lightchain is a decentralized autonomous organization which is fully owned and operated by its users. The platform coordinates collaboration around shared goals of the community - all rules, guidelines, statements and decisions are fluently submitted and voted on in a democratic and transparent manner. Authority is delegated according to a user-ranked hierarchy, which derives automatically from users establishing a web-of-trust by following each other. This determines which entrants get to register and at which pace, spreading influence among a growing range of credible users and enabling a meritocratic governance system with high resilience against corruption, collusion and sybil attacks.
Even though reputation systems are critical infrastructure and have profound social and economic impact, all of today’s rating and ranking services are centered around a small number of private entities with inadequate transparency and sparely peer-reviewed algorithms. While open source systems solve some of these issues, they also cause a wide range of additional attack vectors. By experimenting with internal assessments at moderate scale, we can research and define security/privacy standards before publishing or even writing code.
The advantages of “trusted” setups greatly outweigh the downsides though. First we barely have to deal with scaling issues, nor rely on any external 3rd parties. Our guidelines are continuous work in progress and take shape when more users sign up and bring in new ideas and perspectives. The genesis account has the same privileges as any other user, so there is no single entity with major influence as soon as a couple of users have joined.