Becoming a DAO
How we keep Cryptos’ promise of a community-governed future
At Escrow Protocol, we are firm believers in a decentralized future whereby community-governed, fully trustless transactions are delivered at scale in a way that is safe, engaging, educational and importantly fun to use.
In keeping with this tradition, we are excited to announce that we have forged a partnership with StackOS so that all of our future deployments will be delivered via their decentralized cloud with no-code applications. Very soon we’ll be launching a dashboard on https://www.escrowprotocol.app/ taking advantage of this technology to allow users to exchange MATIC and Quickswap tokens for ESCROW.
StackOS is a cross-chain open protocol, connecting developers with decentralized compute power through a no-code, UI-Based application deployment engine.
We choose StackOS for many reasons, but the major benefits to working with them are these:
- A no-code, intuitive User Interface (UI) for our developers
- An open protocol that enables us to deploy and scale any app
- A decentralised cloud that provides trustless, secure and anonymous deployments
- Lower costs
- Speed & agility
- A burgeoning relationship with their team
This is an important step in the journey of the Escrow Protocol Foundation in becoming a true DAO: Decentralised Autonomous Organisation.
What are DAOs?
Ultimately, a decentralised autonomous organisation is not owned, ruled and governed by any centralised structure of power the way existing organisations are by, for instance, CEOs or Presidents.
Of course, DAOs have a team and leadership elements, but it is the community that votes on how it will be governed, rather than any single majority interests.
As such, it makes perfect sense that a DAO like ours would work with other organisations that share similar goals and ideals.
Why is it important to use decentralised clouds instead of centralised ones?
Blockchain technology enables transactions to be both public and anonymous, stored on a ledger for all to see.
When organisations use centralised clouds such as those offered by the mega-corporations of Google, Microsoft, Amazon and more, they are beholden to a number of limitations and restrictions that they would not be if they had taken the decentralised path. Examples include:
- Restrictive terms and conditions and terms of service
- Censorship of certain material
- Planned and unplanned downtime
- Lack of control and more
Important questions to ask are:
1) How does a decentralized network work, when you need a bank account to pay to the centralized cloud providers?
2) How do you enable a decentralized network when you need to give your identity to the cloud providers?
3) How do you pursue decentralization when you have one account on a cloud provider that runs your service? That being blocked will bring down your service.
4) Censorship of certain material, based on their convenience?
5) How do you control an expensive DevOps cost when you need 24/7 service availability?
6) How do you maintain security when the cloud architecture is so complex, that even top companies are getting hacked?
To help guide our community, we’ll be writing posts that answer these questions in the near future, so please follow us and keep an eye out for them.
Community-Governance & Rewards:
Holders of a DAO’s utility token are given voting privileges: they become more than just part of the community and can help shape the future of the organisation.
In addition to voting privileges, holders receive rewards in the form of dividends that are usually acquired via staking mechanisms: locking up your tokens for a period of time in exchange for a percentage reward.
How to get involved:
If you’re ready to learn more about the future of Escrow Protocol, please head over to our website and follow us using the links below: