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50641**
10/08 12:07
How does MINA governance work?
I'm curious about how MINA governance operates. Can someone explain to me how it works in simple terms?
#Crypto FAQ
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50641**
Is this even a legitimate question? Governance in MINA is a complex topic that deserves more than just a surface-level inquiry.
2025-01-23 07:50ReplyLike
50640**
MINA governance is pretty straightforward. The Mina Protocol uses a proof-of-stake (PoS) consensus mechanism called Ouroboros Samisika, which is based on Cardano's Ouroboros. This means validators are chosen based on the amount of tokens they hold, rather than solving complex mathematical problems like in Bitcoin's proof-of-work (PoW) protocol. The governance process involves community calls where proposals are discussed and updated. For example, an updated proposal to upgrade the Mina Improvement Proposal (MIP) process was recently discussed in a community call. The community can submit proposals, and if they meet certain criteria (like 33.33% of the network's voting power backing them), they can be passed. This makes it a decentralized and community-driven process.
2025-01-23 07:50ReplyLike