A sophisticated system of governance allows KILT to run as a decentralized identity blockchain that can evolve and be self-sustainable, enhancing privacy on the internet for decades to come.
Any KILT Coin holder can submit a proposal, which then goes through a formal, transparent on-chain procedure. A proposal usually ends in a referendum that goes to community vote. KILT Coin holders can also vote on existing proposals and referenda.
Coins that are locked for staking can also be used to vote.
When a referendum on KILT is successful, the upgrade will be enacted by the blockchain after KILT’s enactment period of one day. Upgrades do not require a “fork” in the blockchain, as often found in older blockchain networks like Bitcoin. KILT upgrades can simply be carried out by changing the code on-chain, also known as a runtime upgrade.