The concept of decentralization is not new. In the development of a technology solution, it is common practice to evaluate the pros and downsides of centralized, distributed, and decentralized network structures. There is a spectrum of decentralization that can be found in the many different blockchain protocols, Dapps, DAOs, and other blockchain-related solutions.
The maturity of the solution, the time-tested dependability of its incentive models and consensus procedures, and the founding team’s ability to strike the proper balance are often the determinants of adoption level.
On August 19, 2022, XDC Community was established to help the XDC Network’s decentralized developer community thrive. It is a group of contributors who have decided to do something about the need to improve decentralization by creating a developer community that will entice major players in the blockchain industry and major institutional partners to develop their projects on XDC.
Focus areas, deliverables, and a development and sustainability model from now through the end of 2023 are outlined by the network, along with a timeline for the formal establishment of the XDC Community organization.
If there is adequate interest in this plan among XDC members, the funds allocated from the XDC Ecosystem Development Fund will be utilized to finance the XDC Community Initiative.
In addition, the network will be holding events and Ask Me Anything (AMA) sessions to talk about the plan in more detail. On Monday, October 31 at 12 AM EDT (UTC-4), the polls will open, and they will close on Friday, November 4 at 11:59 PM EDT (UTC-4).
The network’s mission is to support the XDC community by enhancing decentralization, establishing standards, and fostering a vibrant environment for developers that encourages leading programmers and giant organizations to adopt XDC as a platform.
In the last two months, the team has established itself as an industry expert on blockchain-related subjects like decentralization by actively encouraging the development of XIPs. The team has a history of successfully organizing and managing the Coinbase hackathon, giving network development courses via a bounty programme, and actively engaging with the community through AMAs, Twitter spaces, and Discord involvement.
It is crucial that network standards be established, and the XDC Community team has shown they can promote development via decentralization.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
