Coin Weighted Poll

General
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iOS beta link:

4 Likes
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It worked now :person_shrugging:

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I voted! ā€¦ Or did I? You will never know

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Actually, do you even know yourself? I personally donā€™t know how to audit such vote yet.

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wow what a result lol

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Is there a way to check if a vote was broadcast/submitted?

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ZF doesnā€™t like coin-weighted voting because they have never tried to put any of their coins into a shielded pool? :speak_no_evil:

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Shielded coinbase enforces that the first stop for all new coins is a shielded pool. What transparent funds are you referring to?

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Iā€™ve confirmed the answer to this question with @hanh and included it in the FAQ above:

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The first stop for ZF is a transparent address?

ā€”>

https://blockexplorer.one/zcash/mainnet/address/t3dvVE3SQEi7kqNzwrfNePxZ1d4hUyztBA1

All of the ZF Dev Fund ZEC lands in a transparent address. Where does it go from there? Iā€™ve always assumed it gets custodied on a major exchange like Gemini or Coinbase and sold off. Is this not true? Does ZF move it to a shielded pool and sell it to someone with a shielded address? Do they self-custody in a shielded pool? What details of this process have been made public in the past and what can be made public now? Iā€™d be curious to know.

Anyone got access to chainanalysis?

3 Likes
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The first transaction after the coinbase transaction (the mint, maybe?) is always to a shielded pool, at least since blossom, I think (gotta check that). Whomever holds this shielded address is unknown on-chain, at least. It created some issues for people who were mining to certain hardware wallets that were unable to create shielded txā€™s, they would have had to migrate their seed to spend out.

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All transparent coinbase funds must be shielded before they can be spent. So whoever controls the keys of these addresses, whether it be representatives of ZF or a custodian, must send them to a shielded address, by consensus rules. They might then immediately deshield them, or do something else.

7 Likes
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Just two days to go

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Indeed. Good thing this vote isnā€™t binding. I donā€™t think anyone agrees miners should get less than 20% of the block reward. I suspect a lot of people forgot that miners need votes to retain their reward.

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The test coinholder poll is now closed. Participants were asked to allocate block rewards among miners, ECC, ZF, and ZCG. Below are the results based on 17,805.67 ZEC.

What did you think of the process, and how can it be improved? Also, what are your thoughts on the outcome?

Miners: 18.01% (3,206.80 ZEC)
ECC: 51.24% (9,123.63 ZEC)
ZF: 1.42% (252.84 ZEC)
ZCG: 29.33% (5,222.40 ZEC)

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1 Like
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since it was test i dont think it should be thought as anything more?

at least i just tested it for testing :man_shrugging:

8 Likes
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Honestly, it was pretty smooth for a first try. Thank you so much @hanh , your effort is sincerely appreciated.

In terms of improvements, I can see a few, somewhat ordered by priority as I see it:

  1. Auditability of the vote
  2. Clarification on who can initiate a vote & how
  3. Delegation of vote to someone else
  4. Definition of a voting standard, so other wallets can implement it as well
7 Likes
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I also donā€™t think these results are meaningful since itā€™s just a test, but @aarnott raises a good point that most people may not realize they need to vote for miners if they actually want miners to keep receiving ZEC. This may become moot depending on the format of the real poll though (e.g. if the options are specific proposals instead).

However I would like to say something now before the real poll starts (so people donā€™t accuse me of saying this in case because ZF is ā€œlosingā€. And as usual: not speaking on behalf of ZF). I donā€™t think this particular poll should weight on the current dev fund decisions. The reasons are:

  • The code is closed and not auditable. I didnā€™t even realize that, thanks @ambimorph for point that out. Iā€™m super disappointed about that and I think itā€™s really bad to hold the security of voters as hostage in trade of a grant being paid. People who moved significant amounts of funds must keep this in mind. (Iā€™m confused about the code though. Isnā€™t this the core of it? What part of the code is being kept closed?)
  • The turnout is not significant enough, assuming it will be similar do the test. As it stands either ECC or ZF could completely change the outcome of the poll with the funds they have in store (in the order of 100K ZEC). I know they wonā€™t, but the mere possibility that they could do that (undetected) completely undermines the result. But maybe the real poll will have higher turnout.
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Yeah me too, but mostly at ZF for leaving all the work to @hanh and now complaining that itā€™s not exactly how you want it. Help him and/or compensate him if you want things a certain way.

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Am I able to move ZEC into the Orchard Pool to vote in the true poll that is starting soon?

2 Likes