Quorum
The minimum number of participants required to make a decision or validate an action.
In crypto systems, quorum appears in contexts like multisig wallets (e.g., 2-of-3 required signers), validator committees, or masternode votes. It ensures decisions aren’t made by a single party.
"A DAO proposal might pass only if a quorum of token-weighted votes is reached within the voting window."
Related Terms
Masternode
→Specialized servers on a blockchain network that perform advanced functions, require significant coin collateral, and receive rewards for their services.
Node
→A device that participates in a blockchain network, with roles varying from transaction validation to block creation.
Multi Signature
→A type of digital wallet that requires signatures from multiple private keys to authorize transactions.
Governance Token
→A token granting voting power or proposal rights in protocol governance, typically used by DAOs and DeFi platforms.
All terms and definitions may update as the Cryptionary improves.
