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Coin-holder ballot: outcomes abstract – Electrical Coin Firm


As we’ve communicated beforehand, we imagine ZEC holders are central to conducting our mission, and it’s crucial we offer them a way to specific their opinions concerning the route of Zcash. 

On the identical time, we’re shifting our technique to raised align our focus with the wants and wishes of ZEC customers. To that finish, we’re gathering data throughout a myriad of sources to assist us higher advise and plan our go-to-market, product, improvement and R&D efforts. Coin-holder polling is one supply of data.

Final week ECC concluded a non-binding, coin-weighted ZEC-holder ballot to assemble enter relating to improvement priorities for Zcash and potential amendments to ZIP 1014.

On this publish, we define ballot outcomes, in addition to subsequent steps.

Ballot outcomes

The ballot concluded at block top 1410115 with 23 legitimate entries and a complete weight of virtually 41,000 ZEC, price over $4.7M at present ZEC costs.

ZEC holders who participated within the ballot strongly supported altering Zcash’s mining algorithm away from proof of labor as their first precedence, as measured by weight, receiving 85% of the weighted vote. It additionally led within the variety of whole votes obtained. This was adopted by different (12.8%), scalability (1.2%) and ZSAs (1%). There have been no votes for programmability

The second precedence for ZEC holders who participated within the ballot isn’t clear, as nearly all of cash have been voted as different with 56.4% and solutions that included elevated advertising, a trustless bridge to the Secret Community, enabling a cross-chain DEX, NFTs and good contracts. This was adopted by scalability (31.8%), programmability (7%), ZSAs (3.2%) and shifting away from proof of labor (2.6%).

The ultimate query was whether or not to contemplate amendments to ZIP 1014. The responses indicated that voters most popular contemplating amendments by 51.5%. Nevertheless, a utilization error of the polling device led to a major skewing of the outcomes.

If the outcomes are taken immediately from the tally script, then the 2 choices obtained practically equal coin weights for each sure and no choices. One handle voted no whereas twenty addresses voted sure. Nevertheless, it seems that one entry with 22.7k ZEC supposed to vote sure right here, however made a syntax error of their response. If we embrace this response as a sure, the outcomes seem within the “Query 3 Modified” part of the spreadsheet linked under. There are ~28k ZEC supporting sure (84.9%) and 5k ZEC (15.1%) supporting no with 21 addresses voting sure to 1 handle no.

Full ballot outcomes are summarized right here.

ZEC coin-holder polling as in contrast with different polls

We imagine it is very important embrace coin-holder sentiment as a measure of the neighborhood’s will. There are additionally different fascinating types of community-sentiment gathering, such because the Zcash Basis ZCAP ballot, and different community-driven polls, such because the ballot run by @aquietinvestor on the Zcash Discussion board on the way forward for the ZOMG, and the ZECpages polls (right here and right here). In some areas, there’s alignment whereas in different areas, opinions diverge. For instance, shifting away from proof of labor was the most well-liked choice within the ECC coin-holder ballot and the second-most in style choice within the ZCAP ballot, indicating robust neighborhood help for that initiative. 

The proof of alignment is much less clear in the case of different initiatives akin to ZSAs, programmability and scalability. For instance, programmability was a well-liked choice within the ZCAP ballot however was considerably much less in style within the coin-holder ballot. ZSAs have been considerably extra in style within the ZCAP ballot than they have been within the coin-holder ballot. 

Within the ZECpages polls (right here and right here), the questions associated to Zcash priorities obtained 27 and 13 responses, respectively. Right here once more, change in consensus mechanism was the most well-liked selection as the primary precedence for Zcash. Scalability was the primary selection as voters’ second precedence.
The coin-holder ballot concluded with 23 legitimate entries, which can be an higher certain on how many individuals participated, assuming nobody pooled funds collectively to take part. In contrast, the Zcash Basis Neighborhood Advisory Panel Ballot (ZCAP) which concluded on September 1, 2021, had 90 contributors and the discussion board pool over 100 for many questions. As of this writing, the ZECpages ballot questions had 27 votes for the most well-liked query, Query 1, and we would contemplate this an higher certain just like the ECC coin-weighted ballot. 

Subsequent steps

All of this data is beneficial, and we’re persevering with to have interaction in analysis to tell our product technique. We’re working diligently on a long term roadmap and can launch our plan and proposals as quickly as this spherical of analysis is full.

ECC may also proceed to analyze methods to assemble coin-holder sentiment in a permissionless method. We applaud efforts of the Zcash Basis, different neighborhood members akin to @aquietinvestor and ZECpags, and encourage the Zcash neighborhood to run extra of those sorts of experiments.

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