
Four separate branches form the protocol-level governance and they will be located in four separate countries around the world. Each branch is erected with 2/3 fault tolerance:
Protocol-level governance flows down to Market-level governance along with the 5% block reward.
Miners in Markets reach consensus with trust-your-network, or once a 2/3 super majority is reached on either a shared fact or an actionable vote: