RE: SEC S17W1|| The blockchain sequencers
Greetings friend,
When it comes to the governance structure of the Steem blockchain, it has a big impact on how transactions are ordered. Stakeholders, who are like the important players in the system, have the power to decide the order in which transactions are processed. This helps prevent any one person or group from manipulating the sequence of transactions for their own gain. It adds an extra layer of fairness and security to the blockchain.
And you're right, the decentralized governance structure of Steem also plays a major role in network security. Even though decisions are made collectively by the stakeholders, it becomes really tough for bad actors to compromise the network. That's because the distributed nature of governance ensures that no single entity can make decisions on their own that could harm the overall security of the blockchain.
Let's say there's a proposal to add a new feature to the Steem blockchain, like an upgraded voting system. The stakeholders, who hold Steem tokens, get to openly vote either for or against the proposal. If the majority of stakeholders vote in favor, the proposal gets approved and the new feature gets implemented. This democratic process ensures that decisions are made in the best interest of the community.
Good luck in the contest friend.
Greetings to you too!!
I warmly welcome you at my post. I am happy that you have enjoyed my content in true meanings as well as not only you enjoyed but you also gain significant knowledge through my post I agree about stakeholders role in a blockchain that the more a person have holdings the more he have chances to validate and verify transactions.
You are also talking about decentralized governance structure of STEEM so it is providing its major role in security of network as well as I agree with you that whatever decisions are made at this blockchain are collectively made by stakeholders so this is a distributed nature of government don't allow any single person to make decisions of their own choice because it can harm overall security of blockchain also.
You have just go to as it is example from my post and I have already clear that example.
Thank you so much for wishing me good luck in this challenge