Over the last few years we have seen many crypto projects launch features allowing people to submit budget proposals to the network. It goes a little something like this. A person submits their proposal to the network, token holders vote on the proposal, if the proposal meets certain voting requirements the proposal is passed, if it does not meet the requirements the proposal is not passed. If the proposal is passed the person who submitted it will receive budget funds directly from the network on a monthly basis with the creation of each "super block". The proposer of the budget sets forth in his proposal; the monthly payouts, the length of time funding is required, and the specifics of what the funds will be used for.
The majority of the projects implementing budget features will run into some issues. There are some success stories for proposals that were passed on these networks but still no perfect solution exists. That could all be changing soon with the launch of DeVault. The team behind DeVault has a combined total of 15+ years experience in budget proposal systems and community governance. They come from DASH, PIVX, SMARTCASH and other projects which have implemented a budget system with some degree of success, but have failed to fully understand many factors that go into a healthy successful network. Some of the major factors include decentralization, immutability, fair launch and distribution, voter apathy and team leadership. Most if not all of these projects fall short when it comes to key factors of a healthy budget system.
DeVault comes closer than any other project. They state on their website, "We realized the only proper way to keep the project alive is to not have any single points of failure or authority, thus complete community governance was placed as the main focus." This is done by letting all token holders control the direction, authority and vision of the project, by allowing for fair distribution from the genesis block forward, and by creating software that is easy for just about anybody to use. Decentralized organizations will also exist along side independently funded budgets and can be paid from the budget system as well.
DeVault has not invented a new concept, but they have their eye on perfecting a key concept in the crypto industry. The team behind the project has the experience and tenacity to accomplish their goals. It will be a lot of fun watching this project to see where it could go. With so many scam projects out there it is a relief to come across something with a real team, real goals, and a growing community.
