WAX ON: Here's Why Blockchain Voting Is Critical

Published on May 29, 2021

Trending full length videos top searched Shaving Pubic Hair, Relationship Advice, Online Dating, SEO Tips, and Can Blockchain Technology Be Used For Voting, WAX ON: Here's Why Blockchain Voting Is Critical.

Want to learn more about the best voting and staking blockchain? Visit http://www.wax.io

Governance through voting, what works and what doesn’t. Today I want to talk about one of the most important and misunderstood parts of creating a successful blockchain – voting.

Now let me start by saying that voting in any system of governance is complex. The problems begin with voter turnout. For U.S. presidential elections turnout is not even 50%. Voting as a way to make decisions gets complicated fast. Think about voter districting or voter delegation like the U.S. Electoral College. A lot of smart educated Americans don’t understand it.

Now we haven’t even introduced a whole voter information problem. You can’t effectively vote on something unless you are properly informed, but how do you get informed? Do you even have time to get informed? Not surprisingly, most people who vote on things do so with incomplete information on the subject.

All of these voting issues exist in the blockchain space as well. But the problems are amplified by the fact that highly technical subject matter and the unfriendly tools you need simply to cast your vote. We could run through a whole episode about the voting problems or proof of work protocols but instead, I want to focus today on proof of stake voting, specifically delegated proof of stake voting or DPoS or what I like to call it democratic proof of stake if you will.

Delegated proof of stake voting in many ways, resembles a parliamentary-style government where citizens delegate to other people decisions that they could have made themselves if they’d had the time, the energy, the knowledge. In DPoS, the citizens are token holders one token, one vote, and these token holders vote for people who will make sure that the blockchain transactions are valid. On the WAX Blockchain we call these validators Guilds. There are some excellent advantages to using a voting delegation system like DPoS. It allows the blockchain to perform at a much faster speed, at a lower cost, and with much lower energy consumption.

But how does your everyday token holder know which block producers to vote for? For that matter why would the average token holder even care who does the validating, especially if they hold very few tokens? When we were designing the WAX Blockchain we spent a lot of time thinking about these questions.

So let’s summarize the three biggest pain points in delegated proof of stake voting are low voter participation rates, poorly informed voters, and the potential for vote buying.

Let’s take a look at voter participation problems first. Voter participation rates in DPoS based blockchains have historically been nothing short of atrocious. On EOS, the biggest DPoS blockchain in the world, voter participation is consistently below 3%. Now there’s not one single factor for this painfully low voter turnout, but there is one big problem – the lack of incentives. Most DPoS chains ask token holders to invest real time and energy into voting for the blockchain validators, the block producers. But they do so without a strong incentive to drive that behavior. I believe there has to be a clear and worthwhile incentive to get people to turn out for a vote and we know that most people react in a positive way to financial incentives.

So WAX introduced a concept of voting rewards where token holders earn tokens based on the frequency and consistency of their voting efforts. These token rewards are generated through inflation and they are paid out on a weekly basis. Since we introduced voting rewards we’ve seen wax voter turnout for guilds hold at about 17%. Now 17% isn’t perfect but it’s substantially higher than the 2 to 3% that many other DPoS chains achieve.

For the rest of the video transcript, visit: https://wax.io/blog/wax-on-heres-why-blockchain-voting-is-critical


The information contained herein is for general informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker(s). Buying and selling cryptocurrencies poses considerable risk of loss. The speaker(s) does not guarantee any particular outcome. Past performance does not guarantee future results. You should do your own research, incorporating your own personal financial situation and risk tolerances, before making any purchase or trading decisions. The speaker(s) is not an investment advisor, broker or dealer. Your financial decisions are solely your responsibility.

Can Blockchain Technology Be Used For Voting

Can Blockchain Technology Be Used For Voting, WAX ON: Here's Why Blockchain Voting Is Critical.

Top Seven Methods To Promote Your Ezine

Not every organization will gain from having a web existence, however many will. You may also need to be a little bit client as you avoid into the brave new world of online dating.

WAX ON: Here's Why Blockchain Voting Is Critical, Enjoy popular reviews about Can Blockchain Technology Be Used For Voting.

One-Two-Three Punch Marketing

And they recommend words that sound alike, as you’ll see. The style makes it much more tough to cut yourself. Apply a lot of shaving foam or gel over the area and leave for a few minutes to soften even more.

In some cultures pubic hair removal has actually been performed for centuries for health and other reasons. Now it is becoming widely accepted all over the world and both males and females are eager to discover a pubic hair elimination technique which suits them.

Some doctors do not suggest hair waxing for individuals struggling with diabetes or who have varicose veins or Blockchain Technology poor circulation as they are more susceptible to infection.

Composing is an untapped natural healer, which according to The Medication Serv. Medical News, reporting on a study by Smyth & colleagues, concluded that “The basic act of discussing bad times can be powerful, and a low expense, technique of eliminating discomfort and signs of persistent health problems Hybrid Blockchains .

Unless you are experienced on the topic, it is a good idea to choose an engraver prior to you buy your item. The engraver can encourage you prior to you buy as to what to try to find and whether they would be prepared to do the task. They may have the ability to refer you to a respectable dealer that you can trust, or speak with the dealership you are thinking about to ensure that the resulting product is as you expect it to be.

For example, if you have dreams of ending up being healthy and rich and your associates are obese cigarette smokers that grumble about working one-minute overtime, then I can anticipate the chances of you being healthy and wealthy is slim to none. Countless individuals never attain their dreams, because their “buddies” act as “cement shoes” as they walk towards their goals in life. As I set my objectives, I surround myself with people who are on the very same course in life that I am on. If you really internalize this exact same mindset, then you can attain Public Blockchains your objectives in life.

Pretend that your Canadian customer has actually bought a book from you from your Canadian site. Your drop ship supplier lies in the United States and is signed up for G.S.T. You fax your order to the American company, and they, in turn, deliver the book for you (total with Customs Statement and their G.S.T.

Look your best and send a great photo of yourself for your profile photo. A good picture truly is worth a thousand words, and research study shows that you are nearly 10 times most likely to be seen if you post an image to your profile.

Many of the time you’ll only require a 400 speed movie for basic pictures. However it doesn’t harmed to use the other speeds for special occasions, you’ll see a difference.

Great hot waxes melt just above body temperature level so they can be quickly spread very finely over the skin. Children enter into this world with an inherent desire to learn, to understand the world around them.

If you are finding instant entertaining comparisons about Can Blockchain Technology Be Used For Voting, and Online Auctions, Business Success you should subscribe for newsletter totally free.

  • Leave a Reply

Enjoyed this video?
"No Thanks. Please Close This Box!"
%d bloggers like this: