Quorum (Governance)

A quorum refers to the minimum number of members necessary to carry out official proceedings within a particular group. In the context of blockchain technology, quorum biasing suggests that a vote holds greater legitimacy when a larger number of voters participate, compared to a situation where only a few participate. This mechanism plays a crucial role in assessing the fairness of proposed governance parameters in blockchain-based systems, such as establishing the minimum number of tokens required for a vote to be considered valid. Generally, if a vote fails to meet the quorum requirement, it is automatically invalidated or cancelled.