Fourth, The role of the core team of the Chainless System

Enter the white paper series

We start today to unveil the mystery of the chainless system and introduce the relevant contents of the white paper. Many programmers have had close encounters with Bitcoin and ended up empty-handed. We are destined to meet each other and believe your wealth is proportional to your cognition. Our airdrop design does not require you to spend money, but you must spend time reading articles to improve your cognition and contribute to your strength; otherwise, you will miss wealth. Interpreting the innovation of chainless systems” is divided into five sections.

Introduction

The WEB3.0 chainless financial platform is referred to as the chainless platform. Its design breaks out of the constraints of the blockchain, and there is no limit to the impossible triangle of the blockchain. Cryptocurrency is better than advanced ideas, but its development is slow. According to statistics from PANews, at the end of 2022, there are 1,259 active DAPPs in Ethereum, which is really pitiful. The chainless platform adopts the idea of ​​cryptocurrency and designs a transparent and centralized platform. The external characteristics are no different from the blockchain ledger. It is also a platform that implements openness and fairness and cannot be tampered with. Only in this way can the design compete with the ease of use of Web2, be popularized on a large scale, and make the number of DAPPs jump by an order of magnitude. Chainless design has no technical innovation and uses mature technology; it has unique innovations in products, incentives, communities, and core teams. This series has 5 sections in total. One is product innovation; the second is production relationship innovation; the third is business model innovation; the fourth is the role of the core team; and  the fifth is the Interesting Reads Chainless Platform.

Fourth, The role of the core team of the chainless System

A chainless community is a community that uses coins as a link

This section is excerpted from Chapter 4 of the Chainless White Paper, “4.3.3.5 Relationship between the Core Team and the Company.”

Satoshi Nakamoto created a new production relationship using Bitcoin as a link, integrating computing power, programmers, and users. Its value is the “Watt steam engine” of the information age; the community’s development breaks traditional companies’ boundaries and requires A new form of social organization suitable for the new production relations – a community with a coin as the link.

The Ethereum Foundation is the core team of the Ethereum system

We see that the Ethereum Foundation has the ultimate responsibility for system security, fund allocation, and future development, and they also have legal and other personnel. The Ethereum system does not have a user community, while the chainless System has a user community.

When users of Ethereum have problems, they rely on mutual acquaintances to solve problems. Chainless assessment of group owners and long-term rewards based on performance is to allow them to serve the group members. But for problems that group owners cannot solve, someone still needs to study policies and make product improvements to solve the problems. Only when someone is finally responsible can the whole logic be complete. From the perspective of the Ethereum Foundation, it is a company structure without equity, which can now also be understood as the core team. Who is ultimately responsible for the operation of the chainless System? A core team is needed.

The core team has operational rights

The operating structure comprises a core team with profit income and investment rights like Buffett but does not have project equity and complete control rights. It mainly exercises ecological management power through influence. This structure is not a company in the modern sense because the entire form of a modern company does not exist and cannot be regulated by current company law.

The chainless core team also has no equity or control over the chainless project, only operational rights, and is ultimately responsible for the operation of the chainless System. This operating right should not exceed the existing practice of Ethereum, and every innovation must be cautious. The ideal situation is for the core team to become smaller and smaller. This kind of community decision-making, organized and operated by a core team, is similar to an elected government, but the scope is different. Here, it is just community management and operation.

Checks and balances on the project side

We have one more project sponsor than Ethereum. This project sponsor is equivalent to Satoshi Nakamoto. The Ethereum Foundation is equal to the leader of the Ethereum community, similar to the chainless core team. The project sponsor party does not participate in daily management but assumes the cornerstone responsibility for project development. Satoshi Nakamoto still bears this responsibility. The project party plays the role of checks and balances. We cannot see this kind of checks and balances in Ethereum. A power without checks and balances will eventually do evil. That is the risk of Ethereum. The community, team, and project party are not only a community of interests but also have a check and balance-relationship.

Exit of founders

As founding members, Mr. Zhu Weisha, Mr. Zhang Hai, and others representing the project side will gradually withdraw from the core team. The community elects successors. The highest ideal is to make the project run automatically like Bitcoin. Satoshi Nakamoto left in about two years. Our System is more complex than his, and a target of 3-6 years is appropriate. The core team’s design fails if the founding members cannot leave. It will also fail if you employ a lot of people. Judging from the comparison with YouTube, the structural competitiveness of Web3 is demonstrated by ought less than 100 people. There is a spontaneous mechanism in the market, and the purpose of management is to make the spontaneous mechanism smoother rather than to inhibit the development of the market mechanism. Small governments and big societies require automated operations. Manual intervention in processes is to assess the results of automated operations and make improvements based on the results.

Autonomous systems require artificial intelligence

How should a community beyond a company be run? YouTube is the best-run community project in the Internet field, with 50 million broadcasters and 2 billion users. Management is entirely quantitative indexation. She is our role model when it comes to community stewardship. The automation of the cryptocurrency project ecological community is currently completed using decentralized autonomous organizations (DAO), but it is not yet practical. DAO is an on-chain smart contract with great limitations. Ethereum does not use DAO for fund allocation. We need to design quantitative indicators for the chainless platform to allocate funds. For example, if other project APPs attract traffic to the chainless System, we will pay them. This indicator can be quantified. Smart contracts are not enough for the basic operations of ecological communities; artificial intelligence is needed. Now, there is no established model, and further innovation is required.

Regarding the incentives of the Web3 ecological community, no mature solution can be used as a reference for improvement. Due to the unique nature of the coin-issuing, it is perfect to link the ecological team and the project ecology closely; this point differs from the Web2 project. How to use this feature well must be explored and verified in practice. One thing is sure: the allocation of funds must be locked through smart contracts to achieve the goal of automatic distribution.

Community mechanisms must continue to develop intelligently

Projects have a development and maturity period, and the corresponding strategies are different. The community is a democratic practice, and the group owners will enable delegated voting. As long as the group owners are dispersed enough, the vote will reflect the true intentions of the community. The shareholders’ meeting of listed companies is held once a year. Small shareholders lose their right to speak in the company, but the power of small shareholders to vote by proxy has been realized in a form that transcends the company’s decision-making mechanism. The effective management mechanism of the community is instructive for the effective management of society in the future.

In short, we emphasize that communities transcend company boundaries and transcend the company’s organizational structure. Traditional companies have the separation of equity and operating rights. The community brings together “equity,” control, operating, and usage rights. Users are shareholders and employees, and operators are supervised in real-time. The meaning of this operating right is very different from the concept of company operating rights. YouTube has no regard for the broadcasters, and the hosts do not enjoy the equity interests of YouTube. The core team of the chainless System manages the community, which is equivalent to YouTube’s management of broadcasters and is equal to being entrusted by hosts to manage projects. This proxy is equivalent to a representative vote, and a community vote makes the decision.

In the future, the core team can manage the community as an operating company (Execompany), using Satoshi Nakamoto’s ideas, YouTube’s methods, and intelligent management based on indicators. Market competition is its fundamental mechanism and represents the most advanced community management. Web3’s community management must continue to improve its intelligence level. We will automate community management by releasing relevant robot management software tasks.

Summary

Since Web3 is a very new field, the explanation in the core team section makes it easy for everyone to understand the role of the core team.

The cryptocurrency field has concepts of ownerless communities and owned communities. The ownerless community is an ideal state. Its checks and balances are reflected between the mining community and the core programmers, reflecting the high degree of automation of the System. For a fully automated system, not even a community is needed. Who has the authority to improve a system that cannot be fully automated? Obviously, everyone involved in the System has rights. For systems that rely on communities, communities have the ultimate power. The core team is equivalent to property management and is a management organization that serves the community.

The core team is the actual controller in the host community. Without checks and balances, expanding the power of entrusted management is easy. In a chainless system, a checking and balancing force is formed through the project initiator, which makes up for the lack of checks and balances in Ethereum.

If Web3 wants to succeed, it depends on two mechanisms:

1) Use artificial intelligence to reduce the entire operating cost and realize the automation of benefit distribution.

2) Select talents and applicable projects worldwide through the community’s market competition and coin issuance mechanisms.

Intelligence and community autonomy make the core team small. The project generates huge distributable benefits, making it possible for participants to make money independently. The quality of a Web3 project can be judged simply by the size of the core team and the level of community operation. The smaller the core team, the better; the larger the community, the better.

The complete withdrawal of the founding members marks the formation of community autonomy, and the project sponsor always plays a cornerstone role.

If readers don’t understand the community, you can read “What Satoshi Nakamoto didn’t think of, what he didn’t say… Series 4: The cryptocurrency community has a long way to go” (chainless.hk).

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