Why You Need Explicit Governance Mechanisms in Cryptocurrency

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As a decentralized system, any cryptocurrency or blockchain project worth its salt is without masters telling it what it can and can't do. But how do you decide on things when you need to? The answer is decentralized governance. Nakamoto Consensus, or how proof-of-work mining chains come together, was initially thought to be enough in this regard, but I'm here to show you why it isn't anymore, and what major functions of governance you need that aren't provided.

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