Decentralized governance: the consensus of blocks
Dash is the first decentralized autonomous organization operating with a Sybil-tested decentralized governance and funding system. Decentralized governance by Blockchain (DGBB), referred to simply as the “treasury system”, is a means of reaching consensus on the proposed changes to the network and the development of Dash ecosystem finance. Ten percent of the block awards go to this “treasury” to pay for projects that benefit Dash. Treasury funding has been used to hire additional developers and other employees to fund conference attendance and to fund integrations with major exchanges and API providers.
This is how Dash stands, without the need for external funds, everything is created in the DASH network.
Each masternode operator receives one vote. Proposals are eligible for funding according to the following formula: (YES VOTES – NO VOTES)> (TOTAL NUMBER OF MASTERNODES * 0.1). If there are more proposals that meet this criterion than budget funds for the month, proposals with the highest net votes will be paid. Community interaction with proposal submitters is done through dash.org forums, or through community-driven websites such as DashCentral. These websites allow proposal submitters to submit several drafts and then press for community support before finally submitting their project to the network for a vote. After the sender has sufficient support, the network will automatically pay the necessary funds in the next super block, which occurs monthly.
Each operator masternode obtains a vote, by each masternode that they operate. Some get 1 vote (1 masternode), some get 70 votes (one operator, 70 masternodes). Dash works well with nodes. Responsibilities are attributed to the people who do the work, rather than elected or selected officials. People who greatly help the Dash network get more rewards.
“do-ocray” individuals choose roles and tasks for themselves and execute them. Responsibilities are attributed to the people who do the work, rather than elected or selected officials.
Governance and Financing
The funding system has experienced revenue growth. In September 2015, the treasury system provided $ 14,000 in funds per month. Due to increases in the value of Dash, as of May 2017 the treasury system provides more than $ 650,000 per month in financing. An example of decentralized government, which also has the treasury system that has created a positive feedback loop, through which additional development increases the value of Dash, which increases the amount of funding provided by the budget system.
It is impressive to see that the DASH network and the trust in a decentralized digital government are increasingly being strengthened, and it can be a milestone in the world of crypto-metadata of finance and sustainable economy totally consensuated without the need for totalitarian or authoritarian central governments.
Masternodes: The Governance of Dash
With increased confidence and consensus through network voting, many are already thinking of creating more master nodes to earn a percentage of all the mined blocks. If more nodes are created, the distribution must be fair and equal for all. Being more to share of the global percentage, it might be that it was not so interesting to disburse important capital for the creation of new nodes. Of course, everything depends on the supply-demand, leaving in the future a fixed percentage for all.
What is expected in the future is a balance of nodes that support and is the basis of the Dash network, adding nodes when power grows and is necessary, creating a sustainable economy that would pay the expenses of the servers and have net benefits.
Another novelty that is expected to be implemented in the portfolios of our computers is that each can deposit a certain amount of DASH, 10-20-30 … .etc .., same as a bank account, to encompass a complete node, that yes , they will not be able to touch if we want to receive a percentage of the reward, equal to the saved for the node. Removing the DASH can be done at any time. In this way many users of DASH portfolios will collaborate in the creation of these important nodes for the DASH cryptometric ecosystem and make it decentralized.
Undoubtedly, it is a clear example and a huge open governance project, a decentralized “new way of governing” that is possible and real in a digital world.
Author: Jordi Carrera
Original link: https://bitcoiner.today/en/dash-and-decentralized-governance-by-block-chain/