Elastos

CRC: Empowering Community Governance

The blockchain industry has faced its fair share of challenges regarding community governance, setting it apart from traditional Internet products. To overcome these hurdles, Elastos has introduced an innovative consensus mechanism called Cyber Republic Consensus (CRC) or  PoI (Proof of integrity) that brings the entire community together through a delegate model. This mechanism allows community members to participate in decision-making actively and incentivizes them to contribute to the growth of the community and ecosystem by submitting Suggestions and Proposals. This is one of the three forms of Consensus that makes it the overall Elastic Consensus.

In a nutshell, Elastos stands out among other blockchain projects by utilizing a governance board called the CR Council, consisting of twelve seats. This human-led Council makes decisions based on Proposals presented to CR website, harnessing the power of community involvement and leveraging the transparency and immutability of blockchain technology. It’s a dynamic and inclusive approach that invites everyone to shape the future of Elastos.

What makes this process even more fascinating is that all participants in the Consensus use digital signatures to validate their actions, ensuring trust and accountability. These actions are then recorded on the Elastos blockchain, which boasts open, transparent, and immutable features. This procedure means every community member can engage in decision-making on a level playing field. Finally, CRC expands the development space for the consensus mechanism of Elastos’ community governance, paving the way for even more innovation and collaboration.

Third Form of Consensus

CRC is Elastos’ third consensus mechanism, following PoW and BPoS, which makes up the overall Elastic Consensus. Its primary objective is to establish a community-driven governance framework that fuels Elastos’ technological advancements, ecosystem development, dispute resolution, and management of community assets. Moreover, the CRC aims to incentivize active community participation in shaping and contributing to the Elastos ecosystem.

Unlike a closed and mandatory organizational structure, the CRC embraces openness, decentralization, and spontaneity as core principles of the community. It serves as a top-level governance model, guiding the organic growth process through collective decision-making while providing support whenever needed.

Furthermore, the CRC is the foundational infrastructure for the Elastos ecosystem, offering a comprehensive community governance mechanism for truly decentralized applications. By empowering the community and fostering a sense of ownership, the CRC paves the way for a vibrant and innovative ecosystem that thrives on the collective wisdom of its participants.

Community Holds Council Accountable while Secretariat Provides Assistance

The CR Council is held accountable by the community through a democratic process that allows for the impeachment of council members if their performance is unsatisfactory. Community members can vote to impeach a council member. Once the number of votes to impeach exceeds 20% of the circulating supply of ELA, the member is automatically removed from the Council. This mechanism ensures that the council members are held responsible to the community and that their actions and decisions are subject to scrutiny.

 

Apart from answering to the community, the CR Council also has accountability in selecting the Secretariat. The Secretariat serves as a supportive body, aiding in decision-making, implementation, tracking, and daily management of tasks. At the helm of the Secretariat is the Secretary General, who plays a vital role in overseeing the CRC’s operations. The Secretary General and the Secretariat team bring professional insight and expertise to evaluate Proposals and ensure their efficient execution.

The Secretariat acts as a checks-and-balances mechanism, helping to address the challenges faced during the implementation of Proposals, such as long implementation periods, complex rationales, and the need for revisions. By assisting with decision-making and providing administrative support, the Secretariat helps alleviate the Council members’ workload and ensures that the implementation of Proposals are thoroughly reviewed and managed.

Overall, the combination of community accountability and the support provided by the Secretariat helps to ensure that the CR Council is held accountable for its actions and decisions. In addition, it fosters a transparent and democratic governance structure where the community has a say in the decision-making process while also benefiting from the expertise and efficiency of the Secretariat in managing the daily operations of the Council.

Annual Election

The highly anticipated CR Council Election officially began on April 30th, 2023, and will continue until the end of May. This significant event holds great importance for the Elastos community, as it allows each member to actively participate in shaping the future of our thriving ecosystem. Community members are encouraged to cast their votes promptly, as it is through our collective actions we will continue to expand the Elastos ecosystem and drive transformative projects forward.

 

The CR Council Election requires candidates to meet specific eligibility criteria and deposit 5,000 ELA to participate. If a candidate is not elected, the deposit will be refunded. ELA is used for voting in the Election. The top 12 candidates with the most votes will secure seats on the CR Council. Each Council member is responsible for running their own Supernode. The term for each member lasts approximately one year or 262,800 main chain blocks. 

Impactful Proposals

The impact of CRC can be seen through various impactful Proposals that have shaped the future of Elastos. For instance, a Proposal was passed to reduce the total supply of ELA tokens aimed to make them more attractive to investors by increasing scarcity. Another Proposal focused on bootstrapping liquidity on the Elastos Smart Contract (ESC) chain, facilitating seamless asset transfer experiences and a more robust DeFi ecosystem. There was also a Proposal to transition from Delegated Proof of Stake to Bonded Proof of Stake, enhancing network stability and decentralization. Furthermore, Elastos employed Kairon Labs as a market maker, increasing market liquidity and attracting potential partnerships.

The introduction of CRC has also paved the way for exciting initiatives like Elacity’s Digital Rights Management (DRM) integration with NFTs. This project aims to empower content creators by providing secure and efficient platforms for digital commerce. The Elavation Growth team Proposal further strengthens Elastos’ future success by focusing on business development, marketing, and strategic ecosystem alignment. These are just a handful of Proposals that have strongly impacted the Elastos ecosystem.

Conclusion

The Cyber Republic Council of Elastos represents a unique model of democratized governance in the blockchain industry. Elastos has empowered its community members to actively contribute to decision-making and ecosystem growth through the CR Consensus mechanism. This inclusive approach fosters ownership, ensuring that the community’s collective wisdom shapes Elastos’ future.

Proposals undergo scrutiny and voting by the CR Council, leveraging digital signatures and blockchain transparency to guarantee trust and accountability. The Council’s checks-and-balances system, supported by the CR Council Secretariat, facilitates effective implementation and provides professional expertise. By leveraging community insights, Elastos can make informed decisions across various aspects, driving innovation, growth, and stability while embodying decentralized and inclusive governance.

Useful links:

Updated on May 12, 2023: Changed “the CR Council also has accountability to the Secretariat” to “the CR Council also holds accountability for selecting the Secretariat”.
Changed “Council Held Accountable by Community and Secretariat” to “Community Holds Council Accountable while Secretariat Provides Assistance”.