EOS Network’s Daniel Larimer has revealed that the Fractally team has embarked on revitalizing the EOS’original vision presented in 2017. Fractally integrates a decentralized exchange, a social media platform, and high-performance smart contract capabilities. All these will operate on a decentralized governance model.
In essence, Fractally draws much of its inspiration from earlier projects by Daniel Larimer, namely Steem and Bitshares blockchains. According to Larimer, Fractally also incorporates the vision and lessons from his book, titled “More Equal Animals – The Subtle art of True Democracy”.
The inspiration behind Fractally
As mentioned above, Fractally is not an enclosed project but rather one that builds on Daniel Larimer’s previous successes. They include Steem, Eden, and Bitshares, all of which have been tried and tested over the past seven years.
Steem was a disruptive concept in the social media space, being the first such platform built on blockchain. In addition, it incentivized users by rewarding them for their postings. Its intuitive design made it easy to use for virtually everyone. Having learnt valuable lessons from Eden regarding user abuse, Fractally is ready to bring incentivized blogging to EOS.
Eden was a test platform for the Fractally governance process. According to Daniel Larimer, the test achieved great success on EOS, with participants expressing their satisfaction. As part of the test run, EOS hosted Violet.garden, to test the effectiveness of incentivized blogging. The move enabled users to implement a reward mechanism based on Universal Basic Income. EOS also tested the blogging platform’s defence capabilities against a Sybil attack. Following the successful experience with Violet.garden, Fractally has hired the platform’s founder, John Williamson.
Bitshares is the oldest of the three major projects from which Fractally borrows its lessons. Established in 2014, it was the first DeFi platform and is the leading performer in the DeFi market. It supports the creation, distribution and trading of tokens in a user-friendly manner. Moreover, users do not need smart contract coding skills to use the platform. Fractally intends to replicate the Bitshares experience by bringing a similar platform to EOS network.
Maintaining the Mandel fork
Following Daniel Larimer’s return to EOS this month, the community prioritized the maintenance of the Mandel fork. Mandel is set to be the successor to EOSIO, and Fractally will play an active role in its maintenance, with funding from EOS Network Foundation.
Latest Fractally news today
EOS has announced that it will unveil the Fractally white paper on February 22nd at 2:22 UTC. Dubbed “2/22/22 at 2:22” the event will see the Daniel Larimer-led team outline their vision for Fractally and will premier on YouTube. Meanwhile, users can follow developments via Fractally’s Twitter platform, @gofractally.