Header Ads

Trust God

COMMUNITY GOVERNANCE.......Antidote to rancorous scalability crisis - SmartCash, Dash, Decred joins

510368092.jpg


IN THE CRYPTOCURRENCY community, the importance of community initiative, approval and development is one of the keys to lasting results. One altcoin after another, you will notice this provision on their ICO proposals because when your community of investors and users are united behind a project, you can be sure of its success.

Privacy-centered altcoin SmartCash has announced the implementation of a Community Governance System, which they maintain will deepen decentralization in the ecosystem.

Fireinthebone gathered that their community's initiative has been nicknamed SmartHive. According to him, SmartHive’s budget brings a different dynamic to SmartCash. He also claimed it allows the community to submit proposals for projects and activities that support the network.

Maus, their officer says "We are focusing on allowing the community to participate in the advancement of SmartCash. The "hive" mentality works with a large group of individuals all focused on delivering the same goal. The end result is a community driving development with lasting results."

Dash was the first-ever cryptocurrency to implement a governance and treasury system. Dash self-funds its own development, to the tune of $23 mln per year, by segregating a percentage of the block rewards to spend on community-approved proposals.

Since the creation of Dash’s system, several other currencies have followed along, including PIVX, Decred and a few others.  Maus explained that unlike some other community governance mechanisms that require ownership of a hefty amount of the currency before you can vote, SmartHive allows every holder a voting right, now matter how little currency they possess. He said:

"SmartCash believes that everyone can have a say in the project, not users that need to know how to maintain a server or contribute large sums of funds. We make it easy, as simple as sending an email to cast a vote."

"There are other projects that devote a small portion of the budget to development or proposals, but SmartCash is the first to devote 80% of the block reward to development, support, outreach, and community-driven proposals."

It is becoming obvious that the unity of altcoin community is receiving attention so also community governance.  It is believed that it could be the antidote needed to avoid rancorous debates such as the recent scalability crisis that Bitcoin faced. 


FIRE - Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart and your neighbour as yourself. The Lord bless you!


FIRE...


Powered by Blogger.