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Today’s leading experts and investors into the field-however- are reviving a more responsive, thoughtful approach on the Decentralized Autonomous Organization (DAO) and still maintaining that its import cannot be overlooked in the development of the the crypto industry.
One such expert- Tekin Salim- holds that the DAO provids the best transaction and data recording benefits of any blockchain model. Specifically, Salimi cites:
“Gas prices and scalability concerns on Ethereum today are bottlenecks that have led many project founders to consider launching DAOs on other platforms. Polkadot is a great example of a platform that stands to win DAO market share. Through utilizing Parity’s Substrate framework, a project founder can now launch a DAO chain that is natively interoperable with all other Substrate-based blockchains. This DAO chain can also participate in Polkadot’s parachain auctions to become an elected parachain and effectively piggy-back off of Polkadot’s consensus security. The value proposition of a platform like Polkadot is through reducing the surface area of issues that a DAO founder needs to worry about, so the founder can focus fundamentally on building a valuable economic model for the DAO’s tokenholders.”
As per Salimi’s reference, the Polkadot platform functions on a DAO system that enables connections between private and consortium chains, public and permissionless networks, oracles, and future technologies that have not been created yet in a single, interoperable system.
Therein lies the efficacy of the DAO model.
Furthermore, DAO’s can operate different platforms and be utilized for a diverse range of applications that the evolving crypto currency market can take advantage of.
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