What type of governance model does Hedera use to ensure security and decentralization of its network and services?

Hedera uses a unique governance model to ensure the security and decentralization of its network and services.

This model is based on a Council of 39 organizations, each of which is responsible for validating transactions and maintaining the network. The Council is made up of global organizations from a variety of industries, including technology, finance, government, and academia. The Council is responsible for making decisions about the network’s future direction and ensuring that it remains secure and decentralized.

They are also responsible for setting fees for transactions on the network, approving new applications, and ensuring that all transactions are valid. The Council is elected by Hedera token holders who vote on proposed changes to the network. Token holders can also propose new applications or features to be added to the network.

All proposals must be approved by a majority of token holders before they can be implemented. In addition to the Council, Hedera also has an Advisory Board made up of industry experts who provide guidance on technical matters related to the network. The Advisory Board does not have any decision-making power but provides valuable input into how the network should be managed and developed in order to ensure its long-term success.

Overall, Hedera’s governance model ensures that its network remains secure and decentralized while allowing token holders to have a say in how it is managed and developed in the future.