NOTICE: This App May Shutdown Permanently in next 2Weeks (12th, Sept 2018) Due To Lack Of Funding To Continuously Run It As A Free App Helping Newbies Since 2017. I regret this but not ready to yield to greedy investors offer to join pump&dump projects destroying Crypoworld. Thus, if you are willing to help keep this alive to continue to serve newbies in crypto daily for free, kindly donate or want to invest and acquire stakes without greedy terms. Kindly use the contact page! Thanks!
WELCOME! DO YOU WANT TO EARN CRYPTO DAILY? - This App Reward Users Daily In Crypto - Click To See How Now!
You’ve probably heard of The DAO and you’ve certainly heard of the ICO. Now say hello to the DAICO, an “innovative fundraising model” that aims to combine the best of both frameworks. The Abyss Platform is the first project to utilize this hybrid organizational structure, which has been credited as the brainchild of Vitalik Buterin. There’s just one problem with The DAO, the ICO and the mutant DAICO it’s spawned – the public couldn’t give a damn about key tenets such as voting rights and community governance. All they want is cheap tokens they can flip for a quick profit. Also read: U.S. Corporate Customers Barred From Bitfinex’s Margin Markets Live and Let DAICO The DAO (decentralized autonomous organization) was the first major project to be launched on the Ethereum blockchain, complete with a novel governance structure that replaced a board of directors with a community-run model. It didn’t end well. A vulnerability in the code saw one third of the ether committed to the project stolen and The DAO collapsed. As prominent crypto critic and agent provocateur Preston Byrne explains: The original DAO could pass resolutions with a simple majority drawn from quorum of 20% (meaning as little as 10% +1 of the investors could bind the remaining 90%). No resolution ever passed because none of the tokenholders actually cared enough about what the DAO was doing in order to participate. Their primary motivation was to sit on their hands and wait for their investment to pay off. Byrne may…
Source: Token Holders Don’t Give a Damn About Voting Rights and Community Governance
- WANT TO EARN CRYPTO DAILY? - This App Reward Users Daily - Click To See How Now!