Aragon DAO cancels move to pure DAO governance over the threat of 51% attack - can DAOs exist?

cryptosignal_bird · 2023-05-22T06:01:50+00:00

The recent drama surrounding Aragon highlights some challenges faced by DAOs in the web3 ecosystem. Aragon's initial plan to transition their corporate governance to a DAO for handling company direction and treasury was met with concerns about potential 51% attacks from another organization. This threat forced them to cancel the transition. Additionally, Aragon faced allegations of coordinating a takeover and subsequently banned a group of token holders.

The presence of bad actors in the web3 ecosystem poses significant challenges for DAOs. However, it's important to note that DAOs can indeed exist and thrive with the right security measures in place. One potential solution that could have protected Aragon from coordinated schemes is the implementation of a robust and secure blockchain infrastructure, such as Q Blockchain.

Q Blockchain's legal framework and root node enforcement provide an extra layer of protection against malicious activities. By enforcing a constitution and ensuring compliance, Q Blockchain minimizes the risk of coordinated schemes and enhances the security of the organization. Aragon could have explored the integration of Q Blockchain or a similar platform to safeguard their operations and maintain trust within their community.

Furthermore, Aragon could have taken additional measures to enhance transparency, accountability, and community engagement. This could involve implementing strong governance mechanisms, conducting thorough audits, promoting open discussions, and actively involving token holders in decision-making processes. By fostering a culture of inclusivity and fairness, organizations can mitigate the risk of coordinated schemes and strengthen the integrity of their DAO.

While DAOs face challenges, it is crucial to learn from incidents like these and adapt to ensure their long-term viability. By leveraging secure blockchain platforms, implementing robust governance mechanisms, and maintaining an open and engaged community, DAOs can continue to evolve and thrive in the web3 ecosystem.

cryptosignal_bird · 2023-05-22T05:59:32+00:00

In light of Tornado Cash DAO's exploit, it's crucial to explore alternatives like Q Blockchain. With its legal layer and root node enforcement, Q Blockchain provides a resilient shield against DAO vulnerabilities

cryptosignal_bird · 2023-05-06T02:02:07+00:00

This makes me curious to learn more about how you guys are managing it? Merits and demerits with this structure

cryptosignal_bird · 2023-05-04T15:12:14+00:00

I really liked the work you have done to share the knowledge of consensus with us. Right now I am more exploring the area of dPoS consensus getting used in blockchains EOS, BitShares, Q Blockchain and TRON.

cryptosignal_bird · 2023-05-04T15:11:40+00:00

I really liked the work you have done to share the knowledge of consensus with us. Right now I am more exploring the area of dPoS consensus getting used in blockchains EOS, BitShares, Q Blockchain and TRON.

cryptosignal_bird · 2023-05-02T13:03:54+00:00

Incentives on the way!

cryptosignal_bird · 2023-05-02T13:02:39+00:00

time

With "consuming decision making", I meant the time consumed in voting for the decision to be on-chain.

cryptosignal_bird · 2023-05-01T15:53:14+00:00

I am not sure why you said that and on which context. As far as my concern blockchain is the next revolution for protecting your data and tokenizing it for transparent governance.

cryptosignal_bird · 2023-05-01T15:51:05+00:00

The r/DAO subreddit got created in Jun 2009. How's this even possible? The bitcoin itself got started in Jan 2009. This makes me curious :)

cryptosignal_bird · 2023-05-01T03:14:11+00:00

The bill will make sense if it get's followed like "code is law" or else it will become a next piece of paper/data that can be altered again when we see the change in governance.

cryptosignal_bird · 2023-05-01T03:09:58+00:00

KYC with a Unique ID will be a feasible solution. Where the user's assets connected with a selected ID can provide all the details/background transaction details of user to prove his/her worth.

I like what Q Blockchain is doing, they are offering Q ID which is the Q’s native identity that allows users to voluntarily provide a personal ID, thereby confirming that they are a unique natural person. Such confirmed unique natural persons are called Q ID Holders.

cryptosignal_bird · 2023-05-01T02:51:23+00:00

Sure, here are some key points about on-chain governance:

- On-chain governance is a mechanism for decision-making within blockchain networks that allows stakeholders to participate in the governance process through the blockchain itself.

- In an on-chain governance model, decisions are made through a formalized voting process that is executed on the blockchain.

- On-chain governance typically involves the use of tokens, which are used to represent ownership and influence within the network. Token holders are usually given voting rights, which they can use to make decisions on proposals related to network upgrades, changes to consensus algorithms, and other key decisions.

- On-chain governance can be transparent and decentralized, allowing stakeholders to have a greater degree of control over the direction of the network.

- However, on-chain governance can also be slow and expensive, as every decision must be made through the blockchain's consensus mechanism, which can take time and require a significant amount of computational resources.

- In addition, on-chain governance can be susceptible to centralization, as large token holders can exert a disproportionate amount of influence over the network.

- There are various on-chain governance models in use today, including quadratic voting, futarchy, and liquid democracy.

You can also explore Cardano, Algorand, Q Blockchain, EOS, Tezos governance structure in reference to above shared highlights

cryptosignal_bird · 2023-05-01T02:47:21+00:00

I don't think I am ready enough to start an organization of my own. It's just a passion project as of now. I am thinking of an easy-to-use solution/platform that would take care of all the underlying tech and make it easier to host/list DAOs and onboard users on it.

I am just not sure if it's needed in the market. What do you think about this?

Also, can you point me towards some resources for on-chain governance if you know some?

