With the acceleration of adoption, the blockchain ability to transform life in every sense – from the way we do business to division of labor, operating systems and collaboration methods – is becoming closer to being realized every day. If blockchain is the basis of a true digital model, management is the key to connecting the two worlds to and from the chain. Management encompasses itself and defines the functions of the blockchain, from organizational structure to implementation of workflow, voting and incentives.

Conceptually, control can be understood as connected and autonomous. The first is divided into protocol and contract layers. With the rapid diversification of the blockchain industry, governance is also evolving rapidly to promote new and innovative forms of collaboration, interaction, profit sharing and risk structures based on the unique value of each chain’s profits.

Existing management models inside and outside the chain
From this point on, I think there are several introductory points to consider when building management structures.

First, the digital world is inseparable from reality. Like the world outside the chain, chain management also includes a two-part structure, in which the ruling units act as capital for users involved in various democratic processes. Furthermore, management components outside the chain, such as server groups, nodes and other infrastructure, determine how the rights and interests of capital are taken into account. Management dictates the use of external resources, energy and human resources in the chain. They also create new identities, sharing practices and power relations. In short, chain management is a reflection of today’s paradigm and a vision for the future.

Second, the two worlds merge both within and outside the chain as the lines between social and corporate governance become increasingly blurred. While blockchain was initially more focused on financial management, this focus has shifted in recent years, with institutions and companies experimenting with blockchain to achieve better social management. As the line between corporate governance shrinks, the future of each chain will slowly but surely depend on the interests and will of the user base, increasing the speed of next-generation governance at the protocol level.

Third, the market is currently dominated by weighted voting, which tends to be more centralized, dynamic adjustments and third-party agents. Due to the significant decentralized nature of blockchain, chain management is highly dependent on a consensus mechanism for network selection, which can be understood as a negotiation method where the interests and rights of community developers, miners and token holders can be understood. … In the context of proof of work or proof of work, consensus, the focus is on workload. Confirmation of the parties’ work may require a high level of central authority and responsibility, instead of relying on code to independently verify the work of miners. Thus, proof of work is basically the same as traditional decision-making.

However, given the evidence of an interest rate vote, the following scenarios will allow for further democracy and decentralization:

A person, a voice depending on the personality.
Secondary voting based on identity.
Share the power of your voice.
Vote on transaction fees at the account level.
Reconciliation of transaction fees at contract level.
Nomination Committee.
Method of voting by a relative majority.
Other calculations related to security, including long-term contract maintenance, long-term point approval, long-term coin holders, oracles and customers.
Any combination of the above modes.
Fourth, there are still many design challenges associated with chain management. Under today’s control systems, power is usually concentrated in the hands of a few. Furthermore, low rankings also affect the network’s management efficiency and security. Thus, future innovations in management should address the aforementioned design team issues by providing stronger incentives to vote for stakeholders and introduce loosely coupled voting to ensure more representative management.

Overall, the current model shows that chain management represents a transformation of the economic and social organization in the digital world. With the advent of the digital age, people’s personalities are increasingly divided between different governance structures, rather than being in the hands of an organization.

Source: CoinTelegraph

LEAVE A REPLY