Coin-holder ballot: outcomes abstract – Electric Coin Company


As we’ve communicated beforehand, we consider ZEC holders are central to undertaking our mission, and it’s crucial we offer them a way to precise their opinions concerning the path of Zcash. 

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

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

In this put up, we define ballot outcomes, in addition to subsequent steps.

Poll outcomes

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

ZEC holders 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 complete votes acquired. 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 isn’t clear as nearly all of cash have been voted as different with 56.4% and ideas that included elevated advertising and marketing, a trustless bridge to the Secret Network, enabling a cross-chain DEX, NFTs and sensible contracts. This was adopted by scalability (31.8%), programmability (7%), ZSAs (3.2%) and shifting away from proof of labor (2.6%).

The remaining query was whether or not to contemplate amendments to ZIP 1014. The responses indicated that ZEC holders most popular contemplating amendments by 51.5%. However, a utilization error of the polling software led to a big skewing of the outcomes.

If the outcomes are taken instantly from the tally script, then the 2 choices acquired practically equal coin weights for each sure and no choices. One tackle voted no whereas twenty addresses voted sure. However, it seems that one entry with 22.7k ZEC meant to vote sure right here, however made a syntax error of their response. If we embody this response as a sure, the outcomes seem within the “Question 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 tackle no.

Full ballot outcomes are summarized right here.

ZEC coin-holder polling as in contrast with different polls

We consider you will need to embody coin-holder sentiment as a measure of the group’s will. There are additionally different attention-grabbing types of community-sentiment gathering, such because the Zcash Foundation ZCAP ballot, and different community-driven polls, such because the ballot run by @aquietinvestor on the Zcash Forum 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 well-liked choice within the ZCAP ballot, indicating sturdy group assist for that initiative. 

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

In the ZECpages polls (right here and right here), the questions associated to Zcash priorities acquired 27 and 13 responses, respectively. 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 sure on what number of people participated, assuming nobody pooled funds collectively to take part. By distinction, the Zcash Foundation Community Advisory Panel Poll (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, Question 1, and we’d contemplate this an higher sure just like the ECC coin-weighted ballot. 

Next steps

All of this info is helpful, and we’re persevering with to interact in analysis to tell our product technique. We are working diligently on a long run roadmap and can launch our plan and suggestions as quickly as this spherical of analysis is full.

ECC may even proceed to research methods to assemble coin-holder sentiment in a permissionless method. We applaud efforts of the Zcash Foundation, different group members reminiscent of @aquietinvestor and ZECpags, and encourage the Zcash group to run extra of those sorts of experiments.

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