LikeCoin Chain Proposal #18 - Change the voting period of governance proposals from 14 days to 7 days

Background

Since LikeCoin chain was first launched in Nov 15 2019, the process of voting a governance proposal is having a 14-day voting period once deposit requirement, which has a maximum of 14 days to be fulfilled, is met. The voting result of the proposal will be drawn when voting period ends. As a result, the shortest period for a proposal from being proposed to drawing a final result is 14 days.

Given that development pace of the block chain industry is getting faster and faster and the change of external environment is acute, a more responsive decision making process of the LikeCoin chain is necessary and essential.

While speeding up the timeline of a governance proposal, the deposit period will not be changed and be kept as 14 days, so as to leave rooms for adequate discussion if necessary.

Proposal

To change the voting period of a governance proposal from 14 days to 7 days.

This is a parameter change proposal. Parameter change proposals can be proposed by anyone and include changes to the code of this network. If this proposal is approved the underlying code will change.

Expected results

If the proposal is passed:

1. The decision process of LikeCoin chain will be more efficient and responsive.
2. Governance proposals can have voting results as fast as 7 days.