The Amphora milestone aims to first make clients comply with the specification, then gradually add more complexity, and ultimately increase the number of other clients that can interoperate with them.

The first milestone M1 only requires the client to implement the merge specification. Most teams complete it even before the seminar starts! To help clients verify their implementation, developers have built multiple test suites.

Then, milestones M2, M3, and M4 are for the client team to build a development test network with increasingly complex technologies and multiple nodes. M2 implements a one-to-one combination of the execution layer (EL) client and the consensus layer (CL) client, and then publishes a combined testnet. This ensures that the two layers can successfully communicate through the engine API in the PoS environment.

M3 is a step beyond the achievement of Rayonsim in the Amphora workshop: the client builds a short-term development test network for the transition between PoW and PoS.

Transition to PoW-based mining difficulty: Once the mining difficulty of a block equals or exceeds a certain value, that is, TERMINAL_TOTAL_DIFFICULTY (total difficulty at the end), or TTD, the block is regarded as the last PoW block. The executive layer will then start to monitor the PoS consensus layer to reach a consensus on the new block. In order to ensure that the implementation of each team is robust, the EL team must connect two CL clients, and vice versa, in order to pass M3.

M4 is the real goal of this event: to allow multiple EL and CL clients to run a complete PoW to PoS transition process on a development testnet. In other words, M3 is a one-to-one test network, and M4 is a many-to-many test network.

Before the end of the workshop, we achieved this goal for a part of the team, so we started working on M5.

1. One person, one vote

As the name implies, a citizen can vote for one vote, and a person in a community can vote for one vote. Regardless of whether the tokens held are more or less.

What's the problem with one person, one vote?

The problem with one person, one vote is that those who really spend a lot of money do not enjoy any privileges. The so-called "privileged class" does not have more rights in the project or in this community.

In theory, if he makes a big contribution and spends more money, he should get a little more rights.

1. See who has more money

This money includes RMB, U.S. dollars or various crypto assets. Voting also includes staking and liquidity mining. This means that you don't need to make too many contributions to the community, you only need to have money, buy Coins, tokens, and pledge b. Suppose you have 5% of b in this community. As long as you invest in it, you will directly occupy 5% of the community's weight. Whether a certain proposal is passed or not is determined according to the number of encrypted assets or tokens held and the entire ratio.

The problem with the voting method that depends on who has more money is the opposite of "one person, one vote". The rights of the rich are too concentrated. Assuming that a person has 51% of b, then any vote does not need to be cast, and it is directly reviewed, and any proposal does not require other people’s votes. Because one person has too much b, you can just play it by yourself.

Of the two voting methods, one is that they don’t care about privileges and completely ignores privileges; the other is that they care too much about privileges. These are two extremes.

Quadratic voting is a governance design that better balances these two types of voting. Let me introduce the simplest method in quadratic voting. To put it simply, the money required for voting for the first, second, third, fourth, and fifth votes is different.

For example, one U.S. dollar is required for the first vote, two U.S. dollars for the second vote, and so on, the fifth vote is 5 U.S. dollars. So if you want to cast 100 votes, how much dollars should it cost? A more classic curve will appear at this time.

The vertical axis represents influence or weight, and the horizontal axis represents the money you spend. Because the money added for each ticket increases linearly, the horizontal and vertical axis will form a diagonal line with a 45-degree angle.

Of course, we can make adjustments in this model. For example, the cost of the second ticket is not two dollars, but 1.5 dollars or 1.1 dollars, and the curve will change accordingly, but we only analyze the most basic content.

Under this most basic model, at the nth vote, the money needs to be spent, because the slope k=1, there will be a coordinate of x=n, y=n, and n, n coordinates. At this time, the money spent on voting is the area of ​​this triangle. This is another right triangle with an area equal to one-half of n squared.

Compared with companies, DAO has countless benefits. The DAO does not have a formal role or hierarchy, and all its decisions are made by the community collectively.

DAO relies on voluntary labor, that is, the value that people provide is entirely voluntary. This also allows the quality of labor to be doubled.

This is the difference between clocking in to work and doing the least amount of work and doing a project that interests you. There is no comparison between the two.

The best example is the comparison between Uniswap and Coinbase. Cryptocurrency transactions can be carried out in both organizations.

Coinbase is a public company with thousands of employees, and Uniswap is a DAO with about 20 core engineers.

Although the labor force is different, the transaction volume they handle is similar, and even Uniswap has a higher transaction volume for a while.

Which organization sounds like a better investment?

It should be noted that Coinbase's management is very strict. They are the largest cryptocurrency exchange in the United States and provide a safe and convenient user experience.

The difference between Uniswap and Coinbase illustrates the difference between DAO and company.

DAO also solves the three most pressing problems facing companies today.

Investor advantage

The company is owned by the investors, and all the value obtained is directly owned by them, while the wages of the workers are very low.

DAO is collectively owned by the community, and all obtained value enters the DAO as a whole. This is mainly done through native tokens.

Is Uniswap doing well? The value of each Token is increasing. Whether you have built a smart contract or wrote a copy on the website, you will get the same value.

The only way to become a community member is to own a token. This ensures that every member can get financial incentives to contribute their maximum labor force to the DAO.

For this reason, DAO will replace all companies sooner or later. This is not a mild reform. This is an efficiency revolution.