Huge growth opportunities have emerged across the web3 space thanks to decentralized structures. But what exactly is decentralization? How does it work? And why decentralize when you can centralize? Here is an overview of the pros and cons of decentralization.
Everything You Need To Know About Blockchain
In this video, we will explain the history of Blockchain, what it is, how Bitcoin transactions happen, how Blockchain features like hash encryption, proof of work, and mining contribute to them, and how Blockchain technology is applied in real-world situations. Let’s dive into this video to learn the fundamentals of blockchain technology and how it works.
“Everyone Is SO WRONG About This Market” | Mark Cuban Reacts To Crypto, Bitcoin & Ethereum Crash
Shark Tank Star Mark Cuban also known for owning the Dallas Mavericks like so many other investors has come a long way from a few years ago to being strongly positioned against Bitcoin and Cryptocurrency to now being one of it’s biggest bulls & it making up a substantial position in his portfolio. In his most recent interview, Cuban reacts to the crypto crash and why he is a long term believer in Bitcoin, Ethereum and crypto in general.
Wikipedia’s Jimmy Wales Already Solved the Internet’s Problems
Wikipedia, “the free encyclopedia that anyone can edit,” went from being a weird online experiment 21 years ago to one of the mainstays of the modern internet with astonishing speed. Even more astonishing, it has maintained its reputation and functionality since its founding, even as the rest of the social internet seems hellbent on tearing itself apart.
As Twitter, Facebook, and others are consumed with controversy over moderation, governance, and the definition of free speech, Wikipedia continues to quietly grow in utility, trustworthiness, and comprehensiveness; there are now nearly 6.5 million articles on the English version alone and it has held its place in the top 15 most visited sites on the internet for well over a decade.
Reason spoke with Wikipedia’s founder, Jimmy Wales, who was predictably modest about what he got right. A key ingredient to Wikipedia’s success is its high degree of decentralization. After this interview was conducted, Elon Musk made a bid to buy Twitter, bringing new salience to the battle over who controls the flow of information (and disinformation) online.
Reason last spoke with Wales 15 years ago, and the resulting profile ended up becoming a source for Wales’ own Wikipedia entry. At that time, we talked about the future of online speech, improving the algorithms that shape our lives, and the role that Friedrich Hayek played in Wales’ thinking. This conversation picked up where we left off.
What is a DAO – Explained in 3 minutes (Animation)
A Decentralized Autonomous Organization is an organization that is created based on a set of rules encoded as a computer program.
The rules and codes are transparent and to be controlled by the members of the organization without any influence from a central body.
Let’s say there’s a vending machine that’s not only capable of accepting payment and dispensing snacks but can also place an order for more snacks automatically.
The vending machine can also pay its rent and order cleaning services by itself when required. Active users of the machine all have a say in how the machine operates.
The users determine which snacks the machine should order and also how often it should order cleaning services. There is no manager or board of directors, as all these processes were encoded into the vending machine when it was created.
In short: a DAO is about establishing a fully functional, automated organisation without hierarchical management.
Since DAOs don’t have managers delegating work about what and how things should be done, something else must take the role of it’s managing functions to fully function on it’s own.
A functioning DAO is created in phases, where the launch phase is used to define and activate the first set of rules, encoded as a smart contract.
After the launch phase, the DAO moves onto the funding phase because it needs an internal property that uses currency to carry out smart contract functions.
When both phases are complete, a DAO can function by itself and its functions are carried out by its stakeholders via way of voting.
After a DAO is deployed it becomes independent from its creators and is fully autonomous.
Every decision on how it operates and where to spend its funds are determined via voting and reaching collective consensus from it’s stakeholders.
All users who purchased a stake in a DAO have a right to make proposals regarding its future by paying a monetary fee for each proposal.
Then the stakeholders would vote on the proposal. To carry out the winning proposal, the majority must reach a consensus.
There’s a minimum percentage required to reach consensus and it can vary with per DAO. As with every operational rule, the required percentage to reach consensus is stated in the code.
Crypto Investors Take On Wyoming Real Estate | WSJ
A group of about 6,000 crypto investors known as CityDAO bought 40 acres of land in Wyoming. WSJ’s Paul Vigna explains how this decentralized autonomous organization, or DAO, came to own this land.
What Are DAOs? (And How One DAO Turned $10M into $1B) | Forbes
The leaderless investing collectives known as decentralized autonomous organizations are generating a lot of eyerolls. Thanks to high flexibility and low regulation, they’ll also soon generate a lot of profits.
“This is an incredibly risky move. I don’t know if I agree with this.’’ Erick Calderon, the founder of a company named Art Blocks in a risk-oblivious field, nonfungible tokens, was nonetheless concerned. It was February 2021, and Calderon was one of 59 investors who had banded together to potentially buy a rare set of 150 popular NFTs, CryptoPunks, directly from their producer, Larva Labs.
The group, a decentralized autonomous organization (DAO) called Flamingo, had pooled $10 million and met weekly via Zoom (audio-only to protect those wanting anonymity) to figure out what to do with it. The CryptoPunk opportunity, at about four ether ($7,200 at the time) per punk, would eat 10% of that, which is partly why Calderon aired his concerns on the group’s Discord channel.
The tension got thicker when members discovered one of their own—someone going by the pseudonym “Pranksy”—had tried to front-run the deal, opening a back channel with Larva Labs to buy 150 punks for himself. In the end, Flamingo members voted to spring for the punks, which were recently valued at $30 million. As for Pranksy, he left the DAO “by mutual agreement,” telling Forbes he was “somewhat naïve [about] the DAO process.”
The Future Of Work | Decentralized Autonomous Organization Will Shift Power To Employees
What does a future with no bosses look like? How will decentralized autonomous organizations flip the structure of a business to return power to the employees? Smart contracts and token economics will be a large part of the equation, but businesses will also become more democratic, with employees being stakeholders instead of just cogs in a corporate wheel. We expect DAO’s to play a major role in a paradigm shift on what work actually is.
Every Type of NFT Utility Explained | DAO, Staking, Burning, Breeding, Utility Tokens and More!
As the crypto markets go on run and ethereum price is soaring the nft space is moving slow. In this video I breakdown what common utility projects are using to stand out in this fast paced landscape. People have started stigmatizing DAO’s due to the whole daoturtles being taken off open sea. I believe every NFT project should be utilizing a DAO to handle governance in their communities. We are seeing a lot projects and founders innovate in this space but also a lot of bad actors using these pieces of utility as a buzzword to reel people in. Today’s video i breakdown each type of utility and explain how they work.
Decentralized Autonomous Organisation
Decentralized Autonomous Organisation. Quite a mouthful, which is why most people just say ‘DAO’.
But what are they? What do they do? And why should you care?
Very, very good questions.
In a nutshell, DAOs provide the framework for OPEN COLLABORATION. Which, it turns out, can be incredibly productive. How productive you ask? Well, that’s what we’re here for you silly goose!