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 specific their opinions concerning the route of Zcash.
On the similar time, we’re shifting our technique to higher 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, improvement and R&D efforts. Coin-holder polling is one supply of knowledge.
Final week ECC concluded a non-binding, coin-weighted ZEC-holder ballot to collect enter relating to improvement priorities for Zcash and potential amendments to ZIP 1014.
On this put up, we define ballot outcomes, in addition to subsequent steps.
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 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 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 the vast majority of cash had been voted as different with 56.4% and options that included elevated advertising, a trustless bridge to the Secret Community, 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 ultimate query was whether or not to contemplate amendments to ZIP 1014. The responses indicated that ZEC holders most well-liked contemplating amendments by 51.5%. Nonetheless, a utilization error of the polling software led to a major skewing of the outcomes.
If the outcomes are taken instantly from the tally script, then the 2 choices acquired almost equal coin weights for each sure and no choices. One deal with voted no whereas twenty addresses voted sure. Nonetheless, 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 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 deal with no.
Full ballot outcomes are summarized right here.
ZEC coin-holder polling as in contrast with different polls
We consider you will need to 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 may be alignment whereas in different areas, opinions diverge. For instance, shifting away from proof of labor was the preferred choice within the ECC coin-holder ballot and the second-most fashionable choice within the ZCAP ballot, indicating sturdy neighborhood help for that initiative.
The proof of alignment is much less clear relating to different initiatives akin to ZSAs, programmability and scalability. For instance, programmability was a preferred choice within the ZCAP ballot however was considerably much less fashionable within the coin-holder ballot. ZSAs had been considerably extra fashionable within the ZCAP ballot than they had been within the coin-holder ballot.
Within the ZECpages polls (right here and right here), the questions associated to Zcash priorities acquired 27 and 13 responses, respectively. Right here once more, change in consensus mechanism was the preferred alternative as the primary precedence for Zcash. Scalability was the primary alternative as voters’ second precedence.
The coin-holder ballot concluded with 23 legitimate entries, which can be an higher sure on how many individuals participated, assuming nobody pooled funds collectively to take part. Against this, the Zcash Basis Neighborhood Advisory Panel Ballot (ZCAP) which concluded on September 1, 2021, had 90 individuals and the discussion board pool over 100 for many questions. As of this writing, the ZECpages ballot questions had 27 votes for the preferred query, Query 1, and we’d contemplate this an higher sure just like the ECC coin-weighted ballot.
All of this info is beneficial, and we’re persevering with to interact in analysis to tell our product technique. We’re working diligently on a long run roadmap and can launch our plan and suggestions as quickly as this spherical of analysis is full.
ECC can even proceed to analyze methods to collect 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.