The EOS co-founder Daniel Larimer introduced Fractally DAO which he hopes to become the DAO of DAOs and shared his vision of how this can happen so let’s read further in our latest cryptocurrency news today.
The popular software programmer and EOS co-founder Daniel Larimer announced the rebranding of his previous endeavors. In a press release, he noted that his new vision dubbed Fractally will deliver the original EOS Vision of 2017 to today’s crypto market. He claimed that Fractally will be a unique blend of a decentralized exchange, a social media platform, and a high-performance smart contract network as well as a decentralized governance process.
Accoridng to Larimer, the new project will be built on all lessons he built from his previous ventures like the one with the highest performance BitShares as well as his first decentralized social media Steem. Back in 2013, Larimer invented the concept of a decentralized autonomous company which Bitshares used to be built on. The term DAC is now popularly referred to as a Decentralized Autonomous Organization.
By using BitShares, anyone can distribute, create and exchange tokens with a simple user interface without the knowledge for coding. However, according to Larimer, Fractally will bring someting much better. He noted that Fractally will produce an EOS-based application that is just as powerful and easier to use while still incorporating more recent advancements ont the automated market makers. Steem was one of the top social media platforms because it provided rewards for users for posting. Fractally will build on the updated model of Steem’s structure to bring incentivized blogging to EOS while still reducing the potential for abuse.
Larimer noted that the new project will integrate the principles of decentralized governance that are outlined in his book where these principles have already been tested in the EOS community. In 2021, Larimer and his team tested the process of fractal governance by creating Eden on EOS and hosting elections that involved hundreds of people. According to the EOS co-founder, the experiment was considered successful by hosts and participants. The EOS-based blogging platform Violet.
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garden utilized the uniqueness of EDEN users to implement the Universal Basic Income practice on EOS and Larimer revealed that he has hired the founder of the platform to help with the launch of a social media platform for the EOS network.
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