5-(B) - Security issue of coins
Pancake last edited by Pancake
Having to move your coins to vote, this might cause a higher risk to loose them by accident. We should find a way to allow the “voting coins” to reside in their individual “safe” storage condition, while still be able to express their voting power.
dadon last edited by
how about votes calculated by amount of time/blocks staked. say every 7 days worth of blocks that your are online staking aka supporting the network you earn 1 point = 1 vote. then large whales would have no advantage over smaller holders.
The reason I propose this is because you would need to earn your right to vote by securing the network and your voting capacity would be limited by the amount of time spent securing network instead of the amount of weight securing the network.
right now I could hold my coins on an exchange if I see something I want to vote on I just move my coins over wait for the allocated hours to pass before I can vote(I think same waiting time as to stake) and then I can vote on everything flagged. If voting rights was determined by time staking and a set amount of votes allocated for that time frame and those rights reset every time a certain % of coins moved from wallet (eg 50%) it would be much more time consuming for a bad actor(most probably a large holder) to manipulate the voting process.
I think votes should be earned by supporting network and I think only nodes who actively secure network should have voting rights.
Pancake last edited by
Staking Voting sounds interesting. I also have something similar in mind, since the owned staking rewards over a certain period typically would correspond closely to the real distribution of the overall staking coins during this period. If the owner of the staking rewards would accept to have their reward coins locked for this certain period of time, you could use only those limited number of locked reward coins for voting at the end of that period, while the principal underlaying larger number of staking coins are free to spend or to move.