“First XRP Ledger Sidechain Takes Major Step in Governance: Details”
The Governance Gaming Portal for the Xahau Network was launched by Bithomp. Xahau, the first sidechain protocol for the XRP Ledger, has made a significant leap in governance. Bithomp, the XRP Ledger explorer, has created a platform that illustrates the governance game scene for Xahau, featuring participants such as XRP Labs, Titanium, Evernode, Digital Governance, and Gatehub Crypto Individual Verification Providers (Level 1), while the Xahau Projects Schedule, Xahau Dev Schedule, Xahau Auditors, and Institutions Exchange Schedule and Xahau Group represent the Level 2.
On October 31, the Xahau network was activated, marking a significant milestone. Before its launch, Xahau introduced its revolutionary governance mechanism known as “Governance Game,” which will control token distribution, reward active users, and ensure network continuity. Each member or auditor will have a say in shaping developments within the Xahau ecosystem.
The Governance Game comprises a total of 20 seats, each with a vote. Some seats represent individual auditors (Level 1), while others represent groups of auditors (Level 2).
The Xahau governance game can be compared to a decision-making body that utilizes a voting mechanism, akin to a DAO (decentralized autonomous organization) that makes decisions based on consensus among its members. Genesis Hooks examine the auditor’s participation in consensus using UNLReport, ensuring a reward for those who only reach the consensus threshold.
GateHub announced shortly after the launch of Xahau that it would begin supporting the Xahau network in its wallet and DEX on November 15.
Disclaimer: The information provided is not financial advice. Chinwa.tech does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.
