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Decentralized Governance

Decentralized Governance by Blockchain, or DGBB, is an attempt to solve two major problems of the crypto currency sector: decision-making and financing. A decentralized project often faces the problem that important decisions are imminent. In this ecosystem these are hit by the Masternodes. They embody the network. The DGBB system allows to tune each master mode once (yes / no / abstain) via the outcome of a proposal. At the end of the electoral term, the proposal will be implemented (or rejected) by the developers. An important example is a proposal from the Dash Core team, which in early 2016 advocated increasing the size of the blocks to 2 MB. The approval lasted in this case, less than 24 hours. The same problem was also discussed in the Bitcoin community for 3 years. There, this discussion has led to significant divisions and even to actual splits, the so-called. Forks the Bitcoin Blockchain led.

DGBB also offers the opportunity to finance itself. For example, while other projects need to rely on donations or a premine, Dash uses 10% of its own block rewards to fund the development. For each new block, 45% of the block rewards are paid to the miners and 45% to the master nodes. The remaining 10% will be created at the end of the month. During the month, each member of the community can submit a budget proposal to the network. If this proposal is approved by at least 10% of the Masternodes network, the requested amount will be paid out by a "superblock" at the end of the month. At this point, the block rewards will be used to fund the approved proposal. These are the unpaid 10% of each block. As a result, the network is self-financing, as these portions of block rewards are spent on the budget project.

 

Most of this information was acquired and generalized by Dash Core, for the most part.