It will be resilient because it has no single point of failure and it is not reliant on any single entity or individual to make strategic decisions about its ongoing development or roadmap. These choices will be made collectively, by all stakeholders, as Dock evolves into an increasingly decentralized governance structure.
Non-profit association with decentralized identifiers
Networks that are owned by a single entity will never be as widely adopted as those that are open. The Internet is a prime example of a vast, lively and varied ecosystem. Would it be as popular if it were owned by Google?
However, such open networks still need a form of governance or management if they are to move forward coherently. Who will decide what should be developed next, who will carry out the work and how do we drive network adoption?
With longevity and fairness in mind, Dock has established the Dock Association, a non-profit decentralized organization dedicated to: overseeing the network’s roadmap, establishing and providing ongoing governance, and overseeing the promotion of the network.
The Association is based in Switzerland, favored due to the legal clarity it offers around cryptographic tokens, such as Dock’s utility token. We continue to hand pick council members to sit on the council's board and look after the interests of all stakeholders so expect some announcements in the near future. Watch this space.
The Dock network uses a Proof of Stake algorithm, which selects validators based on the amount of Dock tokens staked behind them, for validating and securing the network. Rewards and slashing mechanisms are used to ensure validators act in support of the network and to punish malicious behavior.
Token holder proposals and voting
Token holders are invited to vote on all changes to the network including network functionality, actors in the network, reward and slashing rules, and Treasury spending. In addition, token holders, as well as the Council, are able to submit proposals and vote on the proposed changes.
Token holders are also able to vote to add or remove Council members for the Dock Association. This helps ensure that Council members are held accountable and act in accordance with the wider Dock community.