Choice Coin: A Solution to the Decentralized Governance Problem

Is this authorised my algorand team ?

2 Likes

What do you mean? Generally, in an open blockchain network, like Algorand, authorizations are not required because code essentially operates as law. In this instance, we created an ASA on the Algorand Network.

3 Likes

1 algo 1 vote isn’t right

Thanks for the feedback. So, we are not using a 1 Algo = 1 vote mechanism. To be clear, we created a new ASA, Choice Coin, to facilitate voting on the Algorand Network. We also just released a new paper on decentralized decision making using Choice Coin on Algorand. Feel free to read the paper and provide feedback, using this LINK. If you do, optin to recieve Choice Coin, post your public address along with the feedback, and I will send you some Choice Coin. Thanks again!

2 Likes

I do not understand your choice coin…

You sell the choice coin so that some people can ask a question an that person will get the choice coin depending the address of the option? Does not that mean that the people are buying the the choice? Like if you make the proposal on who gets the money the one that pays the most gets it? :slight_smile:

Can you please take a look at my recent video and give me the feedback? Public voting using algorand network - YouTube

My proposal for decentralized voting system does not require additional asa, even though it can be basically used under any asa.

My solution solves

  • The non interaction issue (when someone does not want to interact he set his vote power redirect - delegation)
  • The multidelegation of your trust - you can trust several people with different weights
  • The wisdom aggregation - You can delegate your vote power in specific category … eg you know the good IT guy, so you give him your trust in the IT
  • Minimize the costs for the decision - you do not have to vote on every decision, you can make chain of your accounts so that with the 1 coin 1 vote you have to vote only once
  • Solves the issue 1 coin 1 vote vs 1 person 1 vote - does not interpret the data, just creates the solution how to calculate the result
  • Everything is public, auditable, decentralized…
  • Not limited to one application - everyone can make simple note in any wallet, even multisig … anybody can read data from the blockchain using other applications and audit it

I think it would be much better to cooperate, and you can write for example accademic paper on my implemented solution with comparision with other solutions where you compare eg how much does it cost to run in one year, how fast the decisions can be done and so on…

4 Likes

Feedback on your video

I think the UI looks great, but it is a little complex - meaning there is too much data on the front end for everyday users. There is a heavy focus on delegation, I’m not sure that is necessary. Your idea to have a trusted account voting protocol is innovative, but it essentially acts as a validity mechanism which could be validated by an administrator in any number of ways. I like the idea of being able to ask questions directly. Overall, great demo - thanks for putting that together, it helps to see something visually and you were clear in your explanations and communication.

Your solution and Choice Coin

First, it seems like your voting system is a specific solution - to governance on Algorand. Our solution with Choice Coin is generalizable, meaning it is meant to facilitate voting across industry for various applications.

Second, you mentioned your system does not require an additional ASA. The Fortior Voting Protocol also does not require an additional ASA. However, having an additional ASA is a benefit rather than an impediment, particuarly from a business perspective. If you look at the main financial difference between Ethereum and Algorand, Ethereum has many ERC-20 tokens with real value built on the Network - for example, Uniswap, ChainLink, and GitCoin. Our goal for Choice Coin is to be a similarly supporting asset for the Algorand Network. Having a liquidity mechanism available for ASAs on Algorand would increase the value of the Network 10x with the opportunity to scale much higher. So, the new ASA is vital to the application because it is a way to capture real value for the Network as a whole.

Third, the ASA, Choice Coin, also allows for symbiotic votes for specific purposes, such as political elections or corporate voting. You can sell a token silo to an organization and then create a new token specifically for their voting needs, such as Congressional Election 2024 Token.

Collaboration

We would appreciate the opportunity to collaborate with you. In fact, we recently launched our Open Source Development Program, which will allow developers to be rewarded for their contributions to the Choice Coin Github. If you make a pull request with your OSS on our voting repo, we will compensate you with 25,000.00 Choice pursuant to the program terms and conditions, which are available on our website.

P.S.

I tried to donate some Choice to the QR Code on your video, but you haven’t opted in yet. If you opt-in, I will send you some!

Actually i did not do it for the algorand governance … I think that it is not possible to change what they are preparing (i have no idea how they will technically do it)
I made it to be absolutely generic, so if anyone who has any token he can make the voting system with all these features… The delegation is tecnically not required… It is the feature.
I believe in knowledge based pure democracy… My solution is the implementation for that.

