We are proud to announce next phase of the Bitcoin sCrypt Decentralization Project.
First there were decentralized transactions. Next came decentralized mining. And now we bring you our roadmap for decentralized development through democratization.
Decentralized Transactions – In the beginning, Satoshi Nakamoto gave us the Bitcoin protocol. This revolution in encryption technology ushered in a new era of decentralized, peer-to-peer transactions, and in doing so, provided a historic opportunity for free people to engage in cross-border commerce without restrictions or meddling from governments or central bankers. Similar to how the TCP/IP protocol democratized the flow of information, the Bitcoin protocol democratized the flow of money and provided a framework for other crypto-graphic currencies to build upon.
Decentralized Mining – Building upon Satoshi’s revolutionary development, Omega6 brought us Bitcoin sCrypt, an alternative to Bitcoin sha256, which was designed to ensure that mining remained decentralized in the face of threats of centralization from the rise of ASIC miners. By utilizing a GPU-friendly, ASIC-resistant encryption algorithm, Omega6 put Bitcoin mining back into the hands of the community and away from the hands of centralized capital-rich ASIC mining farms.
Decentralized Development – We now embark upon the final phase of our Decentralization Project by incorporating the third leg of the decentralization stool: “decentralized development.” By utilizing a decentralized proof-of-stake voting system we empower Bitcoin sCrypt stakeholders by democratizing development through Vanity Voting. With that, below please find our proposed roadmap to decentralize development.
Decentralizing Development through Democratization
We have developed a proposed plan-of-action to transition Bitcoin sCrypt from a developer-driven project to a community-driven project. We present this plan to the community for your feedback before we put this plan into action.
- Housekeeping Votes
- Vote on whether to keep current logo or hold logo contest
- Vote on whether to keep current AppData directory or revert back to old directory
- Vote on official currency code (i.e., BTCS, BTC, BTX, etc…)
- Logo Contest Vote (if community desires, as per item 1.A)
- Creation of Guiding Counsel or Foundation for Bitcoin sCrypt
- Vote as to whether to create in first place
- Vote as to formation or operating rules (i.e., top-down model? Anarchist-model? None at all? Supermajority to implement/change?, etc…)
- Vote on rules re voting
- Elections for positions on guiding counsel /foundation
- Direct votes on the incorporation of certain technical features to the client and/or protocol.
- Vote on whether to change mining algo once scrypt asic miners enter scene en masse
- Vote on whether to incorporate Zerocoin anonymity features once/if it’s released
- Vote on whether to change the difficulty retarget algo to make it less volatile and/or more profit-pool switching resistant.
- Votes on the inclusion of other features as they arise.
A few notes:
- I wanted to begin with the housekeeping votes because I want the community to have a say in the issues that I unilaterally changed when I developed v.220.127.116.11. The community should decide all development features, even those in the past.
- The order for the remaining items will be up to the community, as my list is simply a proposal.
- Certain votes, such as rules for formation/operation of foundation/counsel could be set up to require a super-majority (e.g., 60%, 66%, 75%) to change or implement.
- As the Vanity Voting process grows, we are willing to add or change proposed voting items and would even consider meta-votes (e.g., votes on what to vote for next) if that’s what the community wants.
- Votes could occur once every two-weeks, with votes announced on a Monday. Voting deadlines could be scheduled for Fridays, with run-offs, if any, occurring on Sunday.
Again, like all things Bitcoin sCrypt, we want this to be a community-driven effort and we look forward to all of your feedback, comments and concerns regarding our plan to be the first cryptographic currency to decentralize development through democratization.
We would like to spend a couple of weeks fine-tuning this plan with the community before the actual voting process and we look forward to your thoughts.
Detailed explanation of Vanity Voting can be found here.
Instructions for Vanity Voting can be found here.
Vanity Voting Proof-of-Concept Example Referendum can be found here.
Vanity Voting Vote-Explorer can be found here.
*Special thanks to Artiface for developing the Voting block explorer.