DAOstack: From Concept to Reality
Flawed System of Collaboration
Man had tried to establish an incorruptible form of organizations since time immemorials—and failed miserably.
The primary reason for our failure to establish such an organization is because the system we are using to collaborate is flawed from the very start.
So if we are to use such a flawed system of collaboration to establish an organization; then wouldn't that organization be flawed itself? The same principle is also applicable to government. The reason that the traditional system of collaboration is flawed is because we usually choose a person or a small group of people to led and make decisions for us.
This by itself is not wrong; but a person is easily susceptible to bribes and coercion. History itself had proven this. How many empires, kingdom, country, and organizations had fallen because of corruption? Uncountable.
In order to established a system of collaboration that can stand the test of time, we needed a protocol or a system that is not prone to corruption, and is open. Fortunately, the advent of the blockchain provides us with such opportunity—the DAOs.
Decentralized Autonomous Organizations (DAO)
As the name implies, the DAOs are "autonomous" or self-executing code, cooperating around shared goals. Meaning, it was a system coded to run by itself whose purpose is to establish collaboration on a scale.
DAO is a meshed networks of smart organizations, which aims to build a scaled decentralized collaboration and economy. Powered by the blockchain technology, it incentivize the production of open-sourced and shareable resources—like open-sourced codes, applications, media files, etc,.
An advantage of DAO would be that as long as open-sourced resources are produced; DAO can scale indefinitely while maintaining agility and coherrence. In many cases DAO can easily outcompete well-established corporate structures
Although a very promising technology that can potentially replace the established system of collaboration, DAO still remain as a concept—an abstract idea. That's because decentralization poses major challenges that has yet to be resolved: inefficiency and unscalability.
Imagine this...
If you allow all the employers and employee of a company to voice out opinions and make decisions. Wouldn't it be too noisy and disorganized? To resolve this, we need an operating system for DAO. An operating system that can take full advantage to the concept while being immune to corruption at the same time—like DAOstack...
Why DAOstack?
Known as an operating system for DAOs: DAOstack aims to buid a collective intelligence where human can cooperate their sense-making decision, choice-making decision and their actions. The whole idea of DAOstack is to established governance that is decentralized, incorruptible and open.
Establishing a collaborative economy is another aim of DAOstack. An economy where hundreds of million of people are rewarded depending on their contributions. A decentralized economy where no one person or group holds disproportionate amount of power. And where everyone is incentivized to act in alignment with the common good.
DAOstack is powered by the Ethereum (ETH) blockchain. The technogy allows for faultless crowd decisions and smooth cooperations. As a platform, DAOstack includes modular smart contract framework (Arc), a friendly JavaScript developer
environment (Arc.js), and an intuitive user interface (Alchemy).
With the help of this ground-breaking technology, anyone can easily create, or participate in a decentralized organizations without prior knowledge or experience.
The Arc Framework
The Arc is a framework of modular library for smart contracts. It is implemented on the Ethereum (ETH) blockchain as a representing modules. It can be added, combined, edited or even removed. This is the reason why the Arc is also known as the Wordpress for DAOs.
Another advantage of the Arc is that its modules don't need to be redeployed on the blockchain after editing; thus saving storage and operation cost, while enhancing security in the process.
The Arc.js
Every good framework needs a good API to take full advantage of its capability. In Arc's case, its the Arc.js. The Arc.js is a user friendly JavaScript library that allows front-end developers to easily create applications for DAOstack.
What's more they can use Arc.js without need to be familiar with Solidity or the blockchain in particular.
The Arc.Hive
The dApps develop using the Arc.js will only be useful if it can effectively communicate on the DAOstack platform. For this purpose the Arc.Hive is needed.
Arc.Hive is a registry that contains all the data of dApps built upon DAOstack. This allows seamless communication and networking across the platform.
The Alchemy
Alchemy is the foremost application built upon DAOstack—an intuitive user interface for budgeting and resource allocation for decentralized organizations.
Alchemy allows anyone to create DAOs easily, invite others in a hub of decision-making and talent-sharing. And, even allow the creation of ERC20 crypto-token.
The above are just Alchemy's most basic functions. In the future, Alchemy will be more customizable and will offer more functions.
The GEN Token and Holographic Consensus
DAOstack governance templates is seperated to two seperate currencies. The GEN token refers to monetary wealth that is fungible and transferable. The other one is the voting power or the reputation, that is non-transferable, but can be used to pass or decline proposals. Also, one cannot buy voting power or but votes with GEN.
The GEN is DAOstack's attention token, and is use as "stakes" for or against proposals. For example: if a stake holder stake "for" a certain proposal and that proposal is passed by a reputation-holder, then the stake-holder will gain more GEN. But if the proposal fails to pass, then he/she will lose GEN. The same thing is also applicable if you stake "against" a proposal.
This staking system amounts to a prediction market,—the exact opposite of the voting protocol. It is also the heart of the "Holographic Consensus". The template is made this way to make sure that only proposals that are beneficial to the DAOstack community and ecosystem will pass.
This is DAOstack's answer to resilience and scability. Ensuring that the DAOs remains incorruptible.
Afterthoughts
Mending a flawed system of governance is not easy but the concept of DAOs make this approach a possibilty. Though just a concept for now, DAOstack is already taking the right step to make this concept a reality.
As an individual who is sick of corruption, the DAO is like the legendary panacea of the gods, and DAOstack's the hero who took the panacea from the gods and gave it to the mortals. All in all, I'm really excited about DAOstack and I looked forward how it affect centralized governance as whole.
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