Understanding Blockchain Governance: Analyzing Decentralized Voting to Amend DeFi Smart Contracts

arXiv:2305.17655v3 Announce Type: replace
Abstract: Smart contracts are contractual agreements between participants of a blockchain, who cannot implicitly trust one another. They are software programs that run on top of a blockchain, and we may need to change them from time to time (e.g., to fix bugs or address new use cases). Governance protocols define the means for amending or changing these smart contracts without any centralized authority. They distribute the decision-making power to every user of the smart contract: …

address arxiv blockchain bugs change contracts cs.cr decentralized defi fix governance may run smart smart contracts software trust understanding voting