Governance Models for Puss Coin: Decentralization, Community Control, and Security

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As the world of crypto keeps evolving and keeps growing rapidly, one of the things that I have seen is that governance is actually the key for success. Talking about a project like Puss Coin, the governance model must actually go along with either the Decentralisation, community control and security to achieve trust.

When we need to address the three pillars of governance which is Decentralisation, community control and also the security, all these three pillars will make sure that the Puss Coin will actually establish itself as one of the coin that will help the community to achieve market changes and also to maintain the key of transparency and security.

Talking about the Decentralisation Is the major determinants of the success of the Blockchain technology, then it will really be a very strong principle that will help to achieve success for the Puss Coin, then the Decentralised governance model is actually needed that will help the decision making in the network of the participants and that will help to achieve the central authority to be eliminated.

Talking about why Decentralisation actually matters in the Puss Coin. A particular Decentralised network is actually able to give access to failure making use of attacks and mismanagement. The Decentralisation actually creates this independence feeling because of the fact that you can eliminate the centralised authority. With a Decentralised governance model, it can help to assist the type of decision making that will help participants within the project to perform and feel like they are involved in the project as compared to the majority of some proverbs that are centralised based.

The issue with Decentralisation is that it will help you to achieve trust. Trust can be achieved when there is this Decentralised feature because it creates a system whereby all stakeholders will be able to participate and contribute to their quota towards the growth and success of the project in the long run. I believe Puss Coin actually has this type of governance model system most especially the use of smart contracts whereby decisions can be voted and taken in by the community.

Let me briefly talk about Community Control which is the heart of the governance most especially the aspect of the community control. In fact I have come to discover that the cryptocurrency actually most especially projects that is established on the strength of the community and Puss Coin can make use of these to make sure that they achieve the desire of the users.

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There are a lot of benefits that Community control actually achieved. The first benefits is the ownership. The major goal is that it will make the token holders to actually handle their sense of participation for the growth of the project. The second benefit that the community control offer is Transparency. Sometimes I actually believe that there can still be a need for discussions and debate concerning decisions in the projects.

The last benefit I talked about is the innovation. The innovation aspect is the key because when we combine all the ideas and strategies that all the users or participants of the projects come together actually have the creative solutions that will help the network of adaptability and also implementation also. DAOs actually enable the token holders to help make sure that decision making processes help to strive for engagement and strengthen participation.

The last one I will like to talk about is the Security aspect. Even though that the Decentralisation and the community control are very important, I will say the most important is the security aspect. The truth is a lot of governance system in the centralised authority actually.

Well there are some security challenges in Governance for the aspect of the sybil attacks. The issue is a lot of people or criminals are making use of the wrong identities to actually change the voting processes. The second challenge is the aspect of the smart contract exploits as there is a high level of vulnerabilities when it comes to the governance smart contracts because it is leading to theft of funds.

Identity verification is really key because it will help you to actually do the reputation based system and this types of mechanisms to actually make sure that incidents like Sybil attacks. Auditing is really necessary to actually audit smart contracts and make sure that the governance protocols to make sure that those vulnerabilities are seen.

In conclusion, I strongly believe that the governance of the Puss Coin actually must embrace the Decentralisation system to help empower the community and helps to achieve security. All these three principles must make sure that it must be combined together to make sure that we achieve the success we desire in the Puss Coin Project. The future is bright.