Description

Solana is one of the most popular cryptocurrencies among more than 10,000 that currently exist. The cryptocurrency platform is called Solana, while the individual unit is called a sol.

Created by Anatoly Yakovenko, Solana operates on a decentralized computer network using a ledger called blockchain. This blockchain database manages and tracks the currency, and effectively records every transaction that’s ever occurred in it, like a long running receipt. The computer network records the transactions in the currency and verifies the data’s integrity.

This decentralized setup makes the network more robust, and users can make transactions without the need of an intermediary. Solana calls itself the fastest blockchain in the world and touts its ability to verify 65,000 transactions per second at a cost of less than a penny each.

While many people think of crypto coins as only a currency, it’s useful to think of crypto as a token that can power or enable other apps on the platform. For example, Solana can power smart contracts, decentralized finance apps, NFTs and more.

Ethereum is a decentralized blockchain network powered by the Ether token that enables users to make transactions, earn interest on their holdings through staking, use and store nonfungible tokens (NFTs), trade cryptocurrencies, play games, use social media and so much more.

Many consider Ethereum to be the internet’s next step. If centralized platforms like Apple’s App Store represent Web 2.0, a decentralized, user-powered network like Ethereum is Web 3.0. This “next-generation web” supports decentralized applications (DApps), decentralized finance (DeFi) and decentralized exchanges (DEXs), for instance. 

This guide will provide you insights on the history of Ethereum, ethereum mining, how does Ethereum work, how to buy Ethereum, ETH vs BTC, Ethereum benefits and a glimpse of Ethereum 2.0. 

Decentralized Voting System

Snapshot is a voting tool based on the IPFS decentralized storage system, used by many crypto projects to poll their user bases.

Snapshot is a place where projects can create proposals for people to vote on using cryptocurrency. In the industry, this process is called ‘vote signaling’. Traditionally, to vote using cryptocurrency would normally incur fees to process the movement of currency from one wallet to another. 

But on Snapshot, that doesn’t happen, thanks to the clever use of the decentralized storage network called IPFS. Because Snapshot doesn’t use ‘on-chain’ verification, any votes are essentially fee-less

At its simplest, a decentralized autonomous organization (DAO) is a community with a shared bank account. Members of the DAO make decisions in a transparent and decentralized fashion, with smart contracts executing these decisions.

For instance, a member can create a proposal suggesting an investment of the treasury or a program upgrade. The DAO members then come together to vote on the proposal. If a predefined quorum votes for the proposal to pass, the proposal is accepted and and executed by a smart contract.

As a result, the DAO structure provides a “flat” organizational structure. Each DAO member has a voice in the community and the opportunity to drive the direction of the organization.

Realms provides a platform for builders on Solana to create a DAO, manage their members, vote on proposals, and allocate their treasury. Whether you are running a multisig, NFT community DAO, or community token DAO, Realms has the tools and integrations to help your community flourish.

Realms serves as the frontend for SPL Governance, a DAO-type and asset-type agnostic standard for building and maintaining DAOs on Solana.

Popular Proposal Categories

Methods

In this dashboard, compare ==Realms in Solana== with ==Snapshot in Ethereum==.

• Metrics of Snapshot platform were extracted from ethereum.core.ez_snapshot table.

• Metrics of Realms platform were extracted from solana.core.fact_proposal_votes table.

• ethereum.core.dim_dates used as Dim Date and daily metrics of both platforms from day 1 of each platform calculated by that table.

• All Solana users were extracted from solana.core.fact_transactions table.

• All Ethereum users were extracted from ethereum.core.fact_transactions table.

• Top ETH holders were extracted from flipside_prod_db.ethereum.erc20_balances table for the current day.

• Total Voting power and Quorum were extracted from ethereum.core.ez_snapshot table.

  \

Description

In realms, the top DAO with the most number of voters by far is The Imperium of Rain.

But in terms of number of votes, the Grape DAO is the most popular one, The Grape DAO is the governing body of our decentralized community. It has one main goal: Guarantee the success of Grape by harnessing and coordinating the incredible power of community's effort, ability, and potential.

the UXD protocol which is on the 2nd rank of the most popular DAOs in terms of votes is the most popular DAO. UXD Protocol is decentralized. UXD Protocol does not custody user assets, and users will not interact with any centralized entity

Description

the Top 5 popular proposals and their DAOs on Snapshot.

As we see, The most popular proposal is “Ratification of the ENS DAO Constitution” on ens.eth DAO (Read more about this proposal).

The interesting thing is that TBCC.ETH and also Arbitrium-Odyssey.eth DAOs have 2 of the top 5 popular proposals on Snapshot.

Description

On realm, most number of users have cast only 1 Vote. the second rank also belong to the users who cast between 2 to 5 Votes.

So, the voters on Snapshot are more active than Realm. But dont forget that number of proposals on Realm is also way less than Snapshot.

the most number of Snapshot votes have resulted in Yes/For/Accept or Other Votes (because votes on Snapshot can be a explained thing)

Also the most number of votes on Realms is Yes.

Conclusion

Both Snapshot and Realms are actually centralized platforms where users vote by signing with their wallet’s keys. It’s a good way to do Sybil-resistant polling, but there is no ability to enforce that the team or the multi-sig holders execute the governance proposals. Moreover, centralization has one clear benefit: accountability. For example, should users lose funds, companies like mine would be legally liable to return them to these clients by any means necessary. Contrast this to incidents like MakerDAO’s Black Thursday, where customers lost millions in unfair liquidations because someone was able to bid almost 0 DAI for each ETH.

So, In my opinion, these DAOs should mainly focus on doing sth useful about decentralizing their accountability with a very low risk of losing funds or such problems as what MakerDAO experienced. On the other hand, Centralized platforms usually do not accept to pay lost fund of users to them because they believe blockchain and DAOs have their own risk but anyway these risks should be minimized to the zero.

Analyzer

twitter::https://twitter.com/sharafdin1998

DIscord::superfly#5104

Description

shows the number of unique voters on a weekly basis, here again like the previous chart Realms has performed better in mid-2022 and the number of voters has grown well. And Snapshot voters have grown nicely since early August.

The most important measure of a platform's growth is the number of new users that join it.

In the chart above, you can compare the growth rate of Realms and Snapshot platforms. As you can see, the orange line, which shows the number of new users in Realms, has a very good upward trend in mid-2022 and has outperformed Snapshot, but Snapshot has seen impressive growth in the past month, only 113,000 new users joining in the third week of August.