What is On-Chain Governance?

On-chain governance takes place inside a blockchain network protocol. This procedure often refers to a means of establishing rules for the protocol and its ecosystem, typically through the use of automated algorithms. On-chain governance general takes into consideration the global blockchain community by allowing the blockchain's crypto holders to vote on protocol upgrades, changes, and alterations. Both on-chain and off-chain governance systems work together to improve the blockchain ecosystem (and its underlying protocol) as it matures over time.