The importance of governance is understated in blockchains and their projects/protocols. Namely the set of processes that platforms utilize to perform decision-making and agree upon the direction in which they wish to orientate and evolve towards.
Consensus, Plurality Voting and Decision Making: A Comprehensive Primer
Occamâs razor, also known as the principle of parsimony, is a problem-solving heuristic that states âentities should not be multiplied beyond necessityâ. It advocates that when presented with competing hypotheses, you should select the one with fewer parameters or fewest assumptions. It is not a rule for choosing between those making different predictions, but a rule for those competing for the same prediction.