CryptoVoter Brings Decentralized Voting To Bitcoin; On Oct. 23, Vote To Increase The Block Size

A decentralized, open-source voting platform called CryptoVoter allows bitcoin holders to vote on bitcoin development issues. The value of each voter’s vote is proportional to how much bitcoin they own, making the system similar to a shareholder referendum.

Introduced by startup Lewes, Del.-based Blockchain Innovation Labs Inc., the CryptoVoter uses the block chain to cast and audit votes. The questions are proposed by bitcoin holders.

cryptovoter 5After each poll deadline, the system scans wallet balances of addresses associated with the votes and automatically calculates the total for each answer and displays the results.

CryptoVoter Polls Bitcoin Users On Development Issues

On Oct. 2, there will be a vote to change the bitcoin logo. On Oct. 23, there is a vote on whether to increase the maximum block size.

“For the first time, the Bitcoin community can objectively gauge coin-holder support for controversial developer proposals and give developers the mandate they need to implement change,” the company noted in a press release.

The CryptoVoter eliminates the need for third-parties to administer, cast or audit votes. Hence, each voter’s bitcoins never leave their wallet when voting. Like shareholders holding shares in

Read more ... source: CryptoCoinsNews