Blockchain Voting –
By Ofek B. | 8-11-2022
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Global awareness of blockchain technology skyrocketed after the launch of Bitcoin in 2008, and it has continued to grow ever since. One of the trends we see rising in popularity is blockchain voting. To better understand what this is, you should first become familiar with blockchain technology, which we wrote about in a previous post.
Accessibility - Online access is needed for blockchain voting, and there are still many residents in different countries without immediate access to the Internet.
Technological knowledge – Blockchain technology is still fairly unknown worldwide. A relatively small percentage of people understand it, which creates a significant barrier to its use as part of the voting process.
Scalability - One of the main problems of well-known blockchain-based projects is the ability to generate massive amounts of transactions. For example, Bitcoin can generate 7 TPS (transactions per second)—so if it’s a system that needs to create a large number of transactions (votes) in a short time period, the system may crash or be significantly delayed.
This voting method is based on blockchain technology, and its characteristics are similar to blockchain. For example, a decentralized system allows you to anonymously vote online in a way that’s still completely transparent. The way to use this method is usually through software or a dedicated application based on blockchain technology. You can find different uses of blockchain voting, mainly in elections for organizations and businesses.
What is blockchain voting?
What makes blockchain voting unique?
A few blockchain voting challenges
Speed - Online voting makes the entire process faster and more efficient. In addition to the voting itself, counting the votes happens in real-time and saves a lot of resources involved with tabulation.
Credibility – Blockchain technology ensures that the information is transparent, unchangeable, and permanently documented. In addition, it’s managed by an organized computing system. Since it’s not primarily controlled by humans, blockchain voting prevents human errors.
The blockchain voting method is new and already has several significant advantages that can compensate for many problems in the current voting system. It also has challenges that must be overcome to make it truly meaningful and valuable. Will it replace our main way of voting in the future? Only time will tell.
In conclusion
The New Voting Trend
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