Governance Phase 2: Steering Committee and Advancing Proposals
Tags: Governance, Blockchain, Steering Committee, Blockchain Technology, Gochain

The GoChain Foundation set out to build a fast, cost-effective blockchain network to solve the Ethereum scaling problem-and we’ve delivered on that promise. Our innovative Proof-of-Reputation consortium is continuing to grow with the most reputable and impressive companies and organizations in the blockchain space. In the last couple months, we’ve onboarded the Pennsylvania State University and Global Roundtable for Sustainable Beef into our signing node consortium.

As we continue to add more nodes, the time to begin introducing more democratized and decentralized governance has come. This means ensuring changes to the GoChain blockchain public network, software development and R&D is heard by all stakeholders (Foundation, nodes and $GO token holders). As 2020 comes to an end, we would like to outline the additional steps being taken to further ensure a smooth governance framework rollout into 2021.

Going forward, the GoChain Foundation will operate with a steering committee and new governance mechanisms for improving the protocol. Last month the GoChain Foundation outlined a Governance Phase 2 plan for Improvement Proposals & Voting. To date, this has been well received with the support of the community and our signing node consortium.

Steering Committee

The GoChain Foundation Steering Committee will be the first member-driven governance group instituted in the governance framework rollout. GitHub proposals that meet the minimum threshold to advance will then be formally reviewed and voted on by the Steering Committee to determine if the proposal advances to official community-wide vote.

The Committee will be composed of seven members representing the various parties interested in the success of the network. Seats are allocated to represent the following groups:

● Two Members are appointed to represent the GoChain Foundation

● Three Members are appointed to represent the GoChain Signing Node Consortium

● Two Members are elected to represent External Stakeholders

Members of the GoChain Signing Node Consortium will ideally consist of an NGO, Enterprise, and University node. Initial External Stakeholders will be appointed by the GoChain Foundation to serve an interim term (not to exceed six months) until a formal vote is able to be conducted by the community for two new External Stakeholder members. Additional details on the formation of the GoChain Steering Committee, inaugural members as well as the process for submitting candidates for consideration to serve as a potential steering committee member will be forthcoming in a separate update.

Advancing Improvement Proposals:

There are two major proposals which have surpassed formal support on Github. These proposals are now advancing to an on-chain voting process outlined in the Improvement Proposals & Voting announcement. These proposals will bypass the Steering Committee until inaugurated.

1) Proposal to increase the minimum gas fee for public blockchain transactions — GIP #29

2) Proposal to burn all gas fees — GIP #30

Voting for these proposals will be available on the MyGoChain Portal. You must register to vote before Monday, December 7th. Registration and voting instructions can be found here — https://github.com/gochain/gips/wiki/how_to_vote

Questions or Concerns?

Please reach out on our Telegram group or email us.