Proposal for improving coin voting

Governance
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I don’t know if I’m posting in the right place, but feel free to change the location.

I am very happy to see this evolution in Zcash, this possibility of returning. I believe that in the future this could be a tool of great impact, where people who accumulate Zcash can be heard and vote regardless of whether they have registered on the community website or not. Everyone will be able to participate.

I am writing this post to make a proposal for improvement. I believe we need to regulate voting, restricting the power of those who have a lot of coins, as well as preventing many wallets from being created with few coins for the purpose of manipulating voting results. The ideal is a democratic environment, but with mechanisms to prevent manipulation of results.

I only follow Zcash, so I don’t know if other cryptocurrencies have similar coin voting mechanisms to help with observation and learning from mistakes and successes.

In my opinion, I believe that we need to create rules, regulations on how voting by coins should be handled, creating restrictions in order to avoid future manipulation.

3 Likes
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The idea of time-weighted voting is super interesting. Basically, there would be a mechanism that adjusts voting power based on the duration of a participant’s stake, potentially reducing the influence of short-term speculators on voting outcomes.

Check out this paper by Shielded Labs board member Chris Berg:

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One person, one vote is a terrible idea for ZCash.
If you own a lot more ZEC, you should have more voting power, maybe not proportional but according to some function (like proposed by Vitalik in the last), because owning more means you’ve got a lot more at stake and care a lot more than someone with 0.001 ZEC for instance…

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Please bear in mind that the design must be compatible with the privacy of Zcash and the fungibility of ZEC.

2 Likes
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true, my initial thought was in relation to monopoly, there has to be a proportionality to the amount of coins, but in such a way that a person with a lot of coins is not able to dictate the future alone (or a small group). but I believe that this will never happen.

The article that aquietinvestor showed made me feel more at ease. There is already a study on this subject.

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Yes. I believe there would be no problems with that, since privacy and fungibility are the focus of Zcash.