When people think about Ethereum, they immediately come to mind, the developer of the Protocol acne Buterin, who became a multimillionaire thanks to his idea. Without a doubt, Buterin is a leader for the community, even if the decisions are somewhat decentralized. In addition, the most active developers of Ethereum too, have an opinion on the development of technology.
Recently, however, the decision-making Protocol was questioned because there had been a series of controversial proposals, whether the development of new
equipment for mining or recovery
lost funds due to various vulnerabilities.
As soon as the community discusses the pros and cons of such proposals, Buterin began working with an economist and researcher Dr. Glen Weyl (Glen Weyl) in order to experiment with the idea of introducing a new type of voting for users of Ethereum. In its communication of 21 may, which focuses on cooperation, Buterin described how ideas from recent books Weil «Radical markets» can help solve the problems of management and coordination of decision-making on controversial issues.
Weil, who received his doctorate in Economics from Princeton University and is currently working as a researcher at Microsoft, explained that quadratic voting is intended to focus voters on the issues they are interested in and which I understand. In this system, the voices will not be evenly distributed between members — users can purchase additional voices to give more weight to his opinion on certain issues.
«The idea is that the system allows people to demonstrate how important a particular decision, not just to Express their opinion on certain issues,» said veil.
The partnership was launched at a time when other researchers Ethereum began to unite to come up with ways to best estimate the sentiments of the community. Although Buterin not directly involved in these meetings, in the blog, he expressed his conviction that the current proposals for decentralized decision-making or give too much power to those who owns the air, or, in an attempt to reach a greater number of stakeholders become vulnerable to attacks of fake accounts and malicious parties trying to influence the vote.
Based on this Buterin and veil write that offer on quadratic voting is the most «reasonable alternative» to other forms of decentralized management. Weyl noted:
«Quadratic voting allows you to make decisions for the greater number of people.»
Statement Baterina and Weyl on the matter similar to the view expressed earlier this month by Virgil Griffith of the Ethereum Foundation is a non — profit organization that funds research related to the Ethereum. He stated that he is looking for applications for projects wishing to carry out the control experiments based on the theories of Weyl.
In the recording Buterin veil and hint at possible applications of the method.
«Citizens can use a (possibly fake) currency with the purchase of votes for voting on the most important issues for them», — said in a blog post.
Vale confirmed it with his comment. He said
«We would like to create a voting system in which people make transactions. I refuse to vote for isn’t important issues, you do the same – and everyone is happy».
In an attempt to prevent the purchase of a large number of votes in small elite groups and their disproportionate impact on the voting results, the system will have a price of over 1 000 votes 1 000 000 credits, which should prevent this. Weil explained that the development of this system is an attempt to merge economic theory and technology system. He said
«Even if a specific solution will work not how we want the developer community mechanisms so naturally interacts with the community of the block chain that we will be able to establish real cooperation between them.»
Although the veil is not involved in the technical issues of constructing a model for Ethereum, he believes that this is the first step to a deeper cooperation between these communities.
It is surprising that these two communities previously rarely interacted with each other, since they both allocate among its core values and plans for future cooperation, equality and decentralization.
«Our ultimate goal is to create a society that will work in new ways,» said veil.
However, Weyl noted that the current governance structure of the blockchain projects does not reflect their values.
Due to the lack of a formal control method, the Ethereum community in particular faced difficulties in reaching consensus on key issues for many years. As example is the debate after cracking the DAO, which resulted in the division of community, hardwork network and the emergence of Ethereum Classic. While the management chain to some extent exist, and new methods are tested on other protocols, such as Polkadot
Gavin wood (Gavin Wood), some believe that these methods lack the equity necessary to open the block chain.
Community are at a crossroads. On the one hand, more traditional structures of voting, in which each person gets one vote, do not consider that the view of some participants has more weight. But, on the other hand, if the system users will be able to buy votes for their funds, the community can face the same problems that exist today in the real world, when the rich have much more power than the poor.
«Quadratic voting allows us to find the perfect balance between these two ideas,» said veil. «This is consistent with the desires of the system — on the one hand, to have an egalitarian flavor, but to recognize that community members have different involvement in the issues concerning its development.»
Identification is the key to success
However, there are technical problems that need to be addressed before such a system becomes viable.
For example, Weil notes that quadratic voting can only work if voters have confirmed his identity. Otherwise, it is open to manipulation. If one user can sell their votes through various accounts that he can use the system to their advantage.
«I hope that the blockchain will not become a space without identification, as in this case, it will become plutocratic area, and this is not consistent with the ideas of people in the community,» said veil.
But Vale is not particularly worried about this, as restructuring identify, the Internet was a hot topic both inside and outside the community of the blockchain for some time.
Overall, however, despite whether the system is implemented quadratic voting in Ethereum, wyl hoped that in the future the blockchain will be a «critical testing ground» for a thorough examination of the effectiveness of quadratic voting, potentially scale it to larger political systems. Weyl concluded:
«We’re really trying to build bridges between the creation of the radical mechanisms and the community on the one hand, and the community of Ethereum on the other.»