- Daniel Larimer introduces a new concept named Fractally that will bring the original EOS vision of 2017 to the present crypto market.
- Larimer claims Fractally will be a one-of-a-kind combination of a decentralized exchange, a social media platform, a high-performance smart contracts network, and decentralized governance procedures.
- Fractally will create an EOS-based application that is “just as powerful and even easier to use while also embracing more current breakthroughs in automated market makers,” according to Larimer.
Daniel Larimer, a well-known software developer and co-founder of BitShares, Steem, and the EOS network, has announced the renaming of his previous businesses.
Daniel Larimer Reveals a New Vision
Larimer stated in a press statement shared with CryptoPotato that his new concept, code-named Fractally, will bring the original EOS vision of 2017 to the present crypto market.
Fractally, he claims, will be a one-of-a-kind combination of a decentralized exchange, a social media platform, a high-performance smart contracts network, and decentralized governance procedures.
According to Larimer, the new project will be founded on the lessons he has learned from his prior enterprises, which include BitShares, one of the earliest and most performing decentralized exchanges, and Steem, the first decentralized social media platform.
Larimer established the concept of a “Decentralized Autonomous Company (DAC)” in 2013, on which BitShares is based. The word DAC is now often used to refer to a Decentralized Autonomous Organization (DAO).
Fractally will become the DAO of DAOs
Fractally will create an EOS-based application that is “just as powerful and even easier to use while also embracing more current breakthroughs in automated market makers,” according to Larimer. He recently tweeted that Fractally will become “the DAO of DAOs.”
Because it compensated users for publishing, Steem was one of the most popular social media networks at the time. Fractally will draw on the revised architecture of Steem’s social reward system to provide incentivized blogging to EOS while lowering the risk of misuse.
This new initiative, according to Larimer, will also incorporate the decentralized governance ideas stated in his book “More Equal Animals — the Subtle Art of True Democracy.” These ideas have already been put to the test in the EOS community.
Earlier in 2021, Larimer and his colleagues put the fractal governance process to the test by launching Eden on EOS and having three elections attended by hundreds of individuals. The experiment was deemed a success by both hosts and participants, according to the EOS co-founder.
Violet.garden, an EOS-based blogging platform, purportedly used Eden members’ individuality to execute the Universal Basic Income practice on EOS.
Larimer said that he has appointed John Williamson, the founder of Violet.garden, to assist with the establishment of a well-governed social media site on the blockchain.