Voting is a very important part of any democracy because it enables citizens to participate in the democratic governance process. In a democracy, the goal of the vote is not only to create a government, but to a collective effort that moves the interests of society and the economy.

The main purpose of voting around the world is to make sure that it is fair and transparent. The traditional voting system has been around for years, but it’s now safe to say it’s past its time. Problems such as double voting, wrong voting, and privacy concerns repeatedly appear in the news, demonstrating the inefficiency of the current system.

Additionally, organizing voting on a large scale is time consuming and costly. For example, India spent about $ 8 billion on the 2019 national elections, and it took about 40 days to complete the entire voting process.

Thus, we can say with confidence that the traditional sound system has the disadvantages not only in terms of safety and the time it takes, but also in terms of the cost of organizing the entire process in a flawless manner.

Voice of the Internet – the solution?
Can we say then that online voting is the solution to all problems facing the current traditional voting system? Internet pilot projects have been implemented all over the world, but were discontinued after a while.

Economic challenges such as internet access, training, and adaptation to the population’s new voting style can still be overcome through development and training.

But security risks (computer viruses / hacking) and scalability mechanisms limit the beta program. Moreover, online voting basically cannot guarantee one vote per person and the high cost of its implementation affects the implementation.

Does the lock support the solution?
A technical implementation of blockchain voting is definitely a good alternative, since the decentralized consensus protocol provides security up to a certain point, and is more secure than the current centralized voting method.

However, this leads to certain problems, such as:

Scalability: The blockchain does not scale today.
On the Ethereum blockchain, only 15 transactions can be confirmed per second. This means that as the number of voters increases, it takes longer to vote on the blockchain to complete the voting process.

For example, when the second smallest country in the world, Tuvalu, which has a population of 10,600, plans to select it on the Ethereum blockchain, for example, it will take about 11.5 minutes (10600/15 = 706 seconds) throughout the voting period the process will be completed. . But given a country like India of 1.4 billion, it would easily take around three years before the entire voting process on the Ethereum blockchain was completed.

It is almost impossible to accommodate such a time frame in a large democracy.

Energy Consumption: Blockchain consumes far more energy than any existing system.
For example, the Ethereum blockchain uses 1.02 kilowatt hours per transaction. In a country like Tulavu, blockchain power consumption was found to be 10.8 MWh in a blockchain survey, which would not have a significant negative impact on the environment. But on the other hand, for a populous country like India, a vote on the blockchain, if implemented with Ethereum, would ultimately require 1,428 gigawatt hours.

Not only are energy costs extremely high, but they also have negative (if not harmful) impacts on the environment.

Security: Although the blockchain is secure, 51% is affected, with malicious nodes occupying 51% or more of the network. Since the rating is something that can change the state of the economy, the likelihood of hacking / fraud is very high.
Identity: The current blockchain cannot fully guarantee a decentralized identity.
How should blockchain protocols be designed to be scalable, secure, and consume less energy?

For scalability. Instead of all nodes validating all transactions, only a subset of randomly selected nodes can validate the transaction. Thus, the entire network can confirm more than a million transactions in a consistent manner.
This is shown below using a super geometric distribution.

On the network, only 200 randomly selected nodes are needed to validate a transaction with 99.999999999% confidence.

Energy consumption. The Proof of Work algorithm developed in Bitcoin (called HashRate PoW) must be replaced by PoW, which uses less power, as only 200 nodes are required to validate a transaction. It should ideally rank energy consumption 3.6 billion times less than Bitcoin.
protection.

Source: CoinTelegraph

LEAVE A REPLY