Peerplays Tutorials, 23 Mar 2022

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From YouTube: Peerplays Autonomous Organizations

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What are Peerplays Autonomous Organizations? 😁👇 In this video, we go over the difference between DAOs and PAOs.
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Peerplays President Jonathan Baha'i goes over how Peerplays is incorporating autonomous organizations as demand for the feature grows and the space becomes more open to blockchain-based organizations.

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#decentralization #blockchain #crypto

A

Fear plays autonomous organization is what it stands for right, so, basically very similar to the dao right. Everybody knows what dows are, I hope and uh decentralized autonomous organizations uh are is, is coined within uh the ethereum network, uh so you will find dows, mostly in ethereum.

A

And how's in gear plays right, so uh doubts have been around for some time. However, uh the the amount of the amount of uh the amount of decision making that could be put into dowse generally follows the rules of proof of stake right.

A

So essentially, you would have an erc20 token uh within within the ethereum network, uh and that token would then feed into some kind of a smart contract right and the smart contract would be the thing which creates the dow.

A

Now, generally speaking, uh it's used essentially as a voting mechanism. So uh if there is some kind of uh again it's funny because the smart contracts are usually owned by a company right, and so they will end up putting out some kind of a question like um you know, should we introduce this new feature and then based on whatever tokens? Whatever the token the token distribution is the people who hold the tokens make the vote yes or no right, and then that's the dow.

A

It's a voting mechanism that again allows for the largest stakeholders to be able to determine what the direction is going to be uh because it runs on ethereum, it's decentralized right. uh So that's uh essentially how a data works. How on the other hand, the peer plays autonomous organization utilizes some different protocols?

A

Okay, uh first off, uh when pow is created, it's created from its birth decentralized from the the time that it starts. It actually takes. Multiple uh multiple inputs from multiple uh accounts within peer plays to actually create a pow, and the way that a pow is created is that it starts with a proposal which incorporates all the parameters which are all on chain so think of it.

A

Like you know the birth of a country there has to be a constitution, and so a whole constitution is created that creates all the various parameters of this will be the name of our token, and our token will allow you to be able to do xyz, and you know only so much of this will be allowed and so on.

A

So uh what will happen is that all of this gets put into a single proposal for a new constitution of a pow, and then it gets submitted to the chain, after that it requires multiple parties within the chain to actually agree on the on the creation of this new pow. When that happens, that is when a new token is created.

A

So it's a little different than a dao where uh on ethereum you created a token, and then you created a dow out of the token right to go with the smart contract. Instead, a pow is created which incorporates a token it already has by design it is. It is its own smart contract and the smart contract is on chain decentralized, so there is no owner of the smart contract.

A

So when you create something on pure plays uh it's different from ethereum in that it's not necessarily in the smart contract that somebody has the amin keys for it's on chain layer, one and uh the rules are baked into the chain once it's done. So this gives it real immutability and the parameters of the pow, then in order to change, need to be agreed on.

A

Amongst all the token holders, within the pow now how's that voted on using pop right, so pow gets its own proof of pulse consensus, which means that you don't have to worry about large stakeholders controlling the pow right, because this is what's happened historically with every dow in history.

A

What happens? Is a large stakeholders of the dao end up making decisions that enrich the large stakeholders of the dao and it's, uh and so the rest of the people who are involved in the dao feel disa they're? They they basically feel disenchanted, they no longer feel like they actually have decisions in the process uh and dows have been. I mean, there's dows and there's dax as well decentralized, autonomous organ uh decentralized, autonomous companies, um which is another term. That's popular.

A

uh The same thing happens: people who are smaller stakeholders just don't participate, because the large stakeholders are gonna, make all the decisions for them and no matter what they do. They're not gonna, be able to change it and then the things that do get approved end up actually enriching the people who have the most stake.

A

Meanwhile, the people less stake are left out left out of it using proof of pulse once again, um thanks to the humanomics of it allows for everybody to participate. So even if somebody creates a proposal for the pow that uh that they that they could possibly benefit from it would it would what happens? Is the pow is gonna randomly then reach out to the entire network, and so that could not include them.

A

It could possibly not include them to be able to be part of that decision-making process, and the great news is that it doesn't matter how many tokens there are, because the decision-making process will be a micro decision process between multiple between multiple holders, so everybody gets to participate and actually have meaningful input to the governance of the pow. So what we're dealing with here is decentralized governance, and this is the big problem that blockchain continues to need to address.

A

um It's not very popular simply because nobody has any good answers. Nobody wants to. Let you know that. Well, this is how dows actually work. This is how taos aren't so decentralized.

A

These are the, uh and I see it all the time where everybody's like yeah. Well, you just have to make sure that you have the right kind of community, that's going to get behind it and you got to encourage them to no. It's not going to happen like it's that we're talking about human nature.

A

You just there's a reason why the same thing that happens in daos is the same kind of turnout that you expect from voter turnout just for regular governments, because the dao has the similar kind of design to centralized systems that we see today. So the only thing that really makes it decentralized is the fact that it's running on ethereum and while ethereum is all all fine, it's great that it is a decentralized you know, blockchain uh the fact that the rules that are running on the chain are not decentralized, doesn't really fulfill on that promise.

A

Now the only thing that really another factor to the dow that makes it decentralized, I suppose, is that there's nobody who's gonna, stop you right. It's open to everyone like everyone can participate in this.

A

Hopefully I mean I don't know about the owner of the smart contract.

A

Maybe they decide, you got a kyc or something yikes, so I don't know I don't know, what's gonna happen there, uh but I've seen I've seen scenarios like that where it's like uh the only way that you're gonna get that erc20 is, if you kyc and the kyc goes to the owner of the smart contract and ultimately you're still under their thumb.

A

So fair plays autonomous organizations really are focused on creating a real decentralized organization that has everybody participate. There's no, uh there's no way for this to uh end up being controlled by nothing but the token holders uh or nothing but the top token holders, and it's all on chain.

A

So this is going to be very big for pure plays in its future, because I see how there's more and more demand for this as we're going forward, the need for decentralized organizations is just growing and unfortunately it's a problem that is has just not been tackled very well so far. This is our take with it. uh This is how pure plays wants to present like this is what pure play's contribution to the whole spaces and, of course, as we connect to other blockchains.

A

uh This will be a feature which they will be able to use right. So if, uh if it's bitcoin right uh now, bitcoin with pureplace connected to bitcoin is now going to be able to create pause which allows you to be able to use your bitcoin as part of your consensus for your decentralized organization, whatever it may be, it could be your local club, it could be, uh it could be a business, it could be an online community.

A

uh You could be running a youtube channel and you want to have all your you want to have all your uh followers join your pal right. So what a great way to be able to protect? uh You know protect your your followers so that they don't get deleted by youtube overnight. So there's a so.

A

This is something which every other chain that connects with peer plays is going to be able to utilize, and that means that care plays effectively is going to be helping the rest of the space to be able to build their own autonomous organizations.