On old Twitter, community notes was simply a function of raising a flag for tweets that got ratio'd. This would open those tweets up for Community Notes users to submit a fact check. Then, the fact check with the highest upvotes gets displayed as the default one.
Now? Not sure. Elon is a sneaky fucker. But I do think it could be implemented as a simple comment queue that admins and moderators could set user roles to help with.
Pretty much why we unplugged all of ours. I just need to set a timer, don't tell me extra shit!