Introduction
Recently I published some information about the DAC I've been working on to solve some of the on boarding issues that Steem has.
Now it's time to discuss how the whole program works and why any account wanting to onboard people to STEEM may want to run this or take advantage of this program in other ways.
Configuration
At a minimum this program will require your Steem name and active key. The active key is required to sign delegation and and Account Creation Token, ACT, operations. There are a few other variable that can be user defined but the current market rate information is the default.
You can find out a little more about this at the Github repository
Initial Startup
There is an initial state that is programmed in to the system. As people start using the DAC their accounts will place custom JSONs with IPFS hashes of the agreed upon state into Steem. This means that any account running this software should have at least 150 SP. Once anybody is running this software and a consensus is formed the accounts will start to work together. Simply starting this program should auto-join the network (Line 502), restart with consensus information (Line 743 / 518). Then begin to work together.
Multi-Sig Escrow
Due to the collaborative nature of this software and guidance put out by certain governments it was imperative to build a networked fund. This means that interacting with the DAC will be done through a shared multi-signature account.
To make this possible several things had to be built and programmed that from my knowledge didn't yet exist.
Daily; the accounts cooperating with the DAC will be pushed one by one on to a multi-signature account. This will be done via polled active public keys. Currently up to 11 accounts will be autonomously elected to share the responsibility of the funds.
To autonomously sign multi-sig operations these accounts will poll data such as a time each believes is 9 minutes in the future as well as reference block and prefix numbers. Every 5 minutes with consensus these will be counted and one set of expiration time/ block number/prefix will be used to build a multi-sig transaction. This means that these operations will not be passed between the parties... and just the signature for the operations will be submitted in the 5 minute period custom json used for consensus. Once the threshold of signatures is collected the operations will be broadcast to Steem. These multisig operations will be payments for creating accounts and completed delegations to these new accounts.
Review and Feedback
This software is ready for test iteration and is NOT ready to be deployed on Steem as is. I would love to find interested parties to help with the testing and refining of this software... not only for the the backbone distributing ACTs but for all third party trusts that are currently on steem. For instance the account currently holding @steemp for Steem-Engine can use this multi-signature paradigm to alleviate the only real legal concern their platform has currently.
I'm specifically asking for @yabapmatt, @blocktrades, @oracle-d / steem-ninja, @gtg, and @stoodkev to look over this software and ask questions so we can start building software and communities with higher legal and technical resilience using these paradigms.
As always this is part of my work that I'm trying to be paid for with the SPS via Proposal 11. Which you can Approve via this Steemconnect Link