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The Klaytn Foundation has unveiled its plans to introduce a new governance system to provide opportunities for community involvement while encouraging various decentralized projects to operate on the Klaytn platform
Klaytn Foundation Unveils New Measures
The blockchain will soon be much more transparent and have better provisions for community involvement. The blockchain will soon be administered by a new governance system that is being established by the Klaytn Foundation to improve its technical capabilities, sustainability, and decentralization. The foundation was first set up to build and decentralize the blockchain, which is the leading Layer 1 blockchain in South Korea. On Sunday, the foundation unveiled its latest phase of decentralization of the governance roadmap, which will focus on increasing community participation in decision-making and opening up the process of validating blocks by 2024. Dr. Sangmin Seo, Representative Director of the Klaytn Foundation, said,
"With our new initiatives, the Klaytn blockchain has an opportunity to take yet another step towards decentralization. The foundation remains unwavering in its commitment to advancing blockchain technology, fostering community confidence, and working tirelessly toward decentralization."
Governance road map for Klaytn.
It was announced that he would continue to act as the decision-making mediator for the Klaytn blockchain ecosystem for all new projects and large programs focused on new technological applications and commercial orientations. The Foundation will facilitate and manage the CM's vote in the voting chain for this purpose and will direct its energy towards promoting the decisions of members rather than its own. The vote on Canada's government channel would be released in real time via the Klaytn Square governance portal, which will be officially launched in the first half of 2023.
In addition, the foundation also discussed its plans to accelerate its transition to an unauthorized blockchain and begin the blockcheck process by the end of next year.
The foundation said,
“This will allow general validators who stake a to-be-determined amount of KLAY on the Klaytn mainnet to be able to develop and operate various Klaytn-based decentralized services utilizing not only validation but also the scale of their deposits.”
Community participation for the promotion of inclusion.
The foundation also seeks to expand its reach and capabilities by taking over completely all the operations of the original developer of the Klaytn - Krust Universe platform. Another objective of the governance roadmap is to include the community in its decision-making to enhance technology and consensus algorithms to become an open blockchain ecosystem.
The foundation will also present its renewed tokenomics on February 22nd so that the board of governance can decide. The diaries and voting status will be revealed in real time on the governance portal klaytn square. A roadmap for 2023 will be published on February 27.
