Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"
by
dooglus
on 25/11/2015, 20:41:57 UTC
I also believe this can potentially be undermined by "voting" systems that are inherently centralizing (share of voting power is an increasing function of share of stake).

I was talking to Creative about this a couple of days ago. I was voicing my concerns that giving voting power proportional to stake means that the rich get to have their own way at the expense of the poor.

As Benjamin Franklin apparently never said:

  "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote."

I worry that the CLAM rich will vote to disenfranchise the CLAM poor - but Creative points out that the voting system is only a provably fair way of gathering information about consensus. Any change would still be subject to the usual soft-fork rules, requiring a super-majority to be in favour of the fork before it activated. And the "CLAM rich" would have to be pretty short sighted to vote in any change which would be seen as unfair - because that would damage the price of the coin, and so end up affecting them negatively. Adding the ability to express your opinion on-chain in a well-defined way doesn't cause any harm, and allows us to get a clearer view of what the community wants than the current best system we have - that of shouting at each other in forum posts.