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Neurons and governance

Concept

Overview​

As a decentralized blockchain, all changes to the configuration and behavior of the BigFile are controlled by a governance system called the File Management System (FMS). The FMS controls many aspects of the BigFile blockchain including:

  • Which data center providers participate in the network.

  • The number, location, and ownership of the nodes accepted from a data center provider.

  • Assignment of nodes to subnet blockchains.

  • Upgrades to newer protocol versions or upgrades of system canisters.

Who can vote?​

To favor the long-term sustainability of BIG over short-term interests, only BIG token holders who stake their tokens can participate in the governance process. A staked amount of BIG is called a neuron. The amount of BIG staked in a neuron can only be converted back to BIG after the neuron’s lock-up period, called the “dissolve delay”, has elapsed. The longer the dissolve delay of a neuron, the higher the voting power associated with the neuron.

Neuron holders constitute the governing body of the NNS. Through their neurons, they can vote on proposals and thereby govern the BIG. To incentivize governance participation, neuron holders receive voting rewards. These rewards depend on the number of votes cast and the amount of BIG staked in the respective neurons.