⛓️Voting
A Glimpse into Its Governance, Voting Mechanism, and Ethereum Integration
Atomshares is committed to decentralized decision-making. This section will delve into the intricate design and technicalities that power this commitment.
Ethereum Network & ERC-20 Token Standard
Atomshares voting contract AtomVotes is built on the robust and secure Ethereum blockchain, which provides the backbone for our platform. Our $AS tokens adhere to the ERC-20 standard, ensuring compatibility, interoperability, and various functionalities.
Architecture Overview
AtomVotes employs a modular architecture that blends smart contract logic with off-chain computations to ensure on-chain security while optimizing off-chain efficiency and minimizing gas costs.
Smart Contracts & On-chain Logic
Smart contracts play a crucial role in AtomVotes by initiating new voting events embedding parameters such as start/end times, voting quorum, and options. They also confirm each vote's adherence to set criteria, such as a token holder's voting eligibility or voting status. A contract function consolidates the results post-voting, ensuring confidentiality until the voting period concludes.
Off-chain Signatures & Gas Efficiency
AtomVotes employs meta-transactions to optimize gas expenditures while ensuring scalability and cost-effectiveness. Users sign votes off-chain using private keys, and these signed votes are batched and relayed to the blockchain by a relayer.
Introduction of Gas-Free, Full Off-Chain Voting
As part of our commitment to innovation and efficiency, AtomVotes is introducing a new voting mechanism based on hashing and the InterPlanetary File System (IPFS). This innovative approach is completely gas-free and eliminates the transaction costs associated with on-chain processes. By securely encrypting the votes and storing them in the IPFS, we not only ensure the integrity and confidentiality of each vote but also provide a scalable and cost-effective solution. We also increase the security and auditability of the voting process by linking each vote to the next, creating a small chain of votes. This unique feature provides an additional layer of validation as each vote is linked in a traceable order. To increase trust and transparency, each vote is accompanied by a signed receipt, providing voters with verifiable proof of their participation and the details of their vote, further increasing the reliability and transparency of the entire voting system.
Token Holder Verification
AtomVotes integrates a token-weighted voting system that cross-verifies a token holder's balance with a decentralized oracle and the token's smart contract, ensuring vote weighting's precision.
Transparent Voting Trails
Every voting action is anchored to a unique ID and timestamp, ensuring immutability, transparency and forming a tamper-resistant, chronological record of each vote.
Privacy & Security
To guarantee voter privacy and prevent premature vote counting, AtomVotes incorporates a commit-reveal scheme. Users submit a hashed vote version during the voting window (commit phase), and post the window, they disclose their vote (reveal phase), after which the vote is officially counted.
