Politeia (Decred)

Politeia is the proposal system used by Decred, a cryptocurrency that combines proof-of-work mining with stakeholder voting. Launched in 2018, it lets anyone submit a proposal, such as a development plan, a marketing campaign or a request for money from the project's treasury, and lets the community discuss it publicly. Proposals and comments are stored off-chain for efficiency, but their contents are time-stamped by anchoring cryptographic fingerprints on the Decred blockchain, so later tampering can be detected, much like notarization on blockchain. Votes are cast by holders of Decred's staking tickets, weighting influence by locked stake. Politeia handles proposals and spending decisions, while changes to consensus rules are voted on directly on the chain, making Decred a hybrid of off-chain and on-chain governance. The name comes from the Greek word for a city-state's constitution or citizenship. Also see decentralised governance.