The biggest problems surrounding decentralized blockchains right now is the issue of governance. How should it be carried out, and who should be placed in charge of ensuring a reliable and honest process. Different blockchains have taken distinct approaches to make governance on blockchain as effective as possible. However, some accomplish this goal better than others.
Once you’ve differentiated between Proof of Work (PoW), Proof of Stake (PoS), and Delegate Proof of Stake (DPoS), you realize that these are generalized for entire chains. Certain organizations may require a different kind of governance for their business operations or organizational activities. To cater for their unique governance needs businesses are forced to either outsource developers to help build an independent on-chain governance model or build it themselves. Telos Decide offers organizations another alternative.
Telos Decide is an on-chain governance engine that’s built exclusively for the Telos Blockchain Network. It offers a wide variety of voting functions to a diverse group of organizations, developers, and general users – all in a single chain-wide service. It is a well of voting tools that all these entities can tap into for their diverse governance needs.
- Token development
Developers can create their own tokens and control how they’re distributed.
Users can also create a custom token treasury that inherits Telos Decide’s range of voting services by default. These govern the creation and distribution of tokens, and can have customized features like whether the token is transferable, destructible (burn), stakeable, or reclaimable.
- Deployment flexibility
Tokens created on the Telos Decide platform also inherit its features, counting as votes when they’re used to vote on a certain matter. Thus tokens that inherit Telos Decide’s features can be representative of shares in an organization, and much like shares; the more tokens an individual has, the stronger their voting power. Voting features can also be customized.
- Contract hooks
Since Telos Decide is a chain-wide service it will broadcast ballot results throughout the entire chain. For developers to capture these results they can ‘hook’ their contracts to the service in order to immediately act on them, eliminating the need to do manual table look-ups.
- Committee management
Any active token treasury and its voters can create a committee and its management actions from the wide range offered by Telos Decide. Any organization or business can connect their smart contracts to Telos Decide’s committee tools to gain its benefits and have complete on-chain management of committees and their members.
- Profitable worker economy
The Telos Decide platform has network requirements which need maintenance and workers are incentivized to carry out those services. Workers are paid in TLOS tokens proportionately to the amount of work they’ve done.
- Light ballots
This ‘light ballot’ service saves RAM resource costs for both the platform and voters by moving the vote tracking process off-chain. These off-chain ballots still retain their traceability and auditability.
- Advanced voting methods
This is where voting capabilities of a token get customized. There’s different kinds of features that developers can add to a ballot to determine how a voter’s token balance interacts with the ballot/voting process. Votes can be counted in either of these options: 1 account/1 vote, 1 token/1 vote, quadratic, etc. This provides the flexibility that many unique organizations will require to suit their organizational styles.
[EDIT: Please be advised that Telos Decide and Trail Voting System form part of the same service, just that the former is a rebranding of the latter. This article was researched from different published sources and these contained differing information under these two titles.]
Trail Voting System
Traditional businesses still have a hard time transitioning the operations to the blockchain. They need to hire blockchain developers who specialize on that particular blockchain. Even then because of limited knowledge, businesses have little recourse to validate the quality and safety of the end product.
That’s where the dBusiness creation tool called the Trail Voting System comes into play. It is a Decentralized Autonomous Corporation (DAC) creation tool kit that makes it easier for a developer to setup a powerful custom built decentralized organization. Developers can even find templates which they can start building these organizations upon.
Once a dBusiness has been created it can then employ any of the Telos Decide services into its business and organizational operations. Again these services can include committee management tools for electing board members or voting on whom should be assigned control of company assets. These tools have the benefits of a fast, fee-less EOSIO technology.
Couple that with the fact that all votes on a blockchain are traceable, the fact that Telos is powerful enough to scale and that the Trail Service code is maintained by Telos core developers. Meaning businesses and/or organizations need not worry much about having to validate the quality and safety of its functions.
Telos Decide is of great value in bridging the gap between traditional organizations and businesses, and the blockchain. At this current point in time there’s a lot of uncertainty about the safety and stability of blockchain services. Traditional entities are hesitant on making the transition as there’s little incentive to do so and this is made worse by the lack of development knowledge of this large and diverse space.
These two solutions complement each other in helping developers and organizations from the first step – to – the last one.
Developers don’t need to worry about user registration, token management, and vote tracking as that is automatically handled by Telos Decide. All developers need to do is create smart contracts to connect with Telos Decide in order to draft, launch, and retrieve ballot results.
Organizations can be at ease knowing they can trust in the security of a decentralized blockchain and be able to transparently track crucial ownership and dBusiness activities on the Trail Voting System. Not forgetting more of the benefits offered by Telos Decide such as control over token distribution and behavior to help adjust to regulatory needs.
Thank you for reading!
Disclaimer. EOSWriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.