Decentralized Autonomous Organizations on Blockchain: Analysis and visualization
Blockchain technology has become a paradigm to build decentralized systems, which are self-organized and do not require a central authority for their management. However, blockchain span beyond Finance, and it was applied in many other fields. That is the case of decentralized governance, giving ris...
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| Formato: | tesis de maestría |
| Fecha de publicación: | 2021 |
| País: | España |
| Recursos: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/9181 |
| Acesso em linha: | https://hdl.handle.net/20.500.14352/9181 |
| Access Level: | acceso abierto |
| Palavra-chave: | 004(043.3) Blockchain Decentralized Autonomous Organization Aragon DAOhaus DAOstack Gas Dashboard Causality. Informática (Informática) 1203.17 Informática |
| Resumo: | Blockchain technology has become a paradigm to build decentralized systems, which are self-organized and do not require a central authority for their management. However, blockchain span beyond Finance, and it was applied in many other fields. That is the case of decentralized governance, giving rise the well-know "Decentralized Autonomous Organization" (DAO). DAOs have emerged as a new form of collective and decentralized governance, where users may organize themselves but relying on blockchain technology, where every performed action is registered in it and implies an associated cost. In this work, we introduce the concept of DAO, seeing what it is used for and the main platforms available to create a DAO. We review the current state of the art relying on dashboards for DAOs as tools to improve knowledge about them. However, not many of these tools are available due to the difficulty of accessing blockchain data, and the few that exist are proprietary. In turn, we propose our own open source tool, DAO-Analyzer, for this task. We investigated the ins and outs of these DAOs, doing a comparative analysis of 48,886 users grouped in 1,935 DAOs from the main DAO platforms (Aragon, DAOhaus and DAOstack). The results obtained show significant differences in these platforms, Aragon being the largest platform of them and the one showing sustained growth. However, the DAOstack platform shows a clear stagnation, with hardly any activity. In a second step, we study how external factors can influence DAO’s behaviours. For that, we focus on the transaction fees (gas) surge from May 2020 in the Ethereum network. In order to see if gas prices influence the DAO activity, we have analyzed 15,977 transactions from all the DAOs of the main ecosystems, and used econometric tools with daily time series of the average fee value and the DAO operations, in order to analyze the causality between them. Our results show just a minor influence of the fee (gas) price and the activity of DAO users. The insensitivity of the activity to the fee price is an anomaly in a supposedly self-regulated market that should be solved in the future |
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