Lighting the way to an open internet
OpenChat, a fully on-chain SocialFi messaging service, decentralized using an SNS DAO and became an early "open internet service".
Imagine a messaging service where your chat account is a crypto wallet, messages are TXs stored on-chain, and only the community can push updates.
Open internet services
An "open internet service" is an internet service with a difference: it runs entirely on World Computer blockchain, without centralization. OpenChat is built from canister smart contracts installed on the Internet Computer | #ICP, which store and process all its data, and serve the user experience into web browsers. Because it runs fully on-chain, without centralization, an advanced community DAO has taken over responsibility for pushing updates to its software logic.
OpenChat is fully controlled by its "SNS" DAO, which takes over the traditional role of a company. Now, there is no CEO, board of directors or developers in control, just thousands of community members, whose wishes are mediated through digital democracy algorithms.
Web1 was about users reading content from the internet, Web2 was about users writing content that other users could read, and Web3 is about ownership. The future of Web3 includes users owning tokens and NFTs, but also being part of communities that administer mass market internet services – in fields as diverse as social media, gaming, the metaverse, DeFi and the sharing economy. This becomes possible when an internet service runs entirely on a blockchain, and can be controlled and updated by an advanced DAO, which has distributed voting power in the form of governance tokens to community members.
During the creation of an open internet service, an initial "decentralization swap" exchanges the new SNS DAO's governance tokens for ICP, which is then held in its treasury under the decentralized control of its governance community. But they aren't the only ones who can hold governance tokens: Open internet services will often founderize their users, by granting tokens to those who help with tasks such as advocacy, creating viral content, and content moderation. This unlocks a key Web3 strategy, which is to create a giant industrious virtual team of millions, and generate huge network effects that can overcome any Web2 incumbent.
Join OpenChat's governance community
The governance of open internet services is transparent, and using the link below you can view the proposals that update the service. Decision making is also open and completely automated, and anyone holding governance tokens can participate.
The "decentralization swap" process exchanges governance tokens for ICP tokens, held in the SNS DAO by a community of governance token holders. These tokens can be used to create bounties, incentivizing contributions to the service's development. This allows fully decentralized internet services to be created from anywhere, democratizing access to the tech economy and enabling anyone to build-out Web3.
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