please follow the url below to read including pictures and working links
https://www.linkedin.com/pulse/dmd-diamond-foundation-meeting-2018-aleksander-mesor/Dear Diamond Community,
The DMD Diamond Foundation recently had its bi-annual meeting where it evaluated past and present goals, as well as setting new objectives for the continued DMD development.
The extreme sentiment swings in the first 3 quarters of 2018, which were a real rollercoaster, resulted in the lackluster performance of all cryptocurrencies to date. However, this has in no way had an impact on the performance or progress made by the DMD team. We continued to pursue our overall objectives and are happy to report that development progressed ahead of target. The Diamond foundation remains steadfast in its vision that the future of cryptocurrencies is a bigger interconnected ecosystem where people have the right to choice. DMD strives to give people that choice by offering fast and safe ways of transacting, storing wealth and being rewarded with the protocol’s coins for active participation in the network. In addition, there has been a concerted focus to engage 3rd party developers and service providers to the Diamond blockchain. We feel this strategy is critical to driving the protocol's adoption and acceptance.
Team meeting September 2018 Poland:
DMD Diamond is a decentralised protocol which is developed and promoted by a community based non-profit volunteer group called the Diamond Foundation. The central focus of this group is to ensure the continued development and optimisation DMD cryptocurrency system to ensure it is one of the prefered, if not sought after, protocols for the future. The foundation team members also act as custodians of the DMD funds generated by the protocol. However, we believe the future of the DMD protocol rest with the community, and as such we are pursuing the Masternode decentralised governance systems as specified in the White paper. The team firmly believes that this decentralisation and more active community participation with lead to the current objectives being met faster, with an inclusion of ideas that could improve the current end goal. Community inclusion is definitely the way to foster a healthier, more interactive and open community which will translate in a solid and market leading protocol.
To support this direction, we are proposing to introduce a second layer (Layer 2) voting process and the introduction of a budgeting block. This budgeting block will be earmarked to be utilised to fund authorised proposals submitted by the community.
The introduction of a budgeting block would translate in a change to the current block reward structure. The current reward allocation (35/65 split - PoS/MN ratio to a 30/70 split) which will create a 7% budget fund. This, as described above will be utilised to fund approved third party/community initiatives. Based on the results of other projects (using a similar governance models) the benefits to the protocol development and overall value, far outweigh the retention of the cost of the budget block (not available for distribution). We will investigate the details and mechanics of other successful governance models (e.g. Dash, PIVX etc) to see which model will serve our needs and culture best.
The DMD team remains totally devoted to the further development, optimisation and improvement of the DMD ecosystem. By adding Layer 2, we will be enabling funding of community based projects thus increasing the overall exposure and demand for DMD. Whilst the foundation team firmly believe this is the correct decision for the future of DMD, the team will be actively seeking an open community discussion and feedback before the final vote. A vote (and majority consensus) is required, given the change in strategy will require a hard fork. The vote will be done using the current Masternode voting engine (given these hold the majority stake (thereby risk) in the coin.
The DMD protocol has recently gone through an extensive legal review by an expert, to ascertain their opinion if the coin will be deemed a security under the US legal definition (SEC). The team are pleased to announce, that in the expert’s opinion the DMD coin should not be declared a security. This clarification allows us to approach new exchanges, that now seek this assurance (e.g. coinbase). However, more importantly, this legal clarity gives us all added reassurance that DMD is here to stay and is well positioned towards a more regulated crypto industry.
The foundation also agreed that the project's website is a getting dated. There is currently a workstream to revamp the site to ensure that it remains modern, attractive and houses relevant content. To that end, the new website will feature updated content (in the light of DMD's legal review), graphics and extended language support.
The foundation also discussed the progress of the 3rd party services that are being planned and/or created that would benefit the DMD protocol. Please note that these are not sponsored or paid by the Diamond Foundation. In addition, these initiative are not part of core operation of the DMD protocol.
The most notable is GoStake.com; it is a website that tracks real blockchain data coming from capitalised wallets which produce rewards or any other crypto related proceeds generating mechanisms. The website will feature a profit leader board that would present information in an unbiased way to give clear realistic position of how wallets/coins behave and what the real returns are. This is quite contrary to other websites that only use static formulas taken from incomplete sources (e.g. projects' white papers). These data sources don't take into account reality of network difficulty, competition and decreasing or increasing coin monetary inflation (thus creating an unrealistic position).
Gostake.com proposition, the first in the crypto space, will not only be used by people who want to streamline their portfolios to get better returns, but it will also be a great platform to promote DMD protocol and direct the traffic to this rare and rewarding crypto gem. Furthermore, a percentage of the profits of this venture will be converted to DMD (creating buy pressure over time). The alpha version of the new service is ready and already collecting data, however, the official launch is planned for the end of Q4 2018.
GoStake’s front page screenshot with dummy data:
And More
Apart from GoStake, will be an exceptional promotional medium for DMD, there is another ongoing initiative being developed that will add actual, and unique, utility to DMD Diamond. Even though this venture is at an early stage, the technology required to enable the application is currently being built and developed. The team will release details as soon as they are able to, but it goes without saying this is truly an exciting development. In order to use such a service, the user would have to burn DMD coins to potentially generate something of more value. The service would aim at creating value out of value and potentially compounding it using new mechanics. As a hint, people who use AircoinsApp to hunt for DMD of 0.1 value would be able to use the app. So make sure you hold onto your found fragments. The app, once launched, and used, will inevitably create much more demand for DMD and play to DMD brand's strength of being unique and rare.
In conclusion, the above mentioned services are just the beginning of proliferation of DMD based projects that are aimed at creating demand for DMD.
Thanks to Foundation members’ collaboration with many people in the crypto industry, we expect to see 1-2 new projects being launched each year by 3rd party developers, which in turn will add to the growing DMD ecosystem. We are especially excited and proud of the budgeting proposal, which the team feel, once launched will lead to many more opportunities, not only for the DMD protocol, but also for our community who have brilliant concepts, and need funding to launch them.
Apart from direct development and enabling the community to contribute to DMD through the budget process, the Foundation's main focus continues to strive to ensure Diamond becomes a part of the emerging blockchain economy by exploring evolving technologies and cross blockchain interaction solutions that would form a new global blockchain standard.
The Future is bright for DMD!
