XEC uses Avalanche consensus and Nakamoto Consensus. Using both guarantees instant finalization in almost seconds and security through SHA256 POW.
Here, the protocol developers have all control and dont take into account any other opinion than theirs. So it is a kind of monarchy.
Here devs are paid the same way miners are paid .. by block reward and transaction fees. They share incentives.
this guarantees protocol developers create products of quality for their community. But also little to no competition to this government in terms of product development as well.
