Definition ∞ Shared Ledger Governance refers to the rules, processes, and mechanisms by which participants collectively manage and update a distributed ledger technology (DLT) network. This includes decision-making regarding protocol upgrades, dispute resolution, and parameter adjustments. It defines how a decentralized system maintains its integrity and evolves over time.
Context ∞ The design of effective shared ledger governance models is a critical aspect of blockchain development, impacting decentralization, security, and the ability of a network to adapt. Debates often revolve around balancing the interests of various stakeholders, such as developers, validators, and users, and ensuring transparent and equitable decision-making processes in public and permissioned DLTs.
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