Ubit Governance and Development

Ubit is already a significantly decentralized platform and plans are in motion to achieve full community control over it in the future. Its governance is currently split among the following actors:

1) Network Validators. Ubit validators are entrusted with deciding whether to adopt Ubit improvement proposals (FIPs). Currently, every validator has one vote regardless of their share of the overall network stake but this is likely to change soon.

2) Ubit Foundation and the project team. Like most public blockchain projects at the initial stage of development, the development of the core network protocol and the Ubit treasury that mostly consists of the undistributed genesis UBIT supply (see the subsection "UBIT Supply and Current Distribution") are currently mostly managed by a foundation. For Ubit, this role is played by Gibraltar-incorporated company Ubit Limited.

Ubit Foundation employs the Ubit project team whose members' profiles can be found here.

The project team implements network protocol updates adopted by the validators, other protocol changes that do not require validator votes, maintains the full node software. It develops the mobile-centric infrastructure for creating and managing token communities on Ubit. It also works on boosting the adoption of the network through improving the Ubit tech stack, securing new partnerships and integrations, onboarding ecosystem projects and marketing the platform within the crypto space and beyond.

That said, since Ubit is a decentralized public blockchain platform, no permission of the project team is required for anyone who wishes to integrate with or develop on top of Ubit, including the development of the network and node software.

3) Ubit Assembly. See the Assembly page for more details.