Altcoins News
By Dan Saada
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Polkadot (DOT) Decentralized Governance
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The process of handing over the control of Polkadot over to the users in a way making it possible for the redenomination vote to take place was made possible on the denomination…
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Polkadot recently tweeted: “At block number 1,248,328 on August 21st at 16:48 UTC, the DOT token underwent a redenomination from its original sale.
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The denomination day did not change anything because the percentage of the DOT a user owns relative to the total supply will remain unchanged.
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Now, the Sudo has been removed and the fate of Polkadot is 100% with the stakeholders in the decentralized network.
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The denomination day enabling governance is a good thing for the stakeholders and the network as a whole.
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Sydney Ifergan, the crypto expert tweeted: “Together Everyone Achieves More. This is something that Polkadot (DOT) realizes well.
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Decentralized network DOT governance made 100% redenomination of the DOT token. This happened because of the first vote by Polkadot’s decentralized decision making system.
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Of note, nearly, one-third of the tokens which voted in the process represented a resounding success for the Polkadot’s decentralized on-chain governance.
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One of the users who tried to understand the new governance model tweeted: “So in normal people terms. Nothing has changed.
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Polkadot is now set to bring in innovations to the DeFi World. DOT tech is great as it has greatly enhanced the DAO/voting system and the bridge coin/ERC20 assets.
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