What is Quorum (Governance)?

A quorum is defined as the minimum number of members required to conduct business within a specific group. As it pertains to blockchain technology, quorum biasing denotes that if many voters participate, the vote is more legitimate than if, in turn, very few participate. This mechanism can be used to determine the fairness of specific proposed blockchain-based governance parameters, such as the minimum amount of participating tokens required for a vote to be valid. Typically, if a vote fails to reach the quorum, then it is automatically cancelled.