Governance is the process of people in a community:
Reach a consensus on the subjective issues of collective action, and these issues cannot be completely captured by software algorithms;
Implement the decisions they made;
Change the governance constitution itself by amending the law.
The blockchain based on EOS.IO software implements a governance process that effectively guides the existing influence of block producers. In the absence of a clear governance process, the previous blockchain relied on special, informal, and often controversial governance processes, leading to unpredictable results.
The blockchain based on EOS.IO software recognizes that power comes from token holders entrusting power to block producers. Block producers are given limited inspection rights to freeze accounts, update defective applications, and propose hard fork changes to the underlying protocol.
Embedded in EOS.IO software is to select block producers. Before making any changes to the blockchain, these block producers must approve the blockchain. If the block producers reject the changes that the token holders want, then they can be voted out. If the block producer does not have the permission of the token holder to make the change, all other non-productive full node validators (exchanges, etc.) will reject the change.