The Community-Owned EOS Block Producer
and DAC Enabler
Watch this simple one-minute video explainer to find out more about eosDAC
The EOSIO Software being developed by Block.one facilitates the first highly scalable smart contract blockchains, with transaction fees covered through small levels of token inflation. This allows the development of genuinely scalable decentralised applications, and online/onblock businesses which are owned by their communities.
Instead of ‘mining’ on the Proof-of-Work algorithm like Bitcoin and Ethereum, EOSIO blockchains use the Delegated Proof of Stake algorithm, whereby token holders vote in 21 main block producers and reserve producers. These block producers require major infrastructure to handle enterprise class decentralised applications and need to be significant entities capable of scaling as required. Block producers are paid through the limited inflation of EOS tokens in circulation.
Introducing the Decentralised Autonomous Community (DAC)
A Decentralised Autonomous Community (DAC) is governed by its constitution, which is encoded in smart contracts on the blockchain. This revolutionary way of bringing a community together as a cooperative is made possible by the EOS software. The DAC is controlled by its token holders and the board members they vote to run its operations.
The Community-owned EOS Block Producer
It is the vision of eosDAC that EOS.IO block production should be open for everyone to contribute and benefit. To realise this vision, eosDAC is an evolving Decentralised Autonomous Community (DAC) focused on EOS.IO Block Production serving the EOS communities worldwide. In doing this, eosDAC will create the tools and smart contracts it needs to function. It will share these with the EOS communities to help other DACs thrive on the EOS.IO blockchains.
eosDAC is creating a DAC on the EOS blockchain at the beginning of July 2018, until then eosDAC is being run by its Team. Members of the Team have been deeply involved in the EOS community for the past 6 months and are already producing blocks on EOS community testnets. eosDAC tokens exist have been successfully transferred to the EOS blockchain.
Transparency Of Services
Majority-Owned by the EOS Community
eosDAC tokens were airdropped at a rate of 1:1 to the EOS token holders as of the 15th April 2018. The rest of the tokens were given to the Launch Team, Advisors, Community Supporters and eosDAC Ltd. Without whose contribution of time, energy, and financial resources eosDAC would not have come into existence.
eosDAC Network Architecture
The key object has been to achieve a wide geographic and jurisdictional coverage with block-production infrastructure deployed in the United Kingdom, Romania, Gibraltar and South Korea. The Launch Team will continue to use its considerable experience of high-level data centre operation and Tier 1 inter networking design & implementation to ensure shortest latency, maximum efficiency and solid redundancy within our network architecture.
eosDAC Core Principles
(Code Of Conduct)
Excellence of Service Provision
The primary objective of eosDAC is to ensure that it is able to continuously produce blocks required by EOS.IO software driven blockchains.
Openness and Transparency
All decisions made by the eosDAC governance structures and all operations of eosDAC will be open and transparent.
Support of EOS Communities Worldwide
We want EOS.IO blockchains to flourish so we will engage with EOS communities with a view to initiating and supporting projects that benefit all EOS.IO blockchain communities. This will include tools for other DACs.