Decred Adds First Intelligent Proposal System to Advance Blockchain Governance
October 26, 2017
System Powered by Politeia, a Standalone Tool for Storing Off-Chain Data That Is Both Versioned and Timestamped for Broader Use in Record Storage, Identity Systems, Supply Chains
[Chicago, IL October 26, 2017] Decred, an autonomous digital currency, has launched the first intelligent blockchain proposal system. Powered by Politeia, a standalone tool for off-chain data storage, the system sets a new standard for blockchain governance, allowing anyone in the community to submit a formal proposal that will be timestamped and versioned in an off-chain repository. The launch comes on the heels of Decred’s announcement of atomic swaps, a methodology to allow for ad hoc transactions outside the centralized exchanges.
“Decred has been setting a new standard as one of the most progressive blockchain projects,” said noted Bitcoin developer, Jimmy Song. “Their proposal system arrives at a time when the industry could benefit from the openness and formalization that Decred is promoting. I look forward to the exciting projects that will come from this system. I am also eager to see how competing blockchains will rise to the occasion.”
“We are more committed than ever to a sustainable and fair system of governance,” said Jake Yocom-Piatt, Decred Project Lead. “For Decred, Politeia will provide an off-chain public record of proposals, comments on proposals, and stakeholder votes. Although Decred will be using Politeia in a public capacity, it can provide similar utility as a private unalterable store of data. Public and private use-cases include document and record storage, reputation and identity systems, and supply chains.”
Users should note that while Politeia can be used without holding any Decred, it does depend on using a dcrtime server for creating timestamps. A more detailed technical brief has been posted on the Decred Blog. Users who require additional assistance can talk to the Decred team at: twitter.com/decredproject.