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Discovering DAO's

Valhalla Weekly - Security, Software, and All Things Research
Valhalla Weekly - Security, Software, and All Things Research
This week saw a pretty major mental unlock on the tech behind Web3, as well as some great progress on my new ventures!

Research Wrap-Up
This week was a good one! I published a video on Medium income and why I think every blogger should be publishing on Medium as well as a video on the basics of the FIRE Movement on my new second channel. On my main channel, I put out a quick explainer on Jupyter Notebooks and a fun video on scraping cryptocurrency prices from Yahoo Finance. The blog didn’t get a lot of love, though, but only because I’ve got a lot of cool stuff in the pipeline.
The first HackingFIRE monthly wrap-up is coming soon! I’m going to send it separately from my normal weekly to keep things organized.
Discovering DAO's
I’ve been a pretty strict no-coiner for the better part of the last couple years. To me, the ecological concerns around proof-of-work mining far outweighed the benefits, and the fact that it had turned into a rampant gambling speculator’s market was enough for me to view it as nothing more than another symptom of late-stage capitalism.
Then proof-of-stake coins came around, and I wasn’t entirely closed off to them as an idea. They didn’t have the same ecological concerns, and from a basic economic perspective, they make more sense: the value of the coin doesn’t come from the fact that you’re doing a bunch of big math problems really fast, it comes from the fact that a ton of people are willing to tie up their capital/liquidity to prove that it’s worth something.
So, I’ve started a slow-burn rabbit hole of jumping into Web3 as an idea. I have already invested a fairly small amount of money into some proof-of-stake coins, but I really want to understand the technology of Web3, from a fairly skeptical perspective instead of as a die-hard believer or a HODLer.
That’s when I discovered DAO’s. DAO’s, or Decentralized Autonomous Organizations, are a Web3 creation that exists in the form of a series of technical protocols and implementations that make up a new type of governance system. They are built upon the ideas of transparency, (close to) zero-trust and democracy, and operate on open-source smart contracts that allow for decentralized and directly democratic forms of governance. Tokenomics, or the economics of the tokens that make up DAO’s, change with each DAO, but in general tokens are treated not just as a currency but as a method for voting.
As a left-libertarian/market anarchist, DAO’s are intensely interesting as a new type of governance, and honestly before I’d done any research I was excited about them simply because it meant that people are building alternative governance models instead of slogging around in the status quo. Then I started listening to The Ownership Economy podcast and hit a huge mental unlock: the “anarcho-capitalists” and right-libertarians don’t necessarily own the crypto space, and there are a lot of projects, initiatives and movements within the Web3 space that are focused on building new, equitable and just economies that would be considered “left” by most readings of their goals and structures.
I am still very much a noob on Web3, DAO’s and crypto in general. I still have the stance that rampant speculation and ecological destruction are two issues that make me very hesitant to come anywhere near most cryptocurrency. That being said, by opening my mind more and realizing that that is just the part of the cryptocurrency/Web3 world that is the loudest, it doesn’t mean that it is the only thing there, and there is a ton of depth and potential outside of these areas to explore.
Until next week!
That’s about it for this week! Like I said, my first HackingFIRE update is coming over the next couple days, so you can expect that fairly soon. I’ll also do a video version as well on the HackingFIRE channel.
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Valhalla Weekly - Security, Software, and All Things Research
Valhalla Weekly - Security, Software, and All Things Research @valhalla_dev

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