I can update the app that it works on any (selected) assets… This way the voting can work on the Choice coin also…

Do you have any technical specification for your voting?
Like the voting is placed to the blockchain with note
avote-question/v1:j{"t":"Hello world","q":"How do you like this voting system?","max":16024568,"category":"community","o":{"1":"I love it","2":"I like it","3":"I dont like it","4":"I dont want decentralized voting"}}

The answer is placed to the blockchain with note

avote-vote/v1/QKMLMEWCNL:j{"q":"QKMLMEWCNLDG5IB5JHMQQXJX6YYND66ALXTJIOXMVMQT3OYTKQ6A","a":{"1":100,"2":10,"3":0,"4":0}}

some json schema, or anything?

If you have not yet done anything with this perhaps you can addopt my proposal… If you have decided on how it will work, can you please describe it in some simple manner? Also if you could pinpoint some differences it would be great.

To use the custom ASA, for example for the election you have mentioned the main issue is the distribution between users.

1 Like

This is helpful, thank you! You can check out our voting paper using this (LINK). You can view the code in our voting repo using this (LINK). Thanks for opting in - I sent you some Choice! To learn how to get more, check out our participation programs (LINK). I hope you will complete a pull request in the voting repo, your work would be a great addition and we would appreciate the opportunity to develop future collaborations. If you have specific questions about details, feel free to send me a direct message. Thanks!

1 Like

Your system fails at several points…

The decision is made on how many coins have you bought? The wise decisions are not those with money but those who knows what is the best…

It seems you can do only one decision at the time.

The voting system should not do interpretation of the vote… Who knows if the intended questioner wants to do poll of eg any results that gets over 20% of votes are accepted, or first 3 options from 10 are the best. The voting system must just count the votes, not interpret the data.

I am missing there the delegation of knowledge.

You write nice academic papers, but I doubt this can be used in reality… Can you please take a look at my implementation? The video should cover it in quite depth, and btw it is already on the mainnet…

These are not failures or faults in the system. It is generalizable and flexible by design. If you have suggestions for improvement, fork the code on GitHub and then do a pull request. Follow the rules in our participation program and you will be appropriately rewarded.

I think one thing you need to keep in mind is that demand drives the market. It doesn’t always matter what you the innovator wants, we have a customer centric focus. So, we are willing to adapt our models to meet customer need. At the same time, we are innovating through our open development strategy, of which we invite you to be a part.

1 Like

Nice try.

we are willing to adapt our models to meet customer need
It's getting better... all the time
we are innovating through our open development strategy, of which we invite you to be a part
like Mozart and Salieri in Peter Sellers play. You can bet, who is Salieri here.......

Update

Choice Coin is now verified on the AlgoExplorer. (LINK)

1 Like

Update

Choice Coin is now on TinyMan!

2 Likes

Really love the project! @bhaney44, especially the participation program is a really smart way to bring value into the project without ruining the value proposition of CHOICECOIN, already learning a lot!

1 Like

I think Choicecoin acts as a crypto primitive for decentralized voting, it does need a separate ASA in order to allocate capital towards solving this specific problem. It won’t be able to solve this problem without having a specific ASA, and that’s why ASAs were invented by the Algorand Network and Team

Update

Choice Coin is now the largest open source project on Algorand with over 11,400 users. Check out our GitHub to get started building the best voting software. To get Choice, check out TinyMan, which is a liquidity pool software for ASAs.

YouTube Interviews:
Algorand Interview
Algonauts AMA

1 Like

Update

We are elated to announce we have received a grant from the Algorand Foundation to continue our work on Choice Coin and Decentralized Decisions. (Press Release)

1 Like

Good job bhany, Greenrex its Astylz
You are doing a good job
Keep it up

Choice Coin is a governance token and open source software for decentralized voting. The Choice Coin Network is prioritizing democracy, and will incentivize its participants to help it fundamentally change how decisions are made on a large scale. Choice Coin solves the decentralized voting problem by introducing a digital asset for voting on a distributed ledger.

Choice Coin is also entirely open source, with no formal strucutre or entity attached to it. Since its inception, Choice Coin has attracted a plethora of contributors from all over the world.

Choice Coin has been inspiring to alot. With a very decentralized community choice aims at making voting processes fair and void of malpractice. Everyone can access voting no matter where you are as long as you know about blockchain which alot had been in place to teach people alot about the Algorand chain

Choice Coin is an open-source project built on the Algorand Blockchain as an ASA. Built with the community’s support, Choice Coin represents the next level in capturing Algorand’s technical edge. A token built for democracy, Choice Coin powers voting algorithms that hope to fundamentally change how large-scale decisions are made

Choice coin has a real life use case and is not just a coin but a way of life. Decentralised decisions have been an issue in the blockchain world and Choice coin seeks to make this a thing of the past.

It will be used in every sphere of life and that’s what makes this coin so special. The value which it seeks to create is something that will be used in years and years to come.

With an ever growing active community, the owners Brian Haney and Archie Chadhaury have built a project which everyone is a part of and that’s the very essence of what Choice is all about.