Web3Advanced
Timelock governance
A governance mechanism that delays execution of approved actions for a specified period.
PLAIN-ENGLISH DEFINITION
In more detail
A successful vote does not have to change the contract immediately. A timelock places an approved action in a queue before execution is allowed, giving people time to inspect it. Its practical protection depends on whether other administrators or emergency paths can bypass that same delay.
IN THE WILD
How you might use it
"The upgrade vote passed. It's queued in the timelock, so execution still has to wait."
Was this clear?
Got a way to make Timelock governance click?
Add your takeBy Crypto Dictionary · Published · Updated
Go to the source
Use the original reference to explore the details behind this entry.
Read the referenceAn original explanation with a reference to follow. Protocol details and community usage can evolve. Sources & standards