By
Starknet’s Snapshot X: Gasless Voting for DAOs
https://ift.tt/tkv06EI
This innovation revolutionizes governance by eliminating gas fees, lowering costs, and enhancing security.
Snapshot X is built on Starknet’s roll-up technology. It combines scalability and efficiency to facilitate a more streamlined voting experience. Let’s discover more about gasless voting in Starknet.
Gasless Voting: Lower Costs and Enhanced Security
The protocol addresses the cost and inefficiency issues traditionally associated with on-chain voting. It will move away from the centralized off-chain methods that have been prevalent in the governance space.
Previously, voting on-chain required participants to pay gas fees. This could range from a few dollars to over ten dollars per vote. This often discouraged active participation and created a barrier to entry for many users. With Snapshot X, participants can now vote without incurring these costs, making the process more accessible and democratic.
Source: X
Also, Eli Ben-Sasson, CEO of StarkWare and a board member at the Starknet Foundation emphasized the significance of this development in a recent Q&A with Cointelegraph. Ben-Sasson highlighted that the new protocol would enable many DAOs and blockchain entities to adopt gasless voting. He remarked, “Those with voting rights with DAOs that currently vote on-chain need never again be expected to pay gas fees to vote, which has been a very real phenomenon. Sometimes, people have been expected to pay 10-plus dollars just to vote — a real democracy turn-off.”
So, the introduction of Snapshot X represents a major leap forward in governance technology. By removing financial barriers, the protocol encourages greater participation and engagement within DAOs and other decentralized communities. It aligns with the broader trend of making blockchain governance more inclusive and user-friendly.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Starknet’s Snapshot X: Gasