Cryptocurrency and blockchain functioning is so much popular nowadays and it is gaining its popularity day by day. It is becoming popular in terms of the usage of physical currency; people are keen to use virtual currencies. It can be transacted to anywhere. To manage the system, it is systemized by an operating system named as DAOstack.
It is a collective intelligence that has begun with the form of human association. It has captured by the imagination of the best minds in the blockchain. It has come from DAO or Decentralized Autonomous Organizations which is a blockchain space for a central missing element for the solid framework. DAO has an impact on every territory of life that ill jumpstart into the evolution of the society.
It is another internet revolution that adds values to the business for whatever the internet has been done for the media of information. It enables the unprecedented levels of the crowd and it coordinates by the elimination issued by the fault and trust. It will consequently form the technological basis for the Decentralized Autonomous Organization or DAOs. The scalable, self-organizing cooperation of DAO is operated by the smart contracts on the blockchain and most of the people have faith on the hold of the promise for the future of business and work. Though a number of traction in the blockchain community is subjected to successful governance system, still the operational basis for DAO is missing.
The structure of the blockchain governance is divided into two different types based on the actions like what are the do’s and what are the don’ts. The do’s are the mainly the logical and operational rules based on the agency of functionalities. This can be triggered for the better output like if a majority of reputation holders in a DAO is approved as the issuance for newer tokens. The token issuance will automatically trigger the DAO’s smart contract for the operational logics like governance schemes.
The don’ts are like restrictions and limitations that should absolutely be respected by an agency. Such regulations cannot be violated even by any approved schemes. This will only operate as long as some total number of tokens issued in lesser than a million. These limitations are known as global constraints which can be designed for upgrading some specific conditions. It collectively donates the government schemes and global constraints by some elements that belong to some agencies for the entire governance protocol. It includes the change in the protocol for unambiguous definition.
The global constraints are specific in some conditions to be attached to a particular agency of DAO. It will be limited by some functionality followed by general rules for any sort of operation that goes through the specific agency. It should comply with a list of constraints and it must be configured by the organization.
Despite the consequences for the list of approved agencies, none of the schemes enables the support for certain functionality into the organization. This would require the confirmation by the single global constraints that might be adopted by DAOs agencies including:
The global constraints of an organization can be permanent or modified. This will define the conditions of the constraints to be updated by 75% of the decision of token holders for a specific scheme.
Website : https://daostack.io/
Whitepaper : https://daostack.io/wp/DAOstack-White-Paper-en.pdf
My ETH : 0x59EA8cCA48dd59b63a585508d31bAF95a95BDB73
