eosDAC is the world’s first community powered, owned and operated EOS-Block producer as well as DAC Enabler. It’s newly developed and going through the different phases of ICOs. You can learn more about it at the company website eosdac.io.
How Does eosDAC Work?
The EOISO Software is now being created by technical geniuses at Block.one, They are going to attempt to essentially run the operation that involves extremely scalable blockchains. Not only that, but they will be using tiny amounts of inflation on the company tokens to cover the cost of any transactions. In turn, it will also allow for the creation of a very realistic and scalable, decentralized application as well as online business owned by various communities in the network.
The company is going to run on the proof of work algorithm instead of doing a simple mining operation. It will be similar to Bitcoin in nature as well as Ethereum. The platform will be using the EOSIO blockchains in accordance with all responsibilities being delegated via the proof of stake algorithm, anyone holding a token will be able to vote in 21 main blocks as well as 100 more reserves.
The block producers will also require a powerful company infrastructure, or more importantly – a community one. This will be in order to handle the enterprise sector that runs on decentralized applications as well as needing to be a significant entity, capable of scaling as is needed. Any of the block produced will then be paid via the limited EOS token’s inflation.
The DAC or decentralized autonomous community is the governing entity by its own designed constitution, that is created through the use of smart contracts stored on the block chain. This is an efficient and almost radical way to bring the community together as well. It’s all made via the EOS software. The DAC, it is controlled via the token holders and the board members who were previously voted into their position by the community to help run the operations.
The community basically owns the EOS block producer. And using the eosDAC, that is being created by BlockMaker Ltd, but being controlled by the community and not the creator will give people more power and control than is typically seen in a cryptocurrency.
eosDAC In Conlclusion
The main vision of the company is to be open to all people who want to contribute and for their benefit as well. Their vision is completely focused around a decentralized and autonomous community. The company also creates tools and smart contracts that will help the platform function smoothly and properly. And this in turn will help communities and token holders, as well as the tokens themselves thrive on the platform.
To Learn more about eosDAC, head to the company website at eosdac.io. The token sales has begun and the final sales will end sometime in June of 2018.