Bitcoin Forum

Governance plays a critical role in the success and sustainability of a cryptocurrency ecosystem, It ensure that decision are being made in a democratic, transparent and secure manner. The interest of all stakeholders are taken into consideration. Over the years people got bored of the traditional kind of government, crypto freaks want new thing add to it  like time locking or some other features that ensure the security and safety of their investment. Recently oscar swap has been introduced in the market with its incredible form of governance. Oscarswap has implemented a time locking smart contract to ensure that the community governance decisions are implemented. Another addition is of  administration system that enables a multiset wallet to spend the funds from the Treasury Fund.

Bitcoin (from genesis block) operates independently of governments, and yet some of them try to impose a lot of restrictions and regulations on it, and yet it will continue to grow, so government regulation does not play an important role in the success and sustainability of the cryptocurrency ecosystem.



The time locking feature does not provide maximum security. Once the hacker knows the private key, he can connect it to a high-speed bot, and thus, once the time expires, he will be able to send those coins to his wallet.

This feature already exists, what is new or unique feature here?

I think he meant about the community as a governance, which is community act like a governance, not a governance who control the project. That's similar like Bitcoin where no one is control it and any new proposal need to be accepted by most of Bitcoin developers.

What's time locking feature do you mean?

Did you mean staking into a centralized pool which mostly POS tokens have this feature? that's nothing new anymore.

Bitcoin also have a time lock transaction where you're create a transaction and set it for a specific date, the transaction will be executed when the time comes.