Participate in governance by voting
FIO, like EOSIO, uses a delegated proof-of-stake (DPoS) architecture. This is different than proof-of-work chains like BTC and ETH.
In FIOs DPoS chain, there are 21 block producers who control the chain. It requires approval by 2/3 + 1 of the 21 BPs (so, 15 BPs) to update the chain. These block producers are voted upon by FIO Token holders who either proxy their vote or vote directly for a set of Block Producers. Thus, token holders govern the chain through their voting for block producers.
So, it is important to vote or proxy your vote if you are a FIO Token holder.
You can participate in governance by voting in a few different ways:
- Vote directly
- Vote by proxy, usually through your wallet
- Register as a proxy yourself, and vote using others’ proxy