Community Observation: 2019.11.05
DAO: Ready to Change Governance?
Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.
By 秋水不是诗人
2019 is a formative year for Decentralized Autonomous Organizations (DAOs). Various DAO projects have launched (for example MolochDAO and DxDAO) and they are focusing on certain use cases.
The general consensus is that the Bitcoin network is the first DAO. Miners and nodes reach consensus through the protocols written in codes, and the crucial factors (incentives, decentralization, decision-making) are all included.
After Bitcoin, Ethereum-based DAO projects such as The DAO and MakerDAO surfaced. These projects showed the world the advantages of DAO compared to traditional governance models. In DAOs, transparent, credible governance is achieved and no middleman is needed. DAOs operate based on smart contracts and the codes are open-source. If encryption is used, anonymity can be achieved, bringing more to the table.
I believe that with more and more use cases, DAO will seriously impact traditional governance and bring changes to the way societies operate.
About SimpleChain
The mission of SimpleChain is to simplify the blockchain for business.
SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to enable a variety of applications and use cases on blockchain. Sharding is also implemented to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
Built on VeraxChain, SimpleChain’s first sub-chain, Baoquan.com provides record keeping services which serves to keep records of online data and authenticate electronic evidence. In June 2018, Hangzhou Internet Court of China judged a case of copyright dispute based on data stored on Baoquan.com. For the first time in China, the legal effect of the electronic data stored on blockchain is recognized in the judicial system. (News link: https://www.coindesk.com/blockchain-can-legally-authenticate-evidence-chinese-judge-rules)
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— -SIPC Mining & Trading — -
Wallet-Chainbox (Chinese only at the moment): download available at www.simplechain.com
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Mining Pools
1. SimPool (Chinese only): www.simpool.vip
2. MATPool (Chinese only): www.matpool.io/
3. DXPool (English & Chinese): www.dxpool.com/
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