The initial period of blockchain development was characterized by a very strong difference of opinion regarding its future use. Many argued that its scope is fairly narrow and developers should not try to use it everywhere. However, everything went another way. The number of diverse decentralized projects and applications is growing every day and many of them are very successful and popular among the growing blockchain community. This technology gives high hopes for the development of our future, but there are problems that significantly slow down its approach. The main thing is the complexity of the team organization, taking into account the subsequent scalability and the invariability of the overall goal in the future. Also, the system of vote distribution, which is based on the number of assets and financial investments, is already slightly outdated, and most importantly, it is often unfair. The solution will significantly increase the pace of development and will attract both new investors and developers. So let's take a closer look at the decision of this task.
Perhaps the best option is the DAOstack . What is it? This Decentralized Autonomous Organization, which has no so-called "ruling elite". You won’t have the boss or board of directors. Thanks to the blockchain technology, managers will be replaced by smart contracts, on which an autonomous system will be built. An organization can have no hierarchy at all, and its structure will be built on self-management and the mandatory implementation of all "rules and laws" (pre-registered and agreed upon algorithms). The DAOstack has a high level of safety thanks to the blockchain. A similar system has been used since 2016 and during this time has proved to be the best. And now let's look directly at the platform that will make the creation or joining the DAO accessible to everyone.
DAOstack isn’t just a decentralized platform, but an entire operating system that will allow implementing a new type of associations. Decentralized Autonomous Organizations (or simply DAO, which is the basis of the project title) will unite specialists on a voluntary basis under the guidance of smart contracts. These contracts will perform regulatory functions, the task execution algorithm, management, etc. Simply put, it will be a constitution that all participants will be required to perform impeccably. The system will be built on the Arc framework, which will also be the environment for creating new Dapps.
The main distinguishing feature and, perhaps, the main advantage of the platform is its form of collective decision-making. There won’t be traditional democracy and benefits based on the number of shares, instead, a more perfect and fair Meritocracy system will be implemented. So, the weight of the voice of each member of the autonomous community will be determined on the basis of its rating and the previously obtained reputation. Now it isn’t enough to have a large capital and the 51% of stakes to hold the priority. Reputation can’t be bought or sold, and it will be appropriated on the basis of collective voting for the proposal.
There is another feature that deserves a separate mention - the Calm Final. The proposal has a limited voting period; however, if on the last day (or another previously agreed period of time) the initiative abruptly passes to the other party, the voting will be automatically extended for another day and will be closed only if it remains unchanged during the day. This function is introduced to avoid mass attacks when the result of the voting is obvious.
The GEN token will be used for the financial functioning of the platform. The distribution is quite simple: 40% for sale, 40% for the development and operation of the project, 10% for the future development and 10% for the team members. The total number of tokens is 60 million. You can take part in Crowdsale from the 8th of March to the 8th of June. However, please note that agrees with the KYC principle, all investors will have to undergo identification.
Platform developers take an active part in the promotion of the project and give high hopes that this project isn’t another scam or fraud. Decentralized organizations, which will be created on the basis of the framework, will raise the blockchain to a new level and make a big step to the future. The work of people, united by a common goal and an equitable distribution of votes, will definitely be much more productive and qualitative.
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Authored by: Malabarka (@Precious_ship)