Requirements for Self-Sustainable Blockchain, Part 6
[About dApp EcoSystem Activation Principles]
In parts 1–5, I explained the concept of self-sustainability, the reasons for its necessity, the philosophy of EcoVerse’s ecosystem design, and the technology of AI-DPoC, the first of EcoVerse’s two key pillars. In part 6, I will discuss CONFIRM™ (COmprehensive ‘N Flexible Reward Model), the second of the two key pillars supporting EcoVerse.
As shown in the full picture of the EcoVerse platform below, CONFIRM™ is a reference model used for designing and applying dApps within the mainnet and dApp World.
AI-DPoC, the mainnet’s core protocol, as discussed in parts 4 and 5
- Unfair wealth distribution
- Poor performance
- Abstraction of decentralized ideology
CONFIRM™ not only solves problems, but is a necessary development strategy for continued growth. It will help achieve the following three goals:
- Establish an environment for daily use of cryptocurrency
- Mutual cooperation and balanced growth for dApp ecosystem
- Implementation of self-sustaining governance mechanisms
In other words, CONFIRM™ is a methodology for designing an Incentive Compatable-based mechanism. As the EcoVerse Project seeks to implement the Ubuntu “win-win” economy, this will help the dApp ecosystem achieve long-term growth.
2. EcoVerse™ dApp Ecosystem Activation Strategy
EcoVerse™ is different from the current mainnets and business models. Other mainnets, such as Ethereum, have a fee-based business model that covers its operating costs by collecting computing resource usage fees from dApps. As a result, users have to bear the heavy cost of Gas fees from each transaction. EOS has criticized this issue with Ethereum, and set up a policy that does not accept fees beyond the initial entry fee. Unfortunately though, its initial entry fee for dApps is not affordable for small start-ups.
EcoVerse™ does not collect transaction fees, nor does it receive any initial entry fees. Instead, various support policies are implemented to help the business succeed. For example, a business model is applied where the loyalty base receives a portion of revenue from dApps’s which have become successful. As such, the EcoVerse™ main-net operates a policy that actively supports dApp businesses on the premise that the dApp’s success will bring about further activation and growth of the ecosystem.
2.1. EcoVerse™ Ecosystem Activation Strategy
First of all, unlike other ecosystems, which have no particular way to support dApp success, EcoVerse™’s strategy to build a dApp ecosystem is by providing the best business environment and support for the success of each dApp. That is, most mainnet platforms are jungles where each dApp must fend for itself because typical mainnets, Ethereum included, define their roles in support of the technology environment rather than the activation of individual dApps.
However, EcoVerse™ provides not only the best performance based on state-of-the-art AI-DPoC technology, as described in parts 4 and 5, but the dApp World also offers promotional strategy to support dApps from seed and development stage to full maturity. The EcoVerse™ ecosystem activation strategy consists of four steps with optimal support tools and policies, as shown in the figure below:
Step 1, Discovery: In the discovery phase, while the probability of a dApp’s success is the most important factor, the dApp’s contribution to the overall growth of the ecosystem is also important. The CONFIRM™ KSF analysis model is utilized here as a decision support tool for selection.
Step 2, Business Model Design: After determining the business name with the CONFIRM™ KSF model, Step 2 provides a business model design tool.
Step 3, Incentive Model Design: This is a key part of CONFIRM™, where, depending on the qualities of each dApp, an analysis of which incentive models will provide the most user satisfaction takes place, resulting in an Adaptive Incentive System.
Step 4, Business Support Policy: Here, a variety of support measures are offered to support dApps which have built their basic business framework through these tools. Support policies will provide all-out support appropriate to the nature of the dApp including development funding, dApp tech support, a business collaboration matching platform, business incubation, links to external investment institutes, ICO, IEO support, etc.
Additionally, while there is not a profit model for dApps, public services such as investigative journalism, which are deemed essential for a symbiotic economy, are able to create a healthy and self-sustainable ecosystem by providing a strong foundation on which to grow.
Part 7 of this series will explain the operational process of and the basic principles of CONFIRM™, Spiral Dynamics theory and AQAL.
This article has been translated from its original Korean text, viewable on Steemit: https://steemit.com/ecoverse/@nicklee002/6