xDAC ICO Review
What is xDAC?
xDAC is an entity created and operated on decentralized digital ledger by one or multiple human or Autonomous Agent owners or a mixture of both that share a common purpose and unites in order to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Decentralized company owns capital and other, primary digital, assets. It can also collaborate with other partners or businesses inside and outside of decentralized network – making it a highly versatile entity. Such a company exists as long as it is able to self-update its most basic components and continue being recognized as the same entity or until it decides to terminate its existence. xDAC companies can use an xDAC extension for better recognition in forms: Company name, “xDAC”, “Xdac” or “xdac”.
EOS is a dynamic blockchain with a large contingency of developers. With the introduction of WebAssembly, developers are allowed to use C++ with smart contracts to receive higher performance of native code. C++ has already extended a number of libraries with tested and proven code available to developers. This limits the margin of error and can be used in smart contracts. EOS lays reasonable foundation for running smart contracts that are managed by xDAC Platform functions. Scalability in a secure blockchain environment has become a hot topic in the industry and one that must be addressed. EOS is scaled to perform tens of thousands of transactions per second while other blockchains are seemingly congested with smaller projects. Nonetheless, the xDAC Platform developer team is willing to adopt a hybrid solution, such as side chain settlements, should in fact network congestion on the public EOS network pose a significant problem.
xDAC Platform is the public’s smart contracts layer which provides an opensourced implementation of the key components creating not only an environment but the governance for decentralized applications (DApps) and Autonomous Agents to be built on. The xDAC platform will be generating revenue from fees that will be used to reward the most productive xDACs based on their PoW performance rating to incentivize their productivity on xDAC platform.xDAC Liability Fund
An xDAC Liability Fund is coverage in case the xDAC’s debts or liabilities exceed a certain debt-to-equity ratio. It is calculated as a percentage of received payments stored in a separate wallet until certain threshold is reached. Liability fund is not accessible to owners during the company’s existence and is available for transfer 90 days after the company is ceased or transferred to new owner. Default settings on percentage and limits will be specified later; however it can be changed by xDAC owners and it is entirely in their power to establish a liability fund limit based on their business type. When setting up liability fund it is advised to set higher limit to avoid company freeze when small disputes are initiated.
For example, if xDAC’s limit is set to 100 XDAC tokens and your customer disputes a transaction equal to 150 XDAC tokens, xDAC will be frozen until the dispute is resolved. After a company is acquired, liquidated, or closed, a Liability Fund will become a Retirement Fund and will be distributed between owners. This will be based on their respective stake in the company.
XDAC token is a platform currency representing value and wealth in the decentralized economy used for exchange of values between xDAC companies, employees, customers and other third-party entities. The token will be used on the xDAC Platform for dispute resolutions, pay team members, accept payments for services, profit distribution, and incentivize development. XDAC tokens are ERC-20-compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract. Ethereum tokens distributed in the ICO phase are pre-existing tokens and will be migrated to another protocol on the EOS platform.
- Oskar Duris
- Founder/Project Lead
- Eric Stone
- Technical Lead
- Dmytro Stepanenko
- Blockchain Developer
- QA Engineer
- Michael Marquis
- Communication Lead
Luis Brecci, MBA, LL.M.
- Luis Brecci, MBA, LL.M.
- Conston Taylor
Apr 2018 — Aug 2018: Token Distribution: ICO Round & Dev (Distribution of remaining tokens. Integration identity verification, governance. Development of xDAC client — Company and Valet)
Aug — Oct 2018: Development & Testing (Development of xDAC Core functions i.e. Voting, Ratings, Client functions, Team and Tasks)
Nov 2018: Alpha Release & Testing (Alpha version release of xDAC Platform and xDAC Client)
Jan 2019: Beta Release & Testing (Beta version release of xDAC Platform and xDAC Client)
- bitcointalk name: minhprok5a
- Link to Bct Profile: https://bitcointalk.org/index.php?action=profile;u=1289138
- Address ETH: 0x2414fd4a40E5893A42DE60BEb200ccc774B45481