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  1. Home
  2. /Glossary
  3. /Governance
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blockchain

Governance

The process of making decisions about a protocol's development and direction.

Definition

The process of making decisions about a protocol's development and direction. In crypto, governance often happens through token voting where holders propose and vote on changes. More tokens means more voting power.

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Related Terms

DAO (Decentralized Autonomous Organization)

An organization run by code and governed by token holders instead of a traditional management structure.

Token

A digital asset created on an existing blockchain rather than its own chain.

Decentralized

Not controlled by any single entity, authority, or server.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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