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SNS is short for a "service nervous system," allowing entrepreneurs and developers to create decentralized, tokenized governance systems for their dapps.
That's quite an innovative idea.
Like the NNS, the SNS includes a governance canister.
The governance canister stores voting neurons, consisting of staked tokens, and proposals for how the technology can evolve, which any neuron holder can propose.
Just as anyone in the world can participate in NNS governance by staking ICP in voting neurons, anyone will be able to join in SNS governance, which will autonomously control the operations and evolution of an associated dapp.
Also, SNS has a ledger canister that stores the utility token accounts and transactions.
It will help developers in Internet Computer to issue their project tokens. It's significant for project developers, especially DEX developers.
Finally, SNS will add rich and extensible functions such as token distribution, token auction, and token exchange cycles to SNS, which would evolve over NNS.
The advent of SNS is a small step for the Internet Computer ecosystem, but it is a big step for humankind on the road to decentralization.
SNS is short for a "service nervous system," allowing entrepreneurs and developers to create decentralized, tokenized governance systems for their dapps.
That's quite an innovative idea.
Like the NNS, the SNS includes a governance canister.
The governance canister stores voting neurons, consisting of staked tokens, and proposals for how the technology can evolve, which any neuron holder can propose.
Just as anyone in the world can participate in NNS governance by staking ICP in voting neurons, anyone will be able to join in SNS governance, which will autonomously control the operations and evolution of an associated dapp.
Also, SNS has a ledger canister that stores the utility token accounts and transactions.
It will help developers in Internet Computer to issue their project tokens. It's significant for project developers, especially DEX developers.
Finally, SNS will add rich and extensible functions such as token distribution, token auction, and token exchange cycles to SNS, which would evolve over NNS.
The advent of SNS is a small step for the Internet Computer ecosystem, but it is a big step for humankind on the road to decentralization.
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