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Renowned software developer and the co-founder of Steem, BitShares, and EOS network, Mr. Daniel Larimer, has unveiled the rebranding of his DAO business.
A New Vision is Born
In a recent press briefing shared with the media, Larimer made it known that his new venture, which he called “Fractally”, is designed to execute the initial plans of EOS laid out in 2017 for the benefit of the global crypto market.
He said that Fractally is going to be a fine synthesis of a social media platform, a decentralized exchange, a decentralized governance process, and a high-performance smart contracts network.
In Larimer’s statement, he said that the new Fractally program is built on the back of the previous experiences he earned on earlier ventures. These experiences include BitShare, which is one of the first decentralized exchanges, and Steem, the first decentralized social media platform.
Larimer introduced the concept of a Decentralized Autonomous Company in 2013, and it was on this that he built BitShare. Presently, the Decentralized Autonomous Company is widely called the Decentralized Autonomous Organization (DAO).
With its intuitive user interface and excellent user experience, anybody can use BitShare to create, to distribute, and to exchange tokens without knowing how to code. But Larimer promised that Fractally comes with something even much better.
Greater Than DAO
Larimer stated further that the plan for Fractally is that it produces an EOS-based app that will not just be as powerful as DAO but much easier to utilize while also bringing in the latest developments of the automated market makers. In his words via a tweet, Larimer said Fractally is set to be the DAO of DAOs.
In its time, Steem was a leading social media network because users were given rewards for making social media posts. Larimer said that Fractally is going to be built on Steem’s updated model of social reward system to also introduce incentivized posting to EOS while they work on how to minimize abuse of the platform.
Larimer also mentioned that the anticipated Fractally program would incorporate the rules of decentralized governance as stated in his publication (book title: MORE Equal Animals- the subtle art of true democracy). The rules have reportedly been tested in the EOS.
Back in 2021, Larimer’s team ran a test of the processes of fractal governance by building Eden on EOS and having up to three electoral processes with hundreds of people in participation. The exercise was generally recorded as a successful one by both participants and the hosts.
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