Blocks (BLOCKS) is a DAO (decentralized autonomous organization) platform utilizing the blockchain and non-blockchain partnerships aiming to migrate the traditional industries into the blockchain. The network intends to become blockchain agnostic, enabling the native token to connect current applications to blockchain technology.
As per the platform’s website, the Blocks network, which is a legally registered limited liability organization, seeks to rely on peer-to-peer software, empowering groups of verified parties to make nonhierarchical decisions about shared resources and funds. Because of this, the network has the potential to transform the industry by making it more accessible, scalable, and direct. The Blocks network welcomes like-minded people, corporations, and other network participants to be a part of their mission of establishing a standard for a legally registered DAO LLC.
Additionally, the Blocks protocol features a multi-signature wallet to seek to enhance the security of the platform. These are cryptocurrency digital wallets that require two or more private keys to validate and send transactions.
Further, the network has the BLOCK as the native token with many utilities. The primary use of the token is to govern the DAO, operate the community, and for voting. The token also allows the holders to submit improvement proposals and use it as a currency on partnered platforms to obtain goods and services. The token aims to grow its utility to become an established unit of measure for the global blockchain technology. Also, BLOCKS is an ERC777 token that is ERC20 compatible. ERC777 is a fungible token standard improving the existing ERC20 standard.
