Indore Online Journal

Token economy is the first real-world implementation of “Decentralized Autonomous Organization” (DAO), which provides a new paradigm for organizational management from Decentralized to co-governance. When individual daily tasks are supported by protocols rather than managed by managers and employees. Tasks and rewards are assigned by algorithms based on contribution, rather than artificial emotional manipulation. Information is transparently and securely recorded on an immutable public ledger called a blockchain, rather than being passed through a hierarchical structure. This formed a bottom-up DAO co-governance system. Management and strategy changes are determined through a democratic voting process that involves a previously invisible class of stakeholders called “DAO members.” Any proposed protocol changes require agreement at the organizational level before they can be approved and activated.

DAO is an organizational form based on the core idea of blockchain. All participants unite with the common mission, vision and values, and use blockchain technology to solve the problem of trust between people. There is no longer a strict boundary between organizations, and people from any place can participate in and contribute to the development of technology, capital, art, economy and finance blockchain reform and revolutionary practice based on “autonomy”. By establishing DAO community economy in different fields, it can provide a level playing field for everyone in the world. Through the on-chain and off-chain collaborative governance needs, the rapid development of blockchain applications has been brought, and decentralized applications based on Web3.0 have emerged, including DeFi, metaverse games, VR, NFT and so on, realizing more value empowerment.

Decentralized Autonomous Organization(DAO) management mode, which provides participants with ownership of the Organization in the ways of anonymity, anti-censorship, information transparency, token incentive, open-source code and community autonomy. Every DAO member who holds community tokens can propose, vote, make decisions, and govern. The existence of DAO also derived DeFi, NFTFi, GameFi, SocialFi and other Web3.0 ecosystems. Without DAO as the foundation of underlying governance, these ecosystems would not be possible.

The concept of DAO is derived from the earliest “Byzantine Generals Problem” problem. The battle mode of the Byzantine Empire was to make the decision of “attack” or “retreat” by a large number of generals, which was finally transmitted to different barracks through the messenger to ensure that everyone behaved in the same way, so as to win the battle. But there is a risk that the general or messenger will mutiny and maliciously spread false information, leading to the wrong instructions being given.

A good solution to the “Byzantine Generals Problem” is found in blockchain technology: Practical Byzantine Fault Tolerance (PBFT). The core concept of PBFT is “majority rule”. According to the information exchanged among nodes in the distributed network, each node lists all the obtained information, one node represents one vote, and the majority of the results are selected as the solution. PBET controls the fault tolerance at 1/3 of all nodes, that is, as long as there are more than 2/3 normal nodes, the whole system can operate normally. Which is by the generals anonymous vote, finally by more than two-thirds of the general’s decision, decided to attack or retreat, while more than two-thirds of part as the “loyal node”, can be understood as a blockchain good nodes on the network, and the remaining one-third of the part of the following is “rebellion node”, can be understood as a blockchain bad nodes on the network.

The creation of the ByzantineDAO international community by the Byzantine Empire’s “Byzantine Generals Problem”, with CryptoC and the Byzantine historian community working together to build the Common Governance Organization DAO. It is the focal point of metaverse infrastructure, creating a mutually supportive network between the metaverse consensus community and construction community, forging a community-driven Path to Web3.0, and sharing resources with the rapidly growing metaverse developer community. Establish a strategic body with eight guilds, provide a metaverse incubation program through linking communities, IP brands, NFT creators, etc., and develop a powerful operating framework and incentive system through DAO, adding “propeller” to the Web3.0 ecosystem.

Nowadays, ByzantineDAO has allied community groups in 40 countries around the world. has seven major guilds: Capital Guild, Investment research Guild, Web3.0 Guild, Operation Guild, Design Guild, Product Guild, and Education Guild, Distributed on five continents, 270+countries. In Northern Europe, Western Europe, Southern Europe, Eastern Europe, Southeast Europe, Australia, New Zealand, Melanesia, Micronesia, Polynesia. North America, Central America, Caribbean islands, South America and other origins of the Roman Empire.From resources, market hot spots, technology, operation, materials, production, blockchain-related education to create a high-quality community.

Each guild of ByzantineDAO has different DAO work efficiencies. Capital guilds will take the lead in engagement with A16z, Sequoia Capital, Hillhouse Capital, Mutual Capital, Crypto, Grayscale, and foundations to maximize the value of community products.

Investment research Guild on global Web3.0 projects that research and analyze DAO, Metaverse, DeFi, NFTFi, GameFi, SocialFi, and other financial domains to provide strategic layout proposals for ByzantineDAO.

Web3.0 Guild bring together the world’s top hackers, code frameworks, smart contracts, front-end and back-end engineers to manage, develop, defend, and upgrade the ByzantineDAO ecosystem and DApps to create a better operating experience for DAO members.

Operation Guild plans and organizes activities in accordance with local laws and regulations, assisting ByzantineDAO communities to work collaboratively within the ByzantineDAO community to create a positive community atmosphere and spread the word of community events and meetings to ensure that communities remain highly sensitive to market trends.

Design Guild consists of creators of Web3.0 digital collections and art designs who contribute to the Poap of ByzantineDAO, NFT ecology, sandbox C4D modeling, and more art create of Web3.0.

Product Guild through actuarial and research globally relevant Web3.0 ecological product, and planning and upgrading the products to better present eco-products to the market.

Education Guild is composed of community training and Education leaders, who regularly carry out courses on finance, management, blockchain technology and the use of blockchain application tools to enhance the community DAO members’ deep understanding of Web3.0.

The mission of the ByzantineDAO international community is to inherit the SPIRIT of DAO co-governance and forge a coherent community of destiny, developing the entire Web3.0 ecosystem by implementing consensus programs to create the world’s largest virtual economy, optimizing its assets to maximize utility and sharing revenues with stakeholders.

ByzantineDAO’s guild coalition will further the Web3.0 blockchain reform in traditional industries, from the technology, infrastructure, life, trade and other industries continue to seek digital process reform, with the way of “blockchain reform” to enrich the various scenarios of Web3.0 application, and through DAO co-governance, the ownership is handed over to the community.

DAO co-governance will change the way of production and management of society, bring together DAO co-governance proposed from multiple perspectives, and provide optimal solutions to contradictions in the process of development of things. The combination of blockchain technology, which guarantees “accuracy of execution,” and DAO, which guarantees rule-making rights in the hands of the community, is the cornerstone of the metaverse. At the same time, its open collaboration and open source code has been one of the main driving forces for the rapid development of the blockchain industry.

The DAO is co-governed by the decentralized nodes of the ByzentineDAO federation and will become an important organization builder of future security information!

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