DAOstack

DAOstack – An Operating System for DAO | Ecency

At the first, let's remember what is DAO?

DAO (Decentralized Autonomous Organization) is an organization operating on the basis of smart contract rules.

Chain of transaction blocks, protected timestamp, and distributed database technologies enable you to organize a secure digital ledger of contracts, acts, and records that record ownership (or voting rights) of your part in an organization.

One of the first such organization was "The DAO" — a decentralized Autonomous organization for venture financing, which began operations by crowdfunding a fee of $150 million in June 2016.

It is a decentralized governance platform that enables people to effectively organize themselves around shared goals and objectives.

When DAOstack's creators have started to develop solutions for decentralized governance, they recognized that, given the complexity of the problem, the best solutions would be created in future, especially when the needs would differ according to use.

Thus, they developed DAOstack, not to focus on one particular solution, but to become a platform for experiments where information and management structure can be easily mixed and matched for each organization.

DAOstack use cases

In the broadest sense, DAOstack can be used in any situation where there is a need to coordinate a large group of people to make decisions collectively. Thus, it is possible to identify different types of solutions to certain tasks that may be required by participants.

Token

GEN is a token inside the DAOstack ecosystem. GEN meets the needs of the system in the definition of collective human attention. The prediction market works using the token, allows each Decentralized Autonomous Organization to prioritize the most important proposals. GEN acts as a marker. With the help of GEN, you can bet on the result of attention level that a particular proposal will deserve. The bet can be made as "for" and "against". In case of a successful outcome, you will receive a reward, in case of failure, you will incur a loss.

This fixation system is actually a prediction market that works in parallel with the voting apparatus.

What difference between the technology DAOstack and other Decentralized Autonomous Organizations?

The most important thing to note is that DAOstack is not the DAO. It's kind of an operating system for DAOs. However, as part of their work, the company plans to release specific DAO on its platform. An example is Genesis DAO, which will be the first DAO deployed on the DAOstack platform.

Currently, DAO is at the stage of development and in fact, there is not a no one full-fledged DAO. Most of the projects that are currently developing, no matter how worthy they may be, do not have a stable and scalable system. They perform a limited set of functions, and in some cases are in fact quite centralized. DAOstack is planning to change that.