Governance that integrates the best of everyone.
On-Chain and Off-Chain decentralized governance
A DAO (Decentralized Autonomous Organization) is a decentralized organization whose governance rules are automated, immutable and transparently embedded in a blockchain.
Governance is probably the greatest challenge facing the Blockchains. The Bitcoin network now has the most advanced decentralized governance with the famous expression “code is law”, nevertheless this governance is based on only a single type of actor — “the owner of the miner” or by extension the largest pool of miners. It is indeed the code enforced by the largest computing power and hence the professional mining farms that effectively govern the Bitcoin network.
Although this governance is decentralized, it ignores a huge part of the ecosystem starting with the users themselves, the application providers, the technical contributors and even the Blockchain itself constrained by the code installed on the highest computing power.
In order for the network to survive over time and adapt to changes in society, the governance of the Archethic Blockchain is based on several technical and functional fundamentals:
Decentralized Identity & Proof of Identity
Essential prerequisite for a human-inclusive governance: the ability of the ecosystem to uniquely identify a person and to integrate that person into a relevant group of actors. see :Uniris Biometric Solution
The code used by the nodes is hosted by the Blockchain itself, so the network is certain that all the nodes will immediately apply the decided updates (via Elixir hot-reload modules and from the information stored in the “smart-contract content” area). The Archethic Blockchain is also equipped with the ability to test the impact of a new feature in real time.
Each smart-contract is stored in the form of a specific transaction chain allowing the network to version (git…) all updates, but also to force each update according to a specific governance (voting quorum, veto right…).
Financing of the work associated with updates, new features and contributions is an essential element. The network has a reserve of one third of the tokens (with progressive distribution constraints) for this purpose.
Governance of the Archethic network is based on 8 distinct groups:
Planned Governance by the Community
Open Innovation to create the conditions for generalization
ArchE, a Humanitarian and Community Project
Once the risk of fork is removed, all the patents will be transferred to the heritage of the open source technologies, most likely this heritage would be assigned to the OIN (Open Invention Network). The entire source code will be AGPL licensed.
A strong voluntary pedagogical approach, giving everyone the opportunity to understand technology
Between scientific publications and popular articles, the underlying technology will be described in detail in 5 yellow papers.
The first part, already published, describes the network functioning (Consensus ARCH, Supervised Multicasting (p2p) and all mechanisms that have resulted in an unlimited network) :
The following sections will be discussed in future: application programming, open governance, the building blocks of the functioning of decentralized identity and finally the biometric devices and their derivatives.
Patents are the key aspect to protect the Blockchain against forks before being given to the open-source community
Archethic Public Blockchain
Archethic is a Layer 1 aiming to create a new Decentralized Internet.
Its blockchain infrastructure is the most scalable, secure & energy-efficient solution on the market thanks to the implementation of a new consensus: "ARCH".
Archethic smart contracts expand developers' boundaries by introducing internal oracle, time-triggers, editable content & interpreted language.
Through native integration for DeFi, NFTs & decentralized identity; Archethic offers an inclusive and interoperable ecosystem for all blockchains.
In order to achieve the long-term vision of an autonomous network in the hands of the world population, we developed a biometric device respecting personal data privacy (GDPR compliant).
Making the blockchain world accessible with the tip of a finger. Be the only key! https://www.archethic.net/
Archethic Foundation Non-profit in order to manage decentralized governance of the public blockchain