Saturday, June 10, 2023
HomeCrypto MiningEthereum will get personal on-chain voting software by way of a16z’s ‘Cicada’

Ethereum will get personal on-chain voting software by way of a16z’s ‘Cicada’

Andreessen Horowitz (a16z) introduced a brand new personal, on-chain voting software for Ethereum builders known as “Cicada.”

In a weblog submit, a16z developer Michael Zhu acknowledged current on-chain voting options however famous that lots of these techniques are absolutely public and clear.

Working tally privateness

By providing personal voting, Cicada addresses points present in public voting, comparable to vote manipulation and improper voter incentivization.

Cicada particularly permits for operating tally privateness, that means it conceals the variety of votes for every choice till voting ends. This strategy depends on time-lock puzzles, which conceal particular person votes for a set period of time, and homomorphic time-lock puzzles, which mix the opposite puzzles and conceal the general tally.

Zhu stated that Cicada may be used for voter anonymity and poll privateness with the addition of zero-knowledge group membership proofs.

Cicada is a Solidity library, that means it’s suitable with the programming language utilized in Ethereum good contracts. Zhu stated the library is environment friendly sufficient for use on Ethereum’s mainnet (versus layer 2 networks).

Actual-world use not advisable

Zhu acknowledged on Twitter that on-chain voting is just not “not prepared for high-stakes real-world use circumstances but” however expressed hope for future progress.

Within the meantime, quite a few blockchain tasks have governance techniques that depend on on-chain voting. For instance, Uniswap and different DeFi platforms use on-chain governance to decide on which blockchains to deploy to, whereas the stablecoin undertaking Maker makes use of on-chain voting to find out the make-up of its reserves and different selections.

The submit Ethereum will get personal on-chain voting software by way of a16z’s ‘Cicada’ appeared first on CryptoSlate.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments