Re: [ANN][VOT]: VoteCoin - a new era of anonymous crypto democracy
Staked Polls
This is kind of a new concept, even if it is used in certain common situations. It basically means you are betting money on your decision, and push the power of your vote with actual value. "paying for winning" is a major concern, thats why the tiny but powerful option on the lower right side allows poll organizers to limit participation just to the coins they distributed. For example, the organizer could give an equal number of coins to the people that should vote, or variable number of vot coins depending on internal rules of that community (lets say older members get more vote power than new ones).
This ensures that raw financial power will not sabotage the vote result.
Decision funding
In case it is a public vote, where its all about getting people to invest in one or an other decision (decision funding), then anyone can push as many coins as he wants in his vote, because that wouldn't be sabotage, instead it will fit exactly with the purpose of the poll.
Crowd funding
This is similar to decision funding, but used for a different purpose. In a decision funding you might need only members of that specific group or community to participate in the decision, but in crowd funding, it should be possible for anyone to put his money only in the development branch he wishes to.
Public Bets
This a very interesting use case scenario. We are not sure if it will be presented as a separate feature or it will be based just on the existing functionality. As an example, an organizer could hold such a public bet, and offer 70% of the accumulated VOT as jackpot/reward to the winner(s), and keep 30% for himself.
This would be an interesting way to earn VOT and play at the same time, but we are concerned about technical ways to prevent fraud (ideas are welcome as always).
We have in plan many adjacent features that will make all this easier and more clear to use, but this is a first preview with a more technical perspective of what we are trying to create here
PREVIEW IS HERE:
This is kind of a new concept, even if it is used in certain common situations. It basically means you are betting money on your decision, and push the power of your vote with actual value. "paying for winning" is a major concern, thats why the tiny but powerful option on the lower right side allows poll organizers to limit participation just to the coins they distributed. For example, the organizer could give an equal number of coins to the people that should vote, or variable number of vot coins depending on internal rules of that community (lets say older members get more vote power than new ones).
This ensures that raw financial power will not sabotage the vote result.
Decision funding
In case it is a public vote, where its all about getting people to invest in one or an other decision (decision funding), then anyone can push as many coins as he wants in his vote, because that wouldn't be sabotage, instead it will fit exactly with the purpose of the poll.
Crowd funding
This is similar to decision funding, but used for a different purpose. In a decision funding you might need only members of that specific group or community to participate in the decision, but in crowd funding, it should be possible for anyone to put his money only in the development branch he wishes to.
Public Bets
This a very interesting use case scenario. We are not sure if it will be presented as a separate feature or it will be based just on the existing functionality. As an example, an organizer could hold such a public bet, and offer 70% of the accumulated VOT as jackpot/reward to the winner(s), and keep 30% for himself.
This would be an interesting way to earn VOT and play at the same time, but we are concerned about technical ways to prevent fraud (ideas are welcome as always).
We have in plan many adjacent features that will make all this easier and more clear to use, but this is a first preview with a more technical perspective of what we are trying to create here
PREVIEW IS HERE: