eosDAC: We Plan to Introduce Tools Which will Allow for All Key Functions of the DAC to be Done On-chain. | HelloMedia #6

helloeos (44)in #eos • 6 years ago (edited)

HelloMedia is a Chinese language media platform under HelloEOS which is an EOS block producer. Devoting to become a media deep in serving the EOS ecosystem participants, we will continue to interview those outstanding teams in EOS ecosystem, including BPs, DApp developers, investors, eco-platforms and media. Also, we provide a multimedia platform for those excellent EOS eco builders who contribute to the developing the EOS ecosystem to showcase themselves.

Check the Chinese Translation : HelloEOS社区（Wechat Public Account)

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HelloEOS: Please tell us about your team and why are you optimistic about EOS? Like why are you intend to be an BP from the beginning?

eosDAC: We wish to provide stability to the EOS blockchain through excellence in technical capability, for which we are especially known as a team. We believe in the power of the EOS.IO software to facilitate decentralised autonomous communities which we see as a powerful structure for empowering more people and organising a motivated and enfranchised community toward a common purpose.

Team Core Members

Rob Allen : Rob has a background as a software developer and has run game servers. More recently he has been managing software implementations for international finance companies and government institutions. Rob is convinced that the true power of the EOS.IO software is that it will facilitate DACs which will have significant far-reaching positive social impact.

Michael Yeates : Michael is an expert on various technologies and was the founder and Managing Director of a successful eCommerce platform. Members of the EOS community are likely to recognise Michael's name as he is highly active within the EOS community. Michael key focus is working to create the foundation for the next generation of distributed systems.

Luke Stokes : Since the middle of 2017, Luke has been a block-producing witness on the STEEM blockchain. He bought his first bitcoin in January of 2013 and has been passionate about cryptocurrency and decentralization ever since. In 2007, he co-founded and built the ecommerce shopping cart platform FoxyCart.com which he sold to his business partner in 2018 to focus full-time on the blockchain space.

Will Stephens : Serial entrepreneur from childhood, Will started his career as Sales Director for one of UK's leading Internet Backbone Networks, before going on to be founder, director, consultant and founding shareholder of many start-ups in the realms of web-hosting, linux open source software and healthcare, including a leading plant-based pharmaceutical company currently valued at over $3BN on NASDAQ.

Saro McKenna : Saro has been advising companies on strategy and corporate finance since 2005. She was formerly in M&A at Rothschild in London and has latterly been freelance, having advised on over £2bn in capital raises. Although she comes from a blue chip corporate finance and strategy background, Saro is passionate about being part of the adoption of the blockchain across economic and social applications, as a means of empowering more people and disintermediating vested interests. Saro also teaches meditation in central London.

Daniel Harris : Daniel sold his first company, Cerbernet, an ISP, in 2000 for 4M GBP. Since then he has been leading the nonprofit open source music/media research alliance, Kendraio - aiming to drive interoperability between and within every link in the content value chain. Having raised over 1M EUR in research grants, Kendraio is funded into 2020. Daniel currently project manages Kendraio App development and is also researching blockchains for the music/media industry.

Full team（https://eosdac.io/team/）

HelloEOS:Your team did a lot work for the EOS ecosystem. Could you introduce their features and functions to the Chinese community?

eosDAC: eosDAC has been continuously testing block production on the community testnet, even before it announced its BP candidacy.

eosDAC was a part of the ghostbusters team along with EOS Rio, HKEOS, Sw/eden, EOS Tribe, EOS 42 to name a few.

Ghostbusters started as an EOS testnet focused on researching and rehearsing the best practices for running the eosio software in as secure way as possible. It all started because we were worried about the lack of focus regarding infrastructure security.

It was initiated as a research environment, not a launch initiative, it quickly attracted the attention from the community and other BPCs who were feeling the same way we do concerning security. Then people started recommending it as a launch approach.

Michael Yeates from eosDAC found a DDOS bug that qualified for 10k EOS developer bounty. The bug allowed an attacker to consume 100% of the node's CPU.
https://twitter.com/eosdac/status/1005154586188009473

eosDAC tech team spent countless number of hours on never ending zoom calls with other BP and weeks of sleepless nightless to ensure a secured launch of EOS mainnet and months before testing the EOSIO software on the Community Testnets.

eosDAC was born out of Dan Larimer's concept of Decentralized Autonomous Communities or DACs, around which Block.one developed EOS software led by Dan Larimer and Brendan Blumer.

Block.One's early presentations talked about EOS.IO software ushering in 'The Era of DACs'. They showed how DACs were more transparent, auditable, trustworthy and inclusive than existing companies and how this would result in DACs being ultra competitive.

eosDAC shares the same vision for how DACs can disrupt how business can be done. We believe that these new business models can challenge how we think about what a company will be. Blockchain technologies introduce new business opportunities which create value and give it back to the community, rather than only extracting resources from their environment. All connected parties to the DAC are incentivised to continually add value, therefore stimulating creativity and growth.

In order to function, DACs need tools that aren't currently available. eosDAC will create these tools and, through its commitment to open source software, will share them as a DAC Toolkit that anyone can take and use to set up and run a DAC.

This DAC toolkit will evolve organically and over time and will include the core concepts of membership, voting, custodians and proposals. Any account holding DAC tokens can become a Member and get rights to benefit from the DAC, stand as a custodian, vote for custodians and submit proposals. Custodians are the DAC decision makers and will be continually voted for and held accountable by members. Proposals will be voted for by custodians and once approved (subject to available funds being available) will be implemented, checked and paid for. All proposals will provide some deliverables and benefits to the DAC ecosystem.

The DAC toolkit will need to make sure that all of the different cogs of the DAC machine run smoothly.

Over time, other DAC structures and tools could be supported. It is also envisaged that other individuals, groups and DACs will join and build upon the toolkit. Beyond software, the toolkit will also include best practices alongside legal and regulatory guidance for different jurisdictions. This will include a case study on eosDAC's endeavours.

eosDAC will continue to work on suitable 'off-the-shelf' structures for DACs to interact with the worldwide legal and financial systems, in fact everything that a new DAC will need in order to be established and flourish.

HelloEOS:Which one you are most proud of ? Why?

eosDAC: eosDAC is proud of all its accomplishments so far. We think our proudest achievement would be being the pioneers of the airdrop model and to be one of the 1st projects on the EOS chain to complete an airdrop and setting an example for other projects. This reddit post made by an EOS community member speaks about it.
https://www.reddit.com/r/eos/comments/8gyn3l/something_miraculous_happened_on_eos_and_no_one/

HelloEOS: We would like to know your first impression to the group of Chinese BPs. And what do you think about the Chinese BPs？

eosDAC: We have enjoyed working with BPs from around the world. We have especially appreciated working with the highly technically competent block producers who prioritise excellent standards of security and minimise missed blocks. Some of these colleagues have been from China. Michael Yeates also recently travelled to Shanghai and met with many valued colleagues.

HelloEOS: Could you tell us about the eosDAC token?

eosDAC: Anyone holding DAC tokens can become a Member and get rights to benefit from the DAC, stand as a custodian, vote for custodians and submit proposals.

Token Utility

Holding eosDAC tokens gives the token holders the rights to become an eosDAC registered member upon activation of their membership.
Being an eosDAC member gives registered token holders the ability to run and vote for the governing board of Custodians. Custodians will decide how to allocate or reserve the DAC's revenues, including funding chain-wide initiatives like arbitration, CPU or RAM provision, or anything that adds value to EOS and eosDAC.
EOSDAC token holders may be eligible to receive airdrops of projects that use our DAC Tool kit to kickstart their projects.
Registered eosDAC token holders will be eligible to submit worker proposals that bring value to eosDAC or EOS ecosystem. WP could be anything like a video, infographic, a dapp, writing an article etc, once accepted by the custodians, upon delivery of these worker proposals you get paid for the value added. Worker proposal flow.

Token holders may be entitled to distribution of profits if the elected Custodian board so decides. Custodians acting in the best interests of the DAC would ensure operational expenditure, infrastructure growth, community development and contingency funds are in place as a priority.

HelloEOS: What is the reason of created the eosDAC token? And what do you expect of eosDAC？

eosDAC: In order to create an EOS Block producer that is owned by the EOS community itself, eosDAC dropped 75% of eosDAC tokens to the EOS Token Holders, 20% for were given to the launch team members, Advisors and to build a wider community. The remaining 5% of eosDAC tokens were given to eosDAC Ltd, which are intended to be used as capital reserve.

HelloEOS: How does your operation differ from other BPs?

eosDAC: It is the vision of eosDAC that EOS.IO block production should be open for everyone to contribute and benefit. To realise this vision, eosDAC is an evolving Decentralised Autonomous Community (DAC) focused on EOS.IO Block Production serving the EOS communities worldwide. In doing this, eosDAC will create the tools and smart contracts it needs to function. It will share these with the EOS communities to help other DACs thrive on the EOS.IO blockchains.

eosDAC is creating a DAC on the EOS blockchain, until then eosDAC is being run by its Team. eosDAC has spent most of the time since the EOS mainnet launch in June 2018 as an active block producer, meaning we have been continuously elected by the EOS community to be one of the 21 block producers on the chain. eosDAC now has workers comprised of eosDAC community members/token holders who submit worker proposals and work together to add value to eosDAC. We are a DAC and don't have a top-down traditional team following a hierarchy.

HelloEOS: Will you talk about your plan in the next phase?

eosDAC: We plan to introduce tools which will allow for all key functions of the DAC to be done on-chain. This includes voting for 12 Custodians each week, submitting worker proposals and voting on worker proposals by Custodians, on chain. Additionally, payments will be effected by elected Custodians via multisig wallets.

HelloEOS: Finally, do you want to say anything to the Chinese community? In other words, could you give us a reason to vote for eosDAC?

eosDAC: We value transparency and so are always willing to collaborate with others who share our vision of stability of block production, the smooth functioning of the EOS chain, and the flourishing of decentralised autonomous communities. We appreciate working with all other technically capable block producers.

Our focus is on creating the best infrastructure and using the block rewards to build great tools which can help anyone build their own DAC. We hope that people recognise the work that we are doing and vote to help us keep working on the tech.