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In the last 12 months, there has been an explosion in the number of blockchain protocols under construction. Of these new launches, almost 80% of utility tokens e smart contract the blockchains announced that their governance processes will be decentralized and migrated to the chain.
Although many have made announcements of governance on the chain, the current developments on that side have been rather slow. Few projects have been able to develop true chain governance and therefore opt for a delegated participation test (DPOS) and the coin-voting. However, a full set of standards on active governance has yet to emerge.
What is Edgeware?
Edgeware it is an experimental blockchain that demonstrates the competence of on-chain governance. It is an actively governed intelligent contract blockchain that is based on Ethereumsmart contracts based on
Edgeware helps in the integration of advanced and experimental features such as proof-of-stake, sharding, on-chain identity and cryptographic primitives for chain voting. Because it is actively governed, Edgeware serves as a testing ground for core network upgrades and governance and thus integrates existing networks.
Governance on the chain
While large cryptographic projects such as Ethereum e Bitcoin they use informal governance systems, are often criticized for centralizing the process between key miners and developers. These problems of centralization have led to the emergence of a chain governance that is slowly growing as a perfect alternative to the informal processes of EIP is BEEP.
Chain governance incorporates all the nodes within the blockchain into a decision-making process. Investopedia defines on-chain governance like:
"A system for the management and implementation of changes to cryptocurrency blockchains In this type of governance, the rules for setting up the changes are codified in the blockchain protocol.The developers propose changes through the updates of the code and each node votes whether to accept or reject the proposed change. "
Once the change is proposed, each node approves or rejects the proposed change. To participate in the process, the main stakeholders receive economic incentives that encourage them to join.
To demonstrate the effectiveness of this on-chain governance and core network upgrades, the developers of Commonwealth Labs created Edgeware. Edgeware has the ability to accelerate the implementation and implementation of experimental core technologies such as sharding, game test (PoS), efficient implementations of STARK and changes to execution times through the implementation of technical progress.
Because Edgeware uses on-chain governance, it makes it easier to coordinate the blockchain team than updates that require miners to organize and update their software in a coordinated way.
Key features of Edgeware
Governance systems
One of Edgeware's critical differentiators is that it is implementing a number of basic governance systems. As a result, it will launch a small series of elements to foster an initial community. These elements include:
- Identity on the chain: Edgeware will use a primitive first-class identity that will help people identify with each other in the governance process.
- Delegate vote: Users will be able to delegate their votes in governance processes to other coin holders. This will contribute to facilitating turnout and will also encourage delegates to develop sound opinions on many issues.
- reporting: Non-binding surveys are an equally important part of a blockchain project in which users can create and distribute surveys to signal interest in different proposals and strategies
In the future, Edgeware plans to include support for additional governance features such as:
- Safe vote: This will allow users to vote anonymously thus avoiding any malicious activity, including the purchase of votes. It would require the team to implement cryptographic primitives at the protocol level.
- DAO: This would allow users to self-organize in groups and participate in a variety of decision-making processes by helping in a variety of community processes.
interfaces
As for the interface and the processes, Edgeware provides the contributors and the holders of money the opportunity to participate in the governance process by developing well-designed user interfaces and means to use them. Therefore, it would also allow developers and stakeholders to get together and work on the project roadmap and vote on the inclusion of specific elements needed for the project.
Tips
It has been observed that, in governance, it is mainly the validators that are natively incentivized. Edgeware replaces this concept as it proposes to use the block premium to incentivize all stakeholder groups. Blocked inflation will be allocated to a chain treasure, which will be assigned by specific advice. These groups are made up of the following sectors:
- Governance: Edgeware will participate in governance systems including chain identity and the tools for organization and coordination.
- Main technology: Edgeware will be one of the first implementers of the scaling and sharding technologies on the Ethereum Roadmap.
- Developer experience: It will invest in tools and services that improve the experience of its developers. This would include the implementation of the best tools in the class for development, debugging, verification of smart contracts, etc.
- The user experience: Edgeware will invest in portfolios and user experience primitives to develop a decentralized application that will be simple and easy to use.
- Support of the ecosystem: Edgeware will be able to engage developers, end users and other interested parties through in-person events.
Future of Edgeware?
The Edgeware team sees the future in on-chain governance and has drawn a stellar roadmap for its future. Edgeware plans to develop a strong concept for chain identity, a useful mechanism for financing inflation, a treasure and even a political system.
Once the governance systems are in place, expect self-organizing stakeholder groups to come forward and participate actively in the governance process of Edgeware. In the long term, the network will be based entirely on coin holders and members of the Edgeware community. To enable them to participate in the process, Edgeware will provide a set of tools called "fractal governance".
Second Dillon Chen, Source Network Editor and Commonwealth Labs:
"Edgeware was launched with a minimal governance system.The objectives are twofold: to get a functioning system in the hands of the stakeholders, and so the further work is beneficial from direct and on-chain feedback."
The first governance system will include treasury, identities and proposals that would work as follows:
- The treasure system will accumulate tokens whenever a new block is coined.
- In the identity system, users will be able to match them GitHub deals with Edgeware.
- The proposed system aims to support discussions and voting on different types of resolutions, including network updates, financing proposals and reporting proposals (resolutions without binding effect).
The goal of Edgeware is to be a foundation that can allow developers to experiment with many governance systems simultaneously. The concept of decentralization through blockchain technologies it is still rather nascent, but a new chain actively governed with a policy of progressive updating will be a crucial element in its growth.
Since Edgeware is able to self-improve and has the capacity to finance, develop and implement joint initiatives, it is an interesting alternative for both existing and emerging blockchains.
Will Edgeware be able to provide some strong chain governance models for current and future blockchains? Let us know your opinions in the comments section.
