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Bittensor: The Thousand-Year Federation. Every decentralized network reaches the same threshold: When it stops being operated and starts operating itself. In this episode: • On-chain governance • Decentralized chain nodes • Community-ratified upgrades • Triumvirate proposal system • Validator and subnet voting power Watch →

12,549 Aufrufe • vor 7 Monaten •via X (Twitter)

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How ICP Token Holders Can Literally Vote To Upgrade The Internet Computer? Most blockchains rely on developers and node operators to coordinate when the protocol needs a major upgrade. The Internet Computer (DFINITY Foundation) takes a different approach. Its Network Nervous System, or NNS, puts governance directly onchain. Here is how it works: 1. ICP HOLDERS LOCK TOKENS INTO NEURONS internet-computer:native holders can lock their ICP into a “neuron.” A neuron is essentially a governance position that gives the holder voting power over NNS proposals. Voting power depends mainly on: • The amount of ICP locked • The neuron’s dissolve delay • The age of the neuron The longer a holder commits their ICP, the greater their potential voting power. 2. NEURONS VOTE ON NETWORK PROPOSALS The NNS allows neuron holders to vote on proposals affecting the Internet Computer. These can include: • Protocol upgrades • Subnet changes • Network configuration • Node provider decisions • Governance parameters • Changes to the network’s underlying software This is where the system becomes particularly interesting. NNS governance is not simply deciding how a community treasury should spend money. Some proposals can directly affect how the blockchain operates. 3. VOTING CAN TRIGGER ACTUAL PROTOCOL CHANGES A successful proposal can instruct the network to adopt an approved change. For example, NNS proposals can be used to upgrade the replica software running across Internet Computer nodes. Once the proposal is approved, the NNS can coordinate the upgrade across the network. That means token holder voting can ultimately result in the protocol itself changing. 4. HOLDERS DO NOT HAVE TO VOTE ON EVERYTHING The NNS also uses a system known as liquid democracy. Neuron holders can choose to follow other neurons for particular proposal categories. When the followed neuron votes, the follower can automatically vote in the same direction. This creates a delegation system without requiring users to give up ownership of their ICP. In simple terms: • Stake ICP • Create a neuron • Choose your voting preferences • Vote yourself or follow another neuron • Earn rewards for participating 5. GOVERNANCE PARTICIPATION CAN EARN REWARDS The NNS gives users an economic incentive to participate. Neurons can accumulate maturity through governance participation. That maturity can later be used to generate new ICP. This turns governance participation into more than just a voting mechanism. It becomes part of the network’s economic design. 6. THE NNS IS ITSELF PART OF THE INTERNET COMPUTER This is arguably the most important part. The NNS is not simply a website where the community discusses proposals. The governance system itself runs on the Internet Computer. Its rules, proposals, neurons and governance decisions are handled through onchain infrastructure. That allows governance decisions to become executable actions. 7. WHY THIS MATTERS FOR PROTOCOL UPGRADES Traditional blockchain upgrades can require significant coordination. Developers may need to release new software. Node operators need to install it. Validators or miners need to support it. Exchanges and infrastructure providers may also need to update their systems. If coordination fails, competing versions of the blockchain can emerge. The NNS is designed to reduce some of that coordination problem. The community can approve a proposal through onchain governance, and the network can then execute the approved change. 8. IT IS NOT ONE ICP TOKEN, ONE VOTE Simply holding ICP does not automatically give someone governance power. Users need to commit their tokens through a neuron. And voting power is not based solely on the number of ICP held. Factors such as dissolve delay and neuron age also influence voting power. This means the system rewards committed participation rather than treating every wallet as an identical vote. 9. SO WHAT MAKES THE NNS DIFFERENT? The key difference is that governance is built into the protocol itself. On many blockchains, governance can look like: Community discussion → Vote → Developers implement the decision. The Internet Computer aims for something closer to: Stake ICP → Vote through NNS → Proposal passes → Network executes the change. The NNS is designed to make governance part of the Internet Computer’s operating machinery. ICP holders therefore have a direct role in deciding how the network evolves. Under the right proposal, their votes can ultimately determine which software the network runs.

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18,482 Aufrufe • vor 1 Monat

AllStreetBets Partners with Wire Network to Build the World's Largest Decentralized Finance Community. 📌 AllStreetBets ($BETS), an emerging leader in decentralized finance, culture, and community, is thrilled to announce a landmark partnership with Wire Network. This collaboration represents a pivotal milestone towards a decentralized future for all, combining Wire Network's cutting-edge transaction technology, identity, and decentralized AI infrastructure with AllStreetBets' mission to enable financial sovereignty without censorship. 🤝 AllStreetBets ($BETS), co-founded by and Jaime Rogozinski, the visionary creator of WallStreetBets, is establishing a decentralized global powerhouse beyond the confines of Wall Street. By harnessing cutting-edge blockchain technology, AllStreetBets can surpass previous achievements and break free from centralization, censorship, and financial constraints. Wire Network has pioneered the world's first universal transaction layer for all blockchains, introducing a groundbreaking approach to transacting assets across all chains with low gas, high transactions per second, and eliminating the need for hazardous bridging protocols. First, there was on-chain; now, there is “on Wire.” Together, AllStreetBets and Wire Network will develop disruptive applications and technologies to enhance the value proposition of $BETS, offer unique products, and drive web3 tech adoption and community building. Wire Network's technology will seamlessly integrate with AllStreetBets' applications, providing secure and efficient transactions that surpass traditional on-chain methods. This partnership will expand AllStreetBets' ecosystem, granting access to hundreds of thousands of new users and unified liquidity pools. Our collaboration with Wire Network positions AllStreetBets at the forefront of innovation, merging blockchain, AI, and decentralized finance. We're excited about the potential this partnership holds to bring "first-to-market" applications to our community. For more information, visit our header link tree and follow to learn more about Wire.

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28,044 Aufrufe • vor 2 Jahren

Destra Network| True decentralized Storage solution How Destra Decentralized File Storage solves the centralization issues in Filecoin & IPFS Filecoin and IPFS have become synonymous with decentralized file storage, highly hyped alternatives to traditional centralized data storage systems. However, a deep dive into their architecture reveals a crucially centralized component: both networks rely on a set of centralized bootstrap nodes. Whenever a new node wants to join the Filecoin or IPFS network, it must first communicate with these bootstrap nodes to obtain information about other peers, placing complete trust in the provided information. The Filecoin team operates these bootstrap nodes on centralized cloud servers. These nodes serve as the initial points of contact for new nodes entering the network, acting as directories to facilitate the network's mesh topology, and thus are critical components of the architecture. Major Centralization Concerns: 1. Surveillance: Centralized nodes offer a concentrated point for surveillance. Authorities or malicious actors could target these nodes to gather data on user activities, node interactions, and network dynamics, posing significant privacy risks. 2. Central Control and Censorship: The operators of bootstrap nodes potentially wield significant control over the network. They can influence which parts of the network are more discoverable or enforce certain network rules, leading to a form of gatekeeping. This centralized control contrasts with the decentralization ethos of blockchain and peer-to-peer technologies. 3. Single Points of Failure: Bootstrap nodes act as central hubs through which traffic and connections are often routed, especially during the initial connection phase. This setup can create single points of failure. If these nodes are compromised, go offline, or experience technical issues, new nodes may struggle to integrate into the network, potentially taking down the whole network. At Destra, we are building the Destra Decentralized File Storage to ensure that such centralization or pseudo-decentralization has no place in our architecture. As always, we are committed to our vision of 100% decentralization, delivering an unprecedented level of decentralization to our users and the broader ecosystem. As we continue developing the Destra Decentralized File Storage, we will keep on publishing regular updates to our community.

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10,985 Aufrufe • vor 2 Jahren