//Next steps for SiaClassic

Next steps for SiaClassic

SiaClassic foundation is taking its role seriously. After their “Declaration of independence”, which announced their support for the original Sia vision and disapproval towards the new direction that Nebulous is taking, they are starting to lay the foundation for the SiaClassic chain. In their latest blog post, they are talking about the most important topics for the project: governance, financing and community engagement. Being a fork of Sia because of their different views for the network, governance is especially important for SiaClassic. People are watching this new project and they have a chance to create an example for future forks from different networks. The first steps are important and I think they did a great job so far. Unlike other forks, SiaClassic has incorporated a non-profit foundation to take care of the network, they put together an experienced team of professionals from multiple domains and they are making their intentions clear.These are some key points from their latest statement that I find important:The purpose of SiaClassic is to develop, expand, and optimize a decentralized data storage platform secured by permissionless blockchain technology.As development on behalf of the community is necessary for continual maintenance and re-optimization of the protocol and network, the SiaClassic Foundation can, and will, offer both cash and in-kind grant contributions.The SiaClassic Foundation will not pre-mine for any reason, at any time.The community can keep the Foundation accountable by electing board members and ensuring that formal audits of the Foundation’s financial records are posted publicly.The Foundation will work with industry experts, community developers and academia in order to provide the best possible climate for SiaClassic’s development.The Foundation will manage the SiaClassic Improvement Proposal (SCIP) process and ensure that the proposals are reviewed and addressed appropriately.SiaClassic Foundation will be financed in 4 ways: donations from individuals and businesses, grants for research, a 10 percent development fee on block rewards and affinity partnerships with third-party companies.In an effort to give the community a stronger voice in this process, the Foundation will be forming a Community Advisory Council. This council will be made up of key members of the community and will help inform decisions and find solutions to issues facing the ecosystem.As far as I am concerned, this is exactly what a foundation should do: support the network and all its participants in a democratic and transparent manner.

SiaClassic foundation is taking its role seriously. After their “Declaration of independence”, which announced their support for the original Sia vision and disapproval towards the new direction that Nebulous is taking, they are starting to lay the foundation for the SiaClassic chain. In their latest blog post, they are talking about the most important topics for the project: governance, financing and community engagement. Being a fork of Sia because of their different views for the network, governance is especially important for SiaClassic. People are watching this new project and they have a chance to create an example for future forks from different networks. The first steps are important and I think they did a great job so far. Unlike other forks, SiaClassic has incorporated a non-profit foundation to take care of the network, they put together an experienced team of professionals from multiple domains and they are making their intentions clear.

These are some key points from their latest statement that I find important:

  • The purpose of SiaClassic is to develop, expand, and optimize a decentralized data storage platform secured by permissionless blockchain technology.

  • As development on behalf of the community is necessary for continual maintenance and re-optimization of the protocol and network, the SiaClassic Foundation can, and will, offer both cash and in-kind grant contributions.

  • The SiaClassic Foundation will not pre-mine for any reason, at any time.

  • The community can keep the Foundation accountable by electing board members and ensuring that formal audits of the Foundation’s financial records are posted publicly.

  • The Foundation will work with industry experts, community developers and academia in order to provide the best possible climate for SiaClassic’s development.

  • The Foundation will manage the SiaClassic Improvement Proposal (SCIP) process and ensure that the proposals are reviewed and addressed appropriately.

  • SiaClassic Foundation will be financed in 4 ways: donations from individuals and businesses, grants for research, a 10 percent development fee on block rewards and affinity partnerships with third-party companies.

  • In an effort to give the community a stronger voice in this process, the Foundation will be forming a Community Advisory Council. This council will be made up of key members of the community and will help inform decisions and find solutions to issues facing the ecosystem.

As far as I am concerned, this is exactly what a foundation should do: support the network and all its participants in a democratic and transparent manner.