A toolkit that will enable developers to effectively create implementable Decentralized Applications (DApps) is a pressing need and determinant for the next phase of development that will sweep through the blockchain ecosystem.
Global governance systems are growing in complexity as organizational challenges become more complicated. Riding on top of the provisions of the internet, organizations have imbibed the culture of real-time information exchange on a worldwide scale. However, this basic connectivity afforded by the internet lacks the economic means for general-purpose coordination and global peer-production.
The necessity of governance platform
It is clear that the collaboration atmosphere is becoming more pronounced, especially with the milestone achievements of blockchain technology. The open-source nature of this technology makes it possible for thousands of creators to jointly produce decentralized applications (DApps). However, going beyond just collaboration, other administrative and governance issues must be well implemented in other to achieve a healthy operational environment.
The introduction of the Decentralized Autonomous Organization (DAO) by Ethereum in 2016 marked the beginning of an all-encompassing decentralized governance system. However, barely few months after creation the DAO was exploited, hence encountering some significant setback. Ever since, a lot of water has gone under the bridge, and numerous advancements have been made in the blockchain industry as a whole. Such advancements include the creation of new products and the improvement of existing ones.
From a general perspective, DAOs are open, self-organized collectives coordinated by economic incentives and self-executing code, cooperating around shared goals. Powered by the network effect, DAOs provide a revenue model and incentive for the production of open, shareable resources (such as open-source code and a music file). With the creation of more open resources, the DAO will be able to scale indefinitely while keeping its agility and coherence, and in many cases outcompete existing corporate structures.
A complete DAO creation toolkit
In other to facilitate the robust implementation of the DAO proper, DAOstack brings together in one place numerous key components. Therefore, DAOstack now provides an ideal platform that translates the lingering theoretical governance postulations to real-life implementable solutions. Unlike other corporate governance systems, the internal elements of DAOstack set it apart on a different level of efficiency and scalability. Such peculiar elements include:
- A decentralized governance that is based on Ethereum smart contracts, which enables faultless execution of crowd decisions.
- A Crypto-economic incentive design at the individual level that empowers frictionless cooperation at the collective level.
- The possibility of an effective decision-making with edge decisions guaranteed to be coherent with the will of the greater majority.
A completely scalable platform
Such qualities as mentioned above form the basis of building DAOs with capacities to manage most of today’s blockchain companies that usually start out with millions of assets and thousands of community members.
In addition, the operating system is supported by the Arc framework, which represents an evolutionary framework for scalable governance in an adaptive, modular and upgradeablee manner.
Blockchain technology is striving towards mainstream adoption and finding real use case application. DOAstack provides the perfect tools for thousands of open-source creators to jointly produce decentralized applications (DApps), while distributing individual ownership of the product to contributors of value.