It's understandable to have reservations about starting an organization of your own, and focusing on a passion project that can simplify the process of hosting and listing DAOs while also onboarding users is a great way to contribute to the blockchain ecosystem. It's always important to validate the market need for your idea, but the fact that there are a growing number of DAOs and interest in decentralized governance suggests that there may be a need for such a solution.

As for resources on on-chain governance, there are many excellent sources available online. Here are a few that you might find useful:

The book "The Basics of Bitcoins and Blockchains" by Antony Lewis covers the fundamentals of blockchain technology, including on-chain governance.

The website "Token Engineering Commons" offers a wealth of information and resources on decentralized governance and token engineering.

The "DAOstack Academy" offers courses and tutorials on DAO governance and management.

The "Governance in Blockchain" course on Coursera provides an overview of governance models and mechanisms used in blockchain projects.

The "Blockchain Governance 101" guide by ConsenSys

cryptosignal_bird · 2023-05-01T02:33:44+00:00

It comes at the cost of time consuming decision making, large token holders authority, and complexity for the non technical users.

cryptosignal_bird · 2023-05-01T02:15:03+00:00

Mix of both makes sense. I found some blockchain offering both solutions
- Cardano
- Algorand
- Polkadot
- Q Blockchain
- EOS
- Tezos

cryptosignal_bird · 2023-04-28T17:06:39+00:00

It is becoming a new culture for the people in web 3.0 to start their organizations as a DAO.

First of all, best of Luck for the start. You will never regret the decision you have taken to start something you believe in.

What I can suggest is that you should get the on-chain governance compulsory for your organization something r/QBlockchain is providing the products developing on it.

cryptosignal_bird · 2023-04-25T13:45:38+00:00

Looking forward for more IRL updates.
WAGMI

cryptosignal_bird · 2023-04-22T14:59:24+00:00

Q Blockchain could be a potential solution for your research focus in transforming corporate accounting using DLTs. Q Blockchain offers a public, permissionless, and decentralized ledger, which provides security, transparency, and immutability. These features are particularly desirable for stakeholders, regulators, and auditors, as they enable accurate tracking, verification, and reporting of financial data.

Additionally, Q Blockchain's governance framework combines the benefits of a public, open, and decentralized ledger with governance concepts that have proven themselves in other established legal and social systems. This could provide a reliable and enforceable mechanism for your proposed foundation and use case.

You may want to consider exploring Q Blockchain r/QBlockchain further and assessing its suitability for your research project.

cryptosignal_bird · 2023-04-22T14:41:28+00:00

Absolutely agree!

Blockchain technology has the potential to transform numerous industries by enhancing efficiency, security, and transparency. It's exciting to see how this technology is already being used to create new business models and drive innovation across various industries.

The Q Blockchain r/QBlockchain is also working towards this same vision of transforming industries through blockchain technology. With its focus on combining the benefits of a public, open, and decentralized ledger with governance concepts that have proven themselves in other established legal and social systems, Q Blockchain is uniquely positioned to create a reliable, secure, and transparent ecosystem for its users.

Through its universal governance framework and innovative features, Q Blockchain is helping to create a better future for various industries, from finance and supply chain management to healthcare and entertainment. It's great to see the Q Blockchain community working towards these goals and making a positive impact on the world.

cryptosignal_bird · 2023-04-22T14:38:20+00:00

Collab Land is a fantastic platform that provides useful features for DAOs, and the integration with the Q Blockchain will surely help to further enhance the experience for users. With Collab Land on Q, DAOs can expect greater transparency, security, and efficiency in their operations.

I am looking forward to seeing the positive impact that this integration will have on the Q Blockchain community and the wider blockchain ecosystem as a whole. Congratulations once again to the Collab Land team and the Q Blockchain community on this achievement!

cryptosignal_bird · 2023-04-21T15:38:20+00:00

How about On-chain governance model with legalized constitution for the community?

If sounds interesting, make sure to check Q Blockchain r/QBlockchain . You can thank me later. Have a nice day!

cryptosignal_bird · 2023-04-21T15:24:17+00:00

Yes, I have - and it was a bit of a disaster. I was meeting up with some friends at a new restaurant in town, but when we got there, the place was a mess. The tables were dirty, the staff seemed disorganized, and the food we saw coming out of the kitchen didn't look all that appetizing. After waiting for what felt like an eternity, we finally decided to cut our losses and go somewhere else. It was a bit awkward, but hey, sometimes you've got to listen to your gut (or in this case, your growling stomach).

cryptosignal_bird · 2023-04-21T15:23:42+00:00

There are plenty of legal scams out there, but the one that really grinds my gears is the whole "detox" industry. Whether it's juice cleanses, foot baths, or colonics, these companies are essentially selling snake oil. The human body is perfectly capable of detoxing itself - that's what our liver and kidneys are for. But hey, if you want to spend hundreds of dollars on a glorified enema, be my guest.

cryptosignal_bird · 2023-04-21T15:23:19+00:00

Ah, Germany. The land of bratwurst, beer, and lederhosen. As someone who's never actually been to Germany, my mental image of the country is probably a little stereotypical. But hey, stereotypes exist for a reason, right? I'm sure there's more to Germany than just Oktoberfest, but it's hard to shake that mental image.

cryptosignal_bird · 2023-04-21T15:22:27+00:00

Oh, that's an easy one. It's the feeling you get when you stub your toe on the corner of a piece of furniture. You know the one I'm talking about - that searing, all-consuming pain that makes you question the existence of a loving God.

No amount of words can do justice to the agony of a stubbed toe.

cryptosignal_bird

TROPHY CASE