ODIN Blockchain — A Bonafide Co-Operative Fully Funds It’s First Two Community Driven Proposal Efforts Nondescript Follow Jun 17, 2019 · 3 min read

Introduction

ODIN Blockchain also referred to as ODIN Co-Operative is a proof of stake based mobile privacy platform that aims to have a completely community driven product line and ecosphere. In line with this end goal, what is referred to as a Masternode Proposal System, has been implemented to reward and incentivize community-driven endeavors.

Masternode Proposal System Explained

The ODIN Blockchain community has officially proposed, voted upon, and thereby funded its’ first two entirely community-powered efforts. Among these two ventures are the M.A.S.H. website by ODIN Society and Co-operative member Bohica and the publication efforts of myself, Odin Society and Co-operative member, nondescript. This does not include a host of other ODIN related developments already in place that I will speak to later in this article.

Here is a breakdown of the proposal system from the most recent iteration of the Whitepaper:

“ODIN provides a decentralised and blockchain-based method for allocating development and growth funds through Masternode proposals. Masternodes can vote in a binary way one each masternode proposal put forward. Currently, each proposal cycle lasts for approximately one month, roughly the time between ODIN ‘superblocks’. These proposals are made publicly viewable, and the community is encouraged to debate and investigate them further, before each Superblock. Masternode operators can vote on these proposals through the ODIN wallet console.” (ODIN Whitepaper v0.4)

In short, the ODIN provided proposal system allows for community members to put forth a proposal for a nominal fee of [50 ODIN Coin] that will then be voted upon by masternode holding community members via the core wallet. This ensures that votes are recorded on the blockchain and funds are released to a wallet address pre-provided by the submitter(s) upon a successful voting round. Read more on acquiring a masternode and an in-depth look at the community governance model being implemented by ODIN here.

The Significance of a Masternode Proposal System

The cryptosphere has slowly shifted from, “Wouldn’t it be cool if?” to “Wow, they’re actually doing that?” ODIN Blockchain is already well rooted within the later of those statements.

The ODIN community has put forth a variety of fully functioning tools including its’ flagship application odin.chat, a blockchain powered private messenger available on the Google Play Store, ODIN Swag site, M.A.S.H. — the masternode hosting service, and a host of soon to come applications and services.

This brings me to my point of why having a Masternode Proposal System is such a significant part of the development of all things ODIN.

First: having a formal route to proposal allows anyone willing to submit the nominal fee of [50 ODIN] to get real-time feedback on how interested fellow community members are in the application of their idea. This provides a fairly transparent gauge of interest and clear signal as to whether or not their ideas for contribution are currently desired and worth pursuing.

Second: Successful proposals and execution of said proposals will be enticing to outside contributors who feel they have the stuff needed to submit and execute on a proposal. As more and more proposals are submitted and successfully funded, it will (in theory) create a healthy competition of talented contributors all vying for their opportunity to submit a truly helpful product or service in the aim of growing ODIN.

Third: With the scope of proposal ideas limited only to that of the human imagination, nearly anyone can offer something that will help further ODIN.

I’d love to hear what your contributions will be!

I’m very active on Discord under the handle [nondescript | ODIN] and will give the first person to send me a *thumbs up* emoji on the ODIN Discord 100 free ODIN COIN!

UPDATE: Discord user @Chizzy1985 claimed the prize!

Stay tuned for similar giveaways in upcoming articles.

Where do I find out more?

Discord Reddit Telegram ODIN Blockchain M.A.S.H. Odin.Chat