Governance Action
A Governance Action is a proposal that gets submitted On-Chain for voting. It is an on-chain event triggered by a transaction. Governance actions have an expiration period, after which the action cannot be enacted.
Any ada holder can submit a governance action for a vote on-chain. Once the action is recorded on the ledger, voters submit voting transactions.
Governance Actions Types:
In CIP-1694 describes 7 types of Governance Actions:
GA - New constitutional committee or Quorum size
GA - Protocol Parameter Changes
Any Ada holder can submit a governance action to the chain.
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