So many crypto projects are not truly decentralized, recall that decentralization is the bedrock of crypto as showcased by the king, Bitcoin. IBAX was enacted with mind blowing features, without leaving out true decentralization as can be depicted from the project's governance model.
Decentralization has always been IBAX firm belief. It refers not only to IBAX’s infrastructure network environment. Instead, IBAX lets decentralization take root in each ecoLib created in IBAX Network and use technical solutions to achieve a high degree of selfgovernance in each of them. For the purpose of highly distributed self-governance, IBAX have made many changes in the overall architecture and technical implementation. However, in practice, we cannot avoid the centralized management concept.
In order to find a balance between centralization and decentralization, in addition to the DPoA consensus mechanism, we have also formulated certain reward and incentive programs. To enrich the ecosystem environment for IBAX, the Foundation will give certain rewards to partners and developers who build ecoLibs in IBAX Network and develop and release DApps (the specific reward plan will be announced on the official website of IBAX).
The Foundation managed by the Board members is responsible for the continuous operation of IBAX Network. Initially, the Foundation consists of 21 members. These are companies providing technical support for IBAX, well-known founders of global companies, multilateral organizations, non-profit organizations, well-known academic institutions, and some guardian node partners (designated representatives from qualified verification nodes). Then, according to the operating environment and influence of IBAX Network, it will consider whether to increase the number of Honor Nodes and introduce changes according to voting results.
The Foundation will jointly make decisions on network and reserve governance, technical R&D and design, market construction and management, and public relations. The world is wonderful because of diversity. IBAX’s decentralized consensus mechanism is highly compatible, therefore, at the early stage, the Foundation will initiate ecosystem cooperation activities. The launch of a comprehensive ecosystem reward plan will bring innovation and vitality to IBAX Network.
Project links : Website: https://ibax.io
Global Partner Recruitment: https://forms.gle/uahzDWJcU4ifs4zFA/
Whitepaper: https://bit.ly/3fGERao
Twitter: https://twitter.com/IbaxNetwork
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Medium: https://medium.com/@ibaxnetwork