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Educational Byte: What are governance tokens and what can they do?
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This story was originally published on HackerNoon at: https://hackernoon.com/educational-byte-what-are-governance-tokens-and-what-can-they-do.
Governance tokens give holders the right to participate in the decision-making process of a decentralized ecosystem. Discover how it works!
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Governance tokens are a type of cryptocurrency that gives holders the right to participate in the decision-making process of a decentralized ecosystem. Holders of governance tokens can propose changes or vote on existing proposals related to the project’s rules, upgrades, and overall management. They often come during the initial launch of a crypto protocol or a decentralized application (Dapp)
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