{"id":16727,"date":"2017-03-08T00:00:00","date_gmt":"2017-03-07T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/03\/08\/pr-decentralized-how-dash-succeeded-in-dao-powered-public-outreach\/"},"modified":"2021-09-18T11:40:03","modified_gmt":"2021-09-18T11:40:03","slug":"prdecentralized","status":"publish","type":"post","link":"https:\/\/wp.dash.org\/news\/prdecentralized\/","title":{"rendered":"PR Decentralized: How Dash Succeeded in DAO-Powered Public Outreach"},"content":{"rendered":"
Bitcoin and many other cryptocurrencies functioning off Blockchain distributed ledger technology operate in an open-source environment without centralized ownership or command structure.<\/p>\n
Under this model, only miners, those who mint new coins and process network transactions, receive funding directly from the cryptocurrency itself in the form of the block reward, or all new coins created.<\/p>\n
Dash<\/a>, a cryptocurrency emphasizing mass adoption and usability, breaks from this model by offering only 45 percent of the block reward to miners and reserving 10 percent of new coins minted to fund development and other projects.<\/p>\n Community projects \u201cBecause Dash is great in marketing<\/a> and has big plans in terms of usability and mass adoption. While Monero is like Linux, Dash is like Microsoft. They have the power of a wealthy company.\u201d<\/p>\n Unlike a corporation, however, Dash is not owned or controlled by a specific group or certain individuals. Instead, the 10 percent treasury budget reserved for development is controlled by masternodes, stakeholders (and recipients of the final 45 percent of Dash\u2019s block reward) who can vote for or against any budget proposal brought before them.<\/p>\n Any request for funding must make it past a masternode vote, even those requested by the core development team and the coin\u2019s founder. In this regard, Dash can be considered the first decentralized autonomous organization, or DAO.<\/p>\n This DAO has enabled a variety of community projects to spring forth organically and receive funding in the same way as the core team, including far-reaching public relations initiatives.<\/p>\n Amanda B. Johnson\u2019s Dash Detailed video show According to Johnson, the availability of treasury funds for community projects provides the necessary incentives for such projects to flourish, performing well and with consistency:<\/p>\n \u201cProduction follows incentives. Without the availability of treasury funds, I\u2019d likely never have expended the immense time, effort and labor it\u2019s taken to produce \u201cDASH: Detailed.\u201d Proper economic incentives cause solutions to arise naturally \u2013 in the case of \u201cDASH: Detailed,\u201d we\u2019re a solution for the mass communication of Dash developments.\u201d<\/p>\n While Johnson still feels a great deal of accountability for her work, working for a DAO provides an increased amount of operational freedom:<\/p>\n \u201cI only have as much freedom as the masternodes (my employers) allow me, naturally. You can\u2019t make money without one or more bosses \u2013 your customers are your ultimate bosses, really. But it\u2019s magical not to deal with the hassles of traditional, bank-run payroll!\u201d<\/p>\n The Dash Nation community initiative \u201cI felt that there was a void that needed to be filled in the community with the implosion of the previous Slack. A place where respect and professionalism ruled the day, and people could hang out and collaborate on projects in real-time would only be a benefit.\u201d<\/p>\n
\nReddit user Tigerix, when contrasting the approaches<\/a> and relative successes of Dash and Monero, notes the organization and funding employed by Dash:<\/p>\n
\nAmanda B. Johnson, who wrote for Cointelegraph and ran a general cryptocurrency show called The Daily Decrypt, saw a gap in the Dash ecosystem\u2019s educational media offerings. She took the opportunity to submit a proposal to the masternodes to produce a video series to educate the general public about the inner workings of Dash, as well as to highlight news and developments in the community.<\/p>\n
\nIn order to grow a positive community environment to welcome new users and build a platform for positive collaboration and discussion, Dash Twitter activist Tao of Satoshi launched the Dash Nation channel on Slack after a previous Dash-centered Slack community collapsed amid infighting and negativity:<\/p>\n