The Binance Smart Chain project is a new and innovative attempt at decentralizing the cryptocurrency industry. Orakuru started by using blockchain technology to disrupt traditional escrow services, but has since progressed into developing decentralized autonomous organizations (DAOs) on top of their platform. By introducing DAO’s for all projects in an open source manner, they hope to create trustless ways for people with different interests across industries to work together without having the need of third parties.
The “boson protocol explained” is a project that has been in the works for a while. It was created to provide an alternative to Ethereum, which is currently having some issues with scaling. The project will be transitioning into a full-fledged DAO soon.
Orakuru declared in a paper released on Tuesday that it would be undertaking its most significant update yet, increasing its development and shifting to a fully independent decentralized organization (DAO).
The Binance Smart Chain-based oracle system will test and then formalize all of the modifications in its Whitepaper 2.0, with the revisions slated to be implemented in the following months ahead of the mainnet launch.
The most important news for $ORK investors
1/4 Orakuru is launching the Orakuru Foundation, under which current oracle development, DAO structure, industry-leading project incubation, and future L1 victories will all be continued.
>> A must-read https://t.co/x857loM6TD
November 8, 2021 — Orakuru | (@Orakuru ork)
Orakuru has jumped on the decentralization bandwagon.
Orakuru is going to undergo substantial adjustments six months after its successful token sale on the crowdfunding site KickPad. In a Medium article published on Wednesday, the protocol’s founding team detailed the new modifications, revealing that Orakuru would gradually begin reforming into a DAO.
The Orakuru Foundation was established by the team, and it would be in charge of transforming Orakuru into a community-run protocol.
“Moving into a fully-fledged foundation has been the objective from the beginning,” they said in the blog post. “Now we’re much more resource equipped to make that happen.” “At this point, our objective is to decentralize every aspect of the DAO while still accelerating the basic basis and purpose.”
According to the article, the Orakuru teams will begin shifting away from the centralized core team model and toward a task force style similar to MKR’s Maker DAO. The Initial Committee, which will be comprised of persons voted in by the DAO to build and maintain the protocol, will be the first item of business in the transitioning process.
Meanwhile, the core team will continue to work on adding pricing feeds for underserved L1 networks, creating a verified randomization function (VRF) for gaming, and adding on-chain computing and ad-hoc request functionality to the Orakuru prediction markets.
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The “ork bsc” is the project that is currently in transition to a full-fledged DAO. It has been running since October of 2017 and has already raised $3 million.
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