What is Governance Token in cryptocurrency?

I believe by now many people especially those that have been in the cryptocurreny ecosystem for a very long time i.e the oldies might have known what governance token is by this point in time. I know they are some oldies that don't still knows what governance token is. So regarding that, this post will be helpful to the newbies and the oldies at same time. This indeed is going to be an educative post if I must say. I know how vital governance token is when you are talking about cryptocurrency and blockchain in particular. This is why when this post runs into my mind I had to rush down to make sure that I am able to discuss about it no matter what. We all knows that governance is vital in all aspect of life not to talk of cryptocurreny and blockchain only. I am suggesting to everybody out there that governance token has to be remodified. This is simply because it is a good idea, the only thing I had to say is that no matter how cool something is, you must have somebody or someone who are out there trying to makes it looks like it is not worth it or it is useless at all cost. In a nutshell no matter how cool governance token is to some persons, we still have some person's that will never sees anything special about it.

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When it comes to life, government is very important. As for a country, government system is very vital. This is why I categorically said that government is something we should never jokes with, it should be treated so important, this is simply because it is the back bone of every government. If you take note and have been observant, you must have noticed that for some long period of time you will see how important governance is to all countries economy. A government that their government is bad is definitely in a very big mess. The reason why you are seeing some countries struggling today is simply because of bad governance. When bad governance hits an economy just bear it on your mind that such country is in total chaos and mess. A country can have all the money in the world but if they have bad governance they are in trouble. It will drive their economy to zero.

At this point in time I must admit that those who have read it up till this point must be eager to knows what governance is when your are talking about cryptocurreny and blockchain in particular. Well, wait no more as what governance is will be discussed right away. We all knows that when it comes to o politics, for a change to be made to a government there has to be election, it is this election that will allows people to be able to cast their vote. Mind you, there is no way you can be able to vote without having your voters card. This is simply how governance token is when you are referring to cryptocurrency and blockchain in particular. Takes for example, in cryptocurrency ecosystem or project, for there to be changes to code, developers must push out the changes in the form of code and when this is done it is now left for you to be able to cast your regarding that code. All you have to do is to either vote yes or no on such code in other to approves or declines it. Mind you, in almost all the cryptocurrency ecosystem that I knows, for you to be able to cast that vote you must have the cryptocurreny project token. This is just like the voters card that I referred to when I was using countries government as a case study.

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I believe from the above we all have seen what is cryptocurreny governance token. With that, let us look at how important the governance token is when you are referring to cryptocurreny. One good thing about governance token is that it gives the cryptocurrency project the opportunity for those who believe in the cryptocurrency project to invest their money in it rather than just dumping their token. This strategies allows money to always be in the cryptocurrency system. If you definitely love the project you will love to cast your vote so as to give that cryptocurrency project the best. Without being told governance token as time goes on will becomes the best thing that will happened to crypocurrency. I am suspecting that with time there is no way any cryptocurrency project will do without governance token system. This is simply because the governance token will ends up being the engine room of any cryptocurrency project that uses it.

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I will end the post here, if you have anything else to say please air your view by commenting under this post.

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