DAOstack – create decentralized organizations and manage them
In this article, we will talk about the principles of Daostack project's operation and its crowdfunding camping.
Review of the application field
The Daostack platform will be applied to manage decentralized organizations that use the smart contracts technology. First of all, I would like to note that the modern smart contracts imply that all the conditions of the network’s operation are programmed initially and the information cannot be changed.
Smart contracts are blockchain-based, thus eliminating the need to involve intermediaries in order to conduct any transactions. Information about users as well as their values are transferred directly between the two parties, leaving no space for the data leak.
With the Daostack project’s functional you can obtain an affordable and full set of tools needed to create the decentralized autonomous organizations and manage them.
Goal of Daostack project
As said above, the platform offers a wide range of tools used to create and manage decentralized systems. Merging into organized systems has always been used to achieve the goals in a faster and more successful way. Previously we’ve known only about the systems of a centralized type, which always have a single authority governing the processes within the network. Moreover, the creation of a centralized system is a process that may require not only a lot of time but also a lot of efforts and money to be spent. In order for the system to pay off and function as expected, it requires a sufficient amount of labour force and funds.
A well-known example of a centralized system is the Internet. No matter how effective and reliable this network may seem, there are a lot of inaccuracies and problems to be considered and solved. At the current stage of the technologies’ development, we have an opportunity to bring the advanced systems into play in order to introduce a more effective type of work. The modern solutions enable to solve many problems related to the systems’ operation. It concerns both the operation of all the systems in general and their components.
We have already mentioned that this platform will be focused on the decentralized autonomous systems that work with smart contracts. These systems have been acknowledged as effective and innovative ways to solve any problems. But still there is an important issue that needs to be solved. The thing is that these systems have a vulnerable spot preventing them from being positioned as advanced technologies. I am talking about the reliable management system of a decentralized type. And this project is going to solve it.
Basic examples of Daostack network operation
The Daostack platform represents an operating system, based on the Ethereum blockchain. With its help, any participant of the network can rapidly and conveniently manage any types of organizations. The set of the platform’s tools allows to optimize the collaboration processes within the network in order to solve the tasks much faster.
The Daostack platform may be used for the following purposes:
● To establish cooperation in order to achieve the desired result, i.e. when the company begins decentralized activities, oriented on the products manufacture or services provision.
● To manage digital assets and distribute the funds in a secure way. For example, you can organize the venture funds, participate in the collective investment or invest independently in, let’s say, real estate.
● By using the platform’s set of tools each participant will be able to conveniently manage the processes of the organization’s intellectual resources’ usage. It will allow to analyze and organize the work more effectively. An understandable example of the decentralized system’s supervising is a mobile application containing feedbacks on the hotels or the recreational locations.
In general, the platform's capabilities make it possible to provide management of any scale, while doing everything in a secure and reliable way.
Advantages of the Daostack network:
● Can be controlled by using the blockchain
● Involvement of reliable smart contracts
● The platform’s economy is built on tokens. It allows to work without conflicts, as the users will receive their individual remuneration via the blockchain, on time and without big commissions.
● Members of the network will be able to control the processes of the network’s development and influence the decisions during the voting.
Structure of Daostack project
The platform consists of a number of components, allowing to compose a single powerful and reliable organism. The basis of the project is an extensive library of smart contracts, based on the Ethereum blockchain. They can be used to create protocols of any type and to manage any decentralized autonomous system in the future.
There already exists a Genesis decentralized autonomous organization within the Daostack project. It will be used to test the possibilities of the network and also to provide the general management of the fund.
Economic model of Daostack project
By the way, the project's fund has already been formed during the crowdfunding camping. It is planned to issue 100 million of tokens in total. But tokens aren't the only type of digital currency existing within the network. Two types of digital currency are planned to be used and their functioning is interconnected in order to achieve high network performance indicators.
A concept of reputation will exist within the project. It will determine the value of the network participant’s opinion. You can earn the reputation by contributing to the network’s development. The higher is the reputation, the more valuable is the user’s opinion.
Tokens are used to stake on and to conduct the main transactions within the network. The coins can be also used to promote the created projects, to attract the attention of the Daostack ecosystem’s audience to a particular application. The creators will be rewarded in tokens for the successful developments within the platform.
Growth prospects of the platform
As we can see, this is a project which greatest value represents the community of users. Within its framework, every network member receives the right to influence the decisions related to the organization of all the project activities.
In general, the Daostack project represents an innovative solution for the decentralized autonomous systems’ management. With the help of the project’s functional, users will be able to solve problems of any scale and to provide the best working conditions for the projects being implemented. The higher are the achievements of the network’s user, the bigger remuneration he can receive. It will attract new developers and promote the system’s growth.
An experienced team of developers is standing behind the project, and they plan to further develop their product, providing all the participants with transparent, effective and fair working conditions
Author: saycryptohello, bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1336255
ETH wallet: 0xB83531c8A283B21f3c38295F8869F84B1543A36B