On-chain controls are governance mechanisms and operational rules directly embedded within a blockchain protocol or smart contract, executing automatically without human intervention. These controls dictate parameters such as token supply adjustments, fee structures, protocol upgrades, or dispute resolution processes. They enforce predetermined conditions and ensure transparent, immutable execution of decisions. Such controls are fundamental to the autonomy and trustlessness of decentralized systems.
Context
On-chain controls are central to the functioning and evolution of decentralized autonomous organizations and other blockchain protocols. News frequently reports on proposals for modifying these controls or the outcomes of governance votes. Debates often focus on the balance between immutability and adaptability, as well as the potential for centralization if control is concentrated among a few large token holders.
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