Mark Mason
Well-known member
How Dash’s Free Market Approach Won the Governance Race
The top cryptocurrency project with a built-in governance system, Dash has for years stood as the gold standard in this field. As many new projects attempt to solve this great puzzle of how to run a decentralized autonomous organization, and other non-DAO coins run into consensus problems time and again, the first DAO begins to look a little minimalist by structural comparison. Dash’s approach hasn’t changed in years, but this is by design. A free market approach allows Dash to grow into whatever mold works the best.
Dash’s governance mechanism is both simple and inadequate
In essence, Dash’s famed governance system does one thing and one thing only: approves budget payouts. A five Dash fee lets you submit a proposal, which could simply contain one word and no additional information, with a desired payout amount, which could only cover the submission fee. A net 10% of masternodes have to vote for it in order for the proposal to pass. That’s it. That’s the entirety of the governance system. It’s elegantly simple, especially when considering just how robust of a DAO it has enabled.
Read more: https://www.dashforcenews.com/how-dashs-free-market-approach-won-the-governance-race/
The top cryptocurrency project with a built-in governance system, Dash has for years stood as the gold standard in this field. As many new projects attempt to solve this great puzzle of how to run a decentralized autonomous organization, and other non-DAO coins run into consensus problems time and again, the first DAO begins to look a little minimalist by structural comparison. Dash’s approach hasn’t changed in years, but this is by design. A free market approach allows Dash to grow into whatever mold works the best.
Dash’s governance mechanism is both simple and inadequate
In essence, Dash’s famed governance system does one thing and one thing only: approves budget payouts. A five Dash fee lets you submit a proposal, which could simply contain one word and no additional information, with a desired payout amount, which could only cover the submission fee. A net 10% of masternodes have to vote for it in order for the proposal to pass. That’s it. That’s the entirety of the governance system. It’s elegantly simple, especially when considering just how robust of a DAO it has enabled.
Read more: https://www.dashforcenews.com/how-dashs-free-market-approach-won-the-governance-race/