ESPOUSING ON THE OIKOS GOVERNANCE PROCESS
Every sector and every system requires the best form of governance for it to attain the desired level of success. The cryptocurrencies too requires governance because it's services are meant to offer better value when compared to erstwhile fiat currency banks. Cryptocurrency was developed with the sole aim of giving users total control over their hard earned funds. During the inception of cryptocurrencies in 2009, the pioneering coin Bitcoin and coin where governed by the proof of work mechanism.
The incorporation of governance mechanism was a deliberate attempt to eliminate the challenges of sectoral traditional financial policies that slow down the operations of fiat banks, crypto governance is meant to establish an authentic transaction confirmation and network support system. Overtime other governance enabling features like proof of stake systems, masternode protocol have been created to consolidate on the gains of the erstwhile proof of work and then create very efficient governance process.
It's 2020 the oikos is the new synthetic cryptocurrency asset platform that is poised towards creating a real-time chain exposure to fiat currencies and stocks, using the peculiarities of blockchain technology. This is a good development but can only attain the expected efficiency level if there's a decentralized decision making protocol to oversee and control it's activities.
ABOUT THE GOVERNANCE PROTOCOL.
The oikos was developed with a need to make it create wealth for it's enthusiastic contributors, so it's governance protocol is meant to squarely focus on the network contributor's, developing workable proposals subject to community consent.
This process is described as the oikos improvement proposal(OIP). It comprises of all the key protocol descriptions, Tron contract specifications and network contributor's APIs
LAYED DOWN STAGES FOR THE OIKOS IMPROVEMENT PROPOSAL.
(1) The Wip
This stage is the very basic of it all, it describes an improvement proposal that is at the development stages, the network contributor is expected to include a valid address for identification purpose, it is also the stage in which client has the allowance to carry out sales pitch that is capable of boosting the proposal acceptance level.
(2) Proposing stage
This stage preceds the WIP stage, it's meant to qualify/certify submitted proposal for the process of governance review. Detailed viability of the proposal is carried out at this stage to ascertain the strengths of proposals in relation to the oikos development protocol.
(3)The Approval or rejection:
After having carried out a viability analysis on the proposal by taking different parameters into cognisance, the oikos community is at liberty to either accepts or reject the submitted proposal, in ensuring proper scrutiny, the network of contributors are duely triggered to also check the proposal before approval or rejecting it.
(4) Implementation Stage
This is the stage of ease because it comes only if there was an approval of the proposal at the previous stage.
The oikos network is meant to instill complete decentralized operations within the system, this is meant to in no small increase the spate of credibility within the confines of it's community and the entirety of the crypto-space. It completely eliminates any basis for legal, financial and geographical limitations existing before now.
CONCLUSION
This article is a conscious attempt towards espousing on the oikos governance mechanism process, it's a developmental process because it occurs in stages and segments, oikos governance is about asset selection and wealth generation process. By relying on the oikos network, the oikos community can seamlessly create proposals that are in tune with project goals and to crown it up this processes are carried out with full decentralization, system governance is established by active participant within the network.
For more information visit:
Website: https://oikos.cash/
Litepaper: https://docs.oikos.cash/litepaper/
ANN Thread: https://bitcointalk.org/index.php?topic=5241400
Twitter: https://twitter.com/oikos_cash
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Author
Bitcointalk username: Amedon
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2819569