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Definition: off-chain governance

Modifications to a blockchain that are proposed or made by a development team. Off-chain governance is a blockchain that operates like any organization, wherein a core group of people make decisions. For example, Bitcoin and Ethereum use off-chain governance. In contrast, on-chain governance is how a DAO operates. DAOs issue governance tokens, and members have voting rights because they purchased or were given voting tokens. See off-chain, DAO and fungible token.