What is DAOstack (GEN)?
Future of DAOstack Cryptocurrency and know how to buy GEN

#1: What is DAOstack?

GEN: The Basics

  1. DAOstack, one of the newest and most innovative crypto projects yet, isn’t even a cryptocurrency, technically!
  2. It’s actually the backbone that allows multiple Decentralised Autonomous Organizations (DAOs) to run in a peer-to-peer, efficient, and secure environment.
  3. It does this by enlisting the help of blockchain technology, and smart contracts.

GEN Development

  1. DAOstack was launched in May 2018, by CEO Matan Field.
  2. GEN is its token - which is actually ERC-20 compliant, and thus DAOstack is a part of the Ethereum ecosystem, using the ETH blockchain as its base.

 

#2: What are the benefits of DAOstack?

GEN Technology

  1. DAOstack is a blockchain-based application, built on the Ethereum blockchain, that allows for a new generation of distributed, peer-to-peer, and self-governing organizations to grow and thrive. They are called Decentralised Autonomous Organizations (DAOs).
  2. These new-age organizations will not follow the top-down approach like conventional organizations. Instead, the organization will function more like a collective, where everyone can decide which proposals, ideas, or ventures, are of more importance to the company as a whole.
  3. This means that, for example, decentralized burger chain could collectively decide on which location to choose for their next store. Since everyone involved has a stake in the business, and will thus profit from the business’ success, it ensures the best possible option is chosen for the entire organization.
  4. DAOstack implements its platform as a collection of multiple structured, modular application layers that interact and build on each other. There are compartmentalized functions that individually work to execute DApps, Javascript libraries, and smart contracts. Behind all of this is the blockchain, working as the base recording all essential information.
  5. Arc.js is a comprehensive JavaScript library, extended from Solidity and based on Web3.js, which provides developers with an easy api to interact with the DAOstack core and develop third-party apps that will execute in the DAOstack ecosystem.
  6. The Arc or Architecture layer is the main layer that allows decentralised, and fair self-governance to take place with the DAO. Governance policies are unambiguously defined with governance schemes, while unchangeable policies (like voting to liquidate the company!) are defined by global constraints. These, collectively called elements, are modified and manipulated by user actions, which are directed by the controller. The controller decides what actions must be performed upon user input, and manipulates DAO organisation's elements accordingly. DAO organisation reputation holders, as well as the ‘wallet’ (to be implemented) that will hold the DAO’s external funds, are controlled by this layer.
  7. The ArcHives layer is the main collaborative backbone of the DAOstack system. It is the layer that allows organizations to seamlessly interact and collaborate with each other. This is also the layer that allows DApps to run across the entire blockchain, without being confined to a single DAO. It achieves this by using a public registry of all DAOs on the blockchain, called Mosaic, a place to collect tested and community-approved governance models, called Compendium, and a central ‘marketplace’ where multiple companies can communicate effectively and share information and personal or tasks, called The Hive.
  8. Currently, in the alpha stage, Alchemy is planned to be the first dApp on the Arc framework, being the official ‘front-end’ to the DAOstack ecosystem. It will be used to access the entire gamut of functionalities and features DAOstack has to offer in an intuitive and beginner-friendly way. This means everything from creating and managing DAOs, voting on and accepting the proposal, configuring governance schemes, and collaboration will be accessible from a single, comprehensive user interface.
  9. The GEN token will mainly be used as an ‘attention’ token in the DAOstack ecosystem. Whenever there are proposals in a DAO, a user can use (stake) their GEN coins to bring a particular proposal to the reputation holders’ attention, signifying its perceived importance over other proposals. If that proposal is approved, the user is rewarded with bonus GEN, otherwise, the user loses their GEN.
  10. A class of users, called reputation holders, will be the ones who actually vote on a proposal and decide whether it will be implemented with the organization or not. Reputation can be earned by executing proposals, predicting correctly which proposals will pass with GEN, or being assigned reputation from the results of proposals.

Key Features

  1. Developer and user-friendly - The unique development methodology followed by DAOstack means that it is extremely friendly to developers, as well as non-technical users, who want to integrate and launch their organizations on the DAO stack. Things like a modular smart contract library, and a lean and fast JavaScript library make it very easy for developers to use the full potential of GEN in their applications. The intuitive user interface also allows non-technical users to easily create and manage their DAOs without too steep of a learning curve.
  2. Built as an ecosystem - DAOstack was not developed with the intention to produce and circulate a cryptocurrency. Instead, it began development with the aim of bringing traditional organizational structures into the 21st century and innovating a new way to think about how companies are formed, and structured. It developed a new way to manage and run an organization collectively, with no single higher authority, and a just, fair, and distributed system of management. The blockchain technology was deemed the best available technology to apply this concept into action.
  3. Huge scalability while Maintaining the Resilience of a Startup - With the architecture of DAOstack, it will even be possible for multiple DApps, or multiple, separate DAOs to interact and collaborate with each other in a fully decentralized and autonomous way through holographic consensus. This means that a large number of individual companies and form a group, making a collective of collectives. This is very secure and efficient to implement in the GEN ecosystem, a stark difference from real-world attempts at collaborating seamlessly between two or more large organizations.

 

#3: How to Buy & store DAOstack?

How to buy GEN coins

GEN tokens can be traded and bought at exchanges such as Hotbit and IDEX with Hotbit being the largest by volume.

GEN Wallet

Since GEN is an ERC-20 standard compliant token, any wallet supporting ETH and ERC-20 standard Ethereum tokens will also support GEN by default.

CoinSwitch

While cryptocurrency exchanges provide you with a platform to buy or sell the GEN cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, comes in to help you make the right decision by providing the prices for GEN on multiple crypto exchanges. With support for more than 140 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges. This way, you can choose the best deal for you!

What’s more - with CoinSwitch, you do not rely on a separate GEN wallet from the exchange to store your GEN cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

 

#4: What is the future of DAOstack?

Price Graph

Complete Analysis of DAOstack | Live DAOstack (GEN) Price Charts & Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 23, 2018

0.149343

0.160155

0.13586

0.147454

223555

5546050

Jul 10, 2018

0.154497

0.1581

0.135667

0.135667

96060

5737450

Jul 01, 2018

0.166423

0.167221

0.15759

0.15882

109636

5870790

Jun 26, 2018

0.193234

0.194043

0.173712

0.173902

27631

6816570

Jun 20, 2018

0.245571

0.275368

0.235764

0.268242

101580

8662860

Jun 12, 2018

0.324238

0.334531

0.299517

0.305583

153419

11437900

Jun 05, 2018

0.425694

0.427498

0.373204

0.413757

77942

15016900

May 26, 2018

0.562634

0.590112

0.534272

0.547808

95936

18779800

May 20, 2018

0.814631

0.845371

0.755237

0.760636

187387

27191000

May 10, 2018

1.22

1.36

1.18

1.31

1927100

-

 

#5: How is DAOstack different from other cryptos?

  1. Not just a cryptocurrency - DAOstack is not merely just another cryptocurrency copied from the code-base of big players like BTC or ETH. Instead, GEN is a completely self-sufficient and expansive ecosystem of decentralized autonomous organizations, that use the blockchain technology only to serve as the architectural backbone of their technology. This separates it from the hundreds of altcoins out there that have no real-world or practical justification for their existence.
  2. Immense market potential - Unlike most other altcoins which remain in the depths of obscurity, DAOstack has the potential to become one of the most important and revolutionary blockchain applications of our time. With the potential to completely transform the way we approach collaboration, organizational structure, and team management, DAOstack has the power to transform how companies work in the future.
  3. Cross-DAO support - DAOstack allows global, decentralized organizations to flourish without a central governing body, where decisions are taken by the collective itself. But, unlike other DApps or cryptos on the ETH blockchain, DAO also allow multiple DApps or DAOs to seamlessly integrate and collaborate with each other, with no complicated contracts or legalities involved. This allows for a truly global and cohesive mesh of collectives and groups of collective to grow and benefit from each other, changing the way our economy functions.

 

#6: Should you invest in DAOstack?

  1. GEN is an ERC-20 standard token, which means that it enjoys all the benefits of being supported by the second largest blockchain network after Bitcoin, Ethereum. The ERC-20 standard means that any wallet, dApp, or smart contract that supports ETH will automatically support GEN, with no extra configuration needed. This should help with adoption.
  2. Prices are currently decreasing after the initial buzz has started to die down, and it is likely they will keep falling for at least a few more weeks. This could make it an ideal time to buy in.
  3. Investing in any cryptocurrency is subject to their inherent volatile nature. But, the one-of-its-kind feature set of DAOstack, and its immense market potential make it absolutely necessary to include it in your search for coins to invest in.
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Exchange GEN and win upto $100 on your first order.