It can be foreseen, using the popular social theory of the tragedy of commons, that public blockchains with DPOS consensus will be “constantly liable to breaking in half or becoming capture of unpredictable political forces”. However, the works of Elinor Ostrom on “Governing the Commons” would contradict such general assertions. The ARK blockchain’s modified DPOS consensus featuring 51 delegates with its powerful on-chain blockchain governance (one wallet, one vote, highly distributed and dispersed tokenholders) has the conducive environment for the self-regulation on the use of the “commons”, the capable counterstep against the predicted tragedy that the works of Ms. Ostrom is preaching.
With ArkInstitute’s commitment to good governance and its advocacy to make Ark Blockchain a tool for Social Enterprising, the inherent risks of DPOS consensus are adequately mitigated by the kind of community self-governance ArkInstitute is proposing. Moreso, it signals to the market that the Ark Blockchain and its planned virtual machine will be operated efficiently, effectively and most importantly, ethically. This will make the Ark Community a trustworthy and responsible member of cryptocurrency industry.
As such, the ArkInstitute reiterate its request to the members of Ark Community to use 1% of their tokenholdings on this initiative, and directly vote or proxy vote (through their delegates) arkinstitute.
Finally, it is an honor to serve the Ark Community.
Many thanks!
ArkInstitute: Mark of Good Governance 