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From YouTube: Bisq DAO in Brief: Technical Overview
Description
How does the Bisq DAO actually work? It's built on the Bitcoin network, but what does that actually mean? In this video, we cover how Bisq DAO data is stored, and what happens behind the scenes in each DAO voting phase.
Give the DAO a go right now:
👉 https://docs.bisq.network/getting-sta...
We've collected a bunch of other resources to learn about the DAO here:
👉 https://docs.bisq.network/dao.html
A
A
The
big
idea
here
is
that
every
dowel
action
is
an
on
chain,
Bitcoin
transaction,
so
buying
and
selling
vsq
making
a
proposal
voting.
These
are
all
Bitcoin
transactions,
but
some
of
these
transactions
come
with
extra
data.
For
example,
proposals
have
additional
input
data
like
the
name
of
the
person
making
the
proposal
and
a
link
to
more
details,
and
that
data
needs
to
be
stored
somewhere
turns
out
bisque
stores
this
data
right
in
its
own
peer-to-peer
network,
so
that
makes
two
components
to
the
data
model
for
the
bisque
dowel.
A
Now,
let's
take
a
look
at
how
that
looks
and
why
both
components
are
so
important.
Here
is
a
basic
depiction
of
a
proposal
in
the
bisque
down
on
the
Left.
You
can
see
how
it's
stored
on
the
Bitcoin
blockchain
and
on
the
right.
You
can
see
how
it's
stored
on
the
best
peer-to-peer
network
I
want
to
point
out
the
connection
between
the
two
items
on
the
right.
In
the
proposal
details
you'll
see
a
transaction
ID.
This
w6c
string
matches
the
transaction
ID
on
the
left
for
the
Bitcoin
transaction.
A
Furthermore,
the
upper
turn
output
in
the
Bitcoin
transaction.
This
ldt
string
matches
the
hash
of
the
proposal
details
item
on
the
right,
so
the
result
is
that,
if
you're
a
troublemaker-
and
you
want
it
to
sabotage
the
bisque
Dao
and
change
people's
proposals,
you'd
have
a
tough
time
because
the
hash
that's
calculated
of
the
proposal
details
object
when
it's
first
created
is
stored
on
the
Bitcoin
blockchain.
So
any
changes
you
make
will
change
the
hash
and
won't
match
the
hash
on
the
Bitcoin
blockchain,
and
the
proposal
or
new
proposal
will
be
invalid.
A
So
there
are
two
practical
results
of
this
data
model.
The
first
is
that
we
use
the
immutable
nature
of
the
Bitcoin
network
as
a
record
of
integrity
for
this
state
of
the
best
Dao.
For
example,
nobody
can
change
the
content
of
a
proposal
after
it's
made.
The
second
is
that
it
preserves
the
sovereignty
of
every
bisque
user.
A
The
Bisco
is
a
mechanism
for
reaching
consensus
with
other
people,
but
since
all
data
is
distributed
on
the
Bitcoin,
blockchain
and
bisque
peer-to-peer
network,
any
bisque
user
can
connect
a
full
Bitcoin
core
node
to
bisque
and
verify
the
state
of
the
dowel
for
themself.
There's
no
need
to
trust
anyone
to
determine
how
much
bsq
you
have,
or
anyone
else
has
what
the
results
of
a
vote
should
be,
etc.
A
Now,
let's
go
over
the
voting
cycle.
The
voting
cycle
is
the
heart
of
the
bisque
down
it's
how
decisions
are
made
and,
crucially
how
new
bsq
is
issued.
There
are
four
phases.
The
proposal
phase
blind
voting,
vote
reveal
and
vote
result.
The
length
of
each
phase
is
measured
in
blocks
on
average.
The
proposal
phase
should
last
about
3
to
4
weeks
and
the
other
phases
should
last
about
a
couple
of
days
now,
we've
already
covered
the
practical
side
of
this
process,
how
it
works
for
users,
but
what's
happening
in
the
background.
A
During
the
proposal
phase,
any
user
can
make
a
proposal
contributor
or
trader
when
a
user
makes
a
proposal.
The
proposal
data
is
broadcast
to
the
bisque
peer-to-peer
network
and
the
hash
of
that
proposal
is
included
in
the
corresponding
Bitcoin
transaction.
During
the
blind
voting
phase,
users
cast
their
votes.
Votes
are
encrypted,
hence
the
term
blind
vote
and
then
broadcast
to
the
best
peer-to-peer
network.
A
hash
of
the
vote
is
stored
in
the
corresponding
Bitcoin
transaction.
A
During
the
vote
reveal
phase
bisque
clients
make
a
Bitcoin
transaction
with
their
vote
decryption
key
as
a
user.
You
don't
have
to
do
anything
during
this
phase.
The
bisque
client
will
take
care
of
making
the
Bitcoin
transaction
on
its
own.
Just
make
sure
your
client
goes
online
during
this
phase.
To
make
sure
this
happens,
and
then
in
the
vote
result
phase,
each
bisque
node
will
calculate
the
result
of
voting
based
on
all
ballots.
It's
gathered
from
the
bisque
peer-to-peer
network.
A
Now
there
are
lots
of
nuances
here
that
I've
left
out,
for
example,
since
the
bisque
peer-to-peer
network
is
a
distributed
system,
it
has
eventual
consistency,
meaning
that
you
can't
rely
that
every
bisque
node
will
have
a
complete
collection
of
all
data
at
any
given
time,
and
so
that
complicates
the
implementation
of
some
of
these
steps.
But
these
nuances
are
beyond
the
scope
of
this
video.