Fractally Newsletter — 1st Edition
2022 Bits and Bytes Recap of Q1 and Q2
“The secret of change is to focus all of your energy, not on fighting the old, but building on the new.“ — Socrates (470–399 BC), Philosopher
The year 2022 so far required much wisdom, bravery, and strength for the ƒractally team as we; rebranded, released our White Paper, launched a new website, hosted another Eden election, participate in the first community-launched Fractal named “Genesis,” initiated experiments in new Blockchain-focused database structures and continued to spread the message of fractal governance as the foundational answer to next-generation DAO governance, web3, and beyond.
Our 2022 focus for Q1 and Q2 was a continuous iterative cycle of researching, releasing, and gathering feedback. This phase resulted in insightful data which led us to new developments and pivotal considerations related to DAO ownership status, regulatory climates, ongoing checks & balances of power in a DAO, as well as, sustainable governance and blockchain scalability.
We discovered new opportunities for technological innovation in each of these areas and are thrilled to incorporate them all in an easy to use App and protocol that aims to put the user and developer first.
Global Appearances
Daniel Larimer at C.O.D.E. Conference in Korea
Our Founder Daniel Larimer is speaking about ƒractally and “The New World of Web3 and DAO” in Session 2 at CODE Conference 2022 — The Great Response in Korea.
This event brings together the experiences and insights of visionaries and innovators, founders and adventurers, digital experts, and industry leaders who are leading innovation. The focus of this conference is, “The world that C.O.D.E. changes, the great response, the new change, and adaptation…”
할 수 있어요!
Fractally in Brisbane, Australia
Spreading ƒractally worldwide is not only the goal of the Genesis ƒractal, our team has been actively carrying this torch as well. John Williamson presented ƒractally at the crypto meetup in Brisbane, Australia, which meets regularly with the goal to create a token-permissioned community.
First ƒractal — Meet the “Genesis ƒractal”
Go ƒractally
The Genesis Fractal is the first organic ƒractal of ƒractally. This grassroots effort kicked off only a few days after the Fractally Whitepaper release and is spearheaded by our passionate community. For now, the process has been mostly manual and temporarily utilizes the Hive blockchain for documenting consensus, contribution levels, ℝespect allocations, and the Fractally contributor agreement.
Our community site goFractally.com is currently offering a social network experience for the interim while our team finalizes the Fractally UI and backend code.
More on the ƒractally UI in this Newsletter!
Genesis ƒractal Statistics
Check out the Genesis Fractal Dashboard created by Genesis ƒractal member Matt Langston and read his detailed write-up on the statistics of the ƒractal in the first 12 weeks and beyond.
Weekly ℝespect
Join the discussion and start earning ℝespect weekly at our Genesis Consensus meetings every Saturday! The opening discussion starts at 3:30 pm UTC, with official Consensus rounds starting 30 mins later.
Check out the ƒractally contributor agreement and feel free to reach out to our Hosts, Gregory or Joshua at goƒractally if you have any questions about the process.
Fractally’s Groundbreaking New Database Outperforms LMBDX / EOS / Hive / Chainbase / RocksDB
Our Blockchain Database research quickly led our Founder into development. After a month of nothing but coding, here are his first database testing results.
“Techniques used by traditional databases to accelerate write performance via multi-threading result in non-determinism and are not suited for blockchains. This greatly limits the performance that can be extracted from traditional databases and makes their write benchmarks and parallel read benchmarks irrelevant for understanding the sequential read-modify-write performance access pattern required by all smart contract platforms I am aware of…”
— Daniel Larimer on New Blockchain Database Innovation
READ MORE
“…with this new database structure, our upcoming blockchain for fractally.com should be well-positioned to enable a more decentralized, scalable, cost-effective, and simplified infrastructure for developing the future of Web 3 and fractal governance.” — Daniel Larimer, Founder of ƒractally
ƒractally App UI/UX Sneak Peeks
The ƒractally UX and frontend development teams diligently work behind the scenes. From ideation to implementation, they’re putting together an intuitive in-meeting video conferencing and ranking experience for our community. (And we’re pretty excited about it!)
Check out the ƒractally Consensus UI demo teaser recently shared with the Genesis ƒractal below.
Be on the lookout for more ƒractally App UI demos in the near future.
ICYMI — In Case You Missed It…
Check out the ƒractally blog to access our Knowledgebase, below are a few of our latest & most popular articles.
LEARN: What is the Legal Standing of a DAO?
“Since then the concept of DAO’s has gone viral and people around the world are starting DAOs powered by smart contract platforms. In the process, many have failed and people have started to file lawsuits under various legal theories. This uncertainty around the legal standing of DAOs may discourage people from…” READ MORE
LEARN: What is Fractal Democracy?
“Fractal Democracy enables a group of people to govern themselves without being captured by hidden, non-democratic, power structures. It does not make any ideological claims. Winston Churchill once said that “democracy is the worst form of government — except for all the others that have been tried”, but what if there are a multitude of ways to measure the will of the people…”
READ MORE
DISCOVER: Fractally — The Next Generation of DAOs
“Decentralized Autonomous Organizations powered by fractal governance invert the pyramid of power and direct value back to those who produce it. These DAOs are the ideal way to organize people to produce goods and services that benefit a community and are otherwise difficult to produce by private, autocratic, businesses…ƒractally utilizes a revolutionary process to tap the wisdom of the crowds and decentralize power...” READ MORE
LEARN: What is a DAO?
“We can therefore say that a DAO is pure information, the value of which is judged by the market. A DAO only depends on the freedom of speech and the open source software to deterministically interpret that speech into a shared consensus…” READ MORE
LEARN: What is a Smart Contract?
“A smart contract is computer code that deterministically executes an algorithm to determine property rights according to the signed statements of individuals. They enable a community to efficiently and unambiguously reach a shared consensus on who owns what…ƒractally utilizes smart contracts to govern decentralized autonomous communities and encourages everyone to understand the paradigm shift created when a community builds their governance and dispute resolution on top of the theory of smart contracts…” READ MORE
🧐 Fractally Team Thoughts 🤔
Our Team includes brilliant minds that enjoy thinking deeply about matters technically, philosophically, economically, and politically. As we design thoughtful solutions for a more resilient and sustainable future, we tend to enjoy sharing along the way. Here are some articles by Fractally Teammates.
ENJOY: Proof of Nothing by James Mart
“People often imagine that the basis for consensus mechanisms is an objective proof that some work was done, or that some objective amount of value is at stake, but this is not the case…” READ MORE
ENJOY: Mutually Benefitting from Misaligned Goals by James Mart
“No visionary has a fully comprehensive description for what they think the future should look like, as there’s always some ambiguity in their goals. They also may not know the optimal set of steps to realize that vision. But if one wants to maximize the probability that one’s goals are realized, one ought to…”
READ MORE
ENJOY: Rethinking Transactions as Proof of Stake (TaPoS) by Daniel Larimer
“TaPoS is a technique for securing a network by preventing transactions from being applied to forks other than the one seen by the user at the time they signed the transaction. This protects a network against long-range reorganizations and protects the user from signing a transaction based upon a false…For these reasons, I believe that TaPoS should be a feature of every blockchain regardless of the consensus algorithm used.” READ MORE
CONSIDER: Fractally White Paper Addendum 1 by Daniel Larimer
“…A community can then dynamically adjust how it issues shares in the inflation across weekly meetings, teams, block producers, social media content, liquidity rewards, and staking without impacting the bigger picture of a stable and predictable currency supply.” READ MORE
Watch the Keynote presentation of our White Paper by our Founder
Parting Thoughts
Our mission is to create free market solutions that secure life, liberty, and property for all. We believe the governance of public goods and services is best placed in the hands of those served. Visions and values should be derived from the community, and not proxied to the State. Incentives should be available to all and designed to ensure the sustainability of the public good as well as to encourage its optimal success. We achieve this as we arrive at consensus on the value of our contributions to the community. We exist to serve communities seeking solutions that embody radical transparency coupled with a shared incentive structure.
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