So, guys, another day another good news for the Steemit Community. As you know, I try to get involved only in worthy projects. Luckily for me, I do not have to look too much, I believe in the law of attraction, and as crazy as it may sounds I come across the most talented people almost accidentally.
This was the case for SmartSteem, Valid, SmartContainers, and is the same for this project which I will introduce to you.
I am talking about DivisionX. In this case, I am more helping them to get the attention they deserve. It is a community driven project with as main only goal; to make the Cryptospace a safer environment for everyone.
Instead of spamming you with my interpretation of what DivisionX is I will quote some of their Medium article on the concept of "Communal Validation" to then add my own understanding of the given concept.
On their Medium post, Samuel JJ Gosling states;
Communal Validation is defined as a form of peer production that is based on equipotential participation i.e. the a priori self-selection of participants, and the communal vetting of the quality of their work in the process of production itself
CryptoProphet: think of it as a peer review academic paper, same as there in the academic world the primary goal of DivisionX is to have a community of Blockchain enthusiast who will approve or disapprove other projects in the crypto environment through a thorough review process.
We all have seen how many projects have gone away with no deliverables, and worst of all, with millions in assets which were never used for anything, rather than paying for a life full of luxus in some Caribbean island (hope EOS is not the next one to do that hehe).
With the attributes of decentralization in blockchain comes one fatal flaw from a financial aspect. These digital currencies are unregulated. Regulation is usually dictated through a central source. Since there is a lack of regulation, many frauds or scams have taken place and it can be difficult to interpret what is safe and what is not. The problem with these cyber-criminals is that they will continue to repeat these scams, especially if they can steal without being identified.
CryptoProphet: I have shared my concern almost in every meaningful encounter, both inside and outside of Steemit; the lack of regulation is like a fertilizer for scammers, add a lot of water in the form of free money, and you have close to 80% of all ICOs to be considered not safe for investment.
So what’s the proposition? It’s an application of Communal Validation. Ðivision X (DX) is a non-profit project that aims to bring a sense of regulation to cryptocurrencies.
CryptoProphet: I also asked many times, why do we need to wait for governments to rule on how we have to invest or to protect us. As grown-up individuals who are rational and responsible for their acts, we should not expect the Government to adopt a paternalistic approach with cryptos. Same as with many other fields of societies and economy, a little of common sense is required. Unfortunately, on the other specter of Scammers, there are thousands of too naive Moon-kids, all willing to give their money to any Project which mix some fancy techy words and promise a hundred folds return in a matter of months.
Self-regulation from within the community is what DivisionX wants to achieve, and I am full in with them. Is like this law of attraction perceives what my ideas are and makes me meet the right people.
So what’s the proposition? It’s an application of Communal Validation. Ðivision X (DX) is a non-profit project that aims to bring a sense of regulation to crypto currency. We are soon to be launching on the EtherGem (EGEM) network that we personally refer to as “the Communal Ethereum”. The division’s infrastructure will be used to evaluate and authenticate crypto currency projects through delegation and a peer analysis orchestrated by our team. DX tokens will act as an essential aspect of the division’s operation, as tokens are used to act as votes in delegation events. All of these events are compiled and executed through Solidity, which brings with it the essential functionality of Smart Contracts. Some events of which will:
A. Elect analysis proposals for validation.
B. Express negative or positive perspectives.
C. Determine the integrity of analysis data via peer review.
CryptoProphet: Though the project is just starting and the whitepaper is to be delivered, after talking directly to @Gozzy I know he has the skills to provide. We all saw how popular it got the Weiss Report on Cryptos, just imagine if you could have a free for all, community-driven solution, plus recorded in the Blockchain, so every time you want to have an unbiased view on a project, you could check with DivisionX.
Also, as a member of the community by holding their tokens, you can be part of the reviewers, which after community consideration will reach a consensus, as explained in the three points above.
After a community voter completes all three of stages of the delegation events by utilizing their tokens, they will be rewarded for their time through with compensation in DX tokens. The payout amount is calculated through their voting weight, they will be distributed rewards if their token balance is divisible by the voting constant. The reward system is planned to bare a difficulty implementation for delegation rewards to decreases exponentially. In an instance where a delegate participates in twenty-five consecutive delegation events, a bonus will be distributed to those individuals. The division hopes to redefine the traditional system of voting and regulation into a process that is decentralized, unbiased and rewarding.
CryptoProphet: The last part is just genius, you get rewarded by assessing a project. Your interest is not only economical, instead, driven by the need to create a better ecosystem for the Blockchain, which will eventually benefit yourself.
If the community can decide on the legitimacy of some of the thousands of projects which are released every year, we will help the space to focus on those that matter the most. The ones which have a valid concept, an actual hands-on team behind, and most of all, are not looking to grab our money and run away.
The consensus is key, decentralization which will secure the freedom of any entity or individual to start a project. To then allow the community to peer-review the project and give their consensed verdict, as in a grand jury of experts. Of course, it will not have automatic enforcement; it will depend on the conscious of the possible future investors, which will decide to invest or not according to what they freely may decide. Even though, when DivisionX community could have recorded in the Blockchain ledger an opposite decision.
There is no great project without a great community and even more for a project which the main concept is "Communal Validation".
There are great news, you can be one of the first token holders by just registering to the Airdrop from DivisionX which is due on the 19th of April, so just three days to go!!!
To do so just follow the instructions under;
Most of the points above are self-explanatory, just one it may give a place to confusion, that is the EtherGem part. For the sake of simplicity just create a new wallet under that website and store everything as you will normally do for any wallet where the private key belongs to you.
Just be sure to have, a Discord username and follow the DivisionX official channel there. Telegram user and follow the Telegram chat for DX. And the same for Twitter, aside from a compatible ERC-20 Wallet and your email.
For the rest, the DX team will take care and will send you an email in due time to update you on the status of the Airdrop.
Do not take my word for granted and make your own review. There is a lot of material created, and much more on the way. Just check the following links for more information:
ANN: https://bitcointalk.org/index.php?topic=3201421
WEBSITE: http://divisionx.io/
AIRDROP: http://airdrop.divisionx.io/
GIT-HUB: https://github.com/dxtoken
REDDIT: https://www.reddit.com/r/dxtoken/
TWITTER: https://twitter.com/dxtoken
DISCORD: https://discord.gg/s5rSvB2
TELEGRAM: https://t.me/division_x
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