Steem.DAO comes on 27. August – Steemit is planning extensive Updates

The decentralized Social Media platform Steemit want on 27. August is a Hard Fork in it. The goals are ambitious: Steemit wants to establish with the Update, a decentralized organization, i.e., a so-called DAO. It's already the 21. Hard Fork for Steemit.

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Steemit for the 27. August of this year, an Update announced. According to the press release, the Update aims to ensure the Funding of resourceful developers. Because of the Hard Fork Community members can contribute in the future, proposals for projects you want to realize on the Steemit Blockchain. By means of a special electoral system, those Users have users deposited Steem Dollars (SBD) (her stalked), on the proposals. Supporters, there are plenty of the project will be implemented.

Steem.DAO

The new System operates under the Alias Steem.DAO (Steem Proposal System). In Blockchain-circles DAO for Decentralized Autonomous Organization, such as a decentralized Autonomous organization. For those who are already involved a little longer, should ring bells when you hear the word DAO, however, the alarm. Finally managed to steal in June 2016 Unknown over 50 million dollars in Ether (ETH) from the stocks of the DAO. The incident, wrote under the heading of DAO Hack crypto-history, since in the course of which the Ethereum had undergone Blockchain Hard Fork.

A similar danger does not exist for the Steem Proposal System.

Steem.DAO has Similarities with the infamous Ethereum DAO. The Steem Proposal System (Steem.DAO), but has none of the security vulnerabilities of the original DAO [...],

it is said in the press release.

The Voting System to function according to the contents of the press release is fully automatic – just on a decentralised basis. This means that proposals will find enough support, get Funds automatically from the Steemit Blockchain allocated. Annually, the company wants to pay for new projects between 1.5 and 2 million dollars. The goal is that the developer can Fund your project in its entirety with the SBD.

The Steemit Proposal System is the best way to support entrepreneurs and Steem users who want to implement projects on the Steem Blockchain. This is a big step for the development of the Steemit-platform,

the Senior can-Blockchain developer Michael Vandeber quote.

In our Special digital identities, we take the decentralized Blog Steemit more closely.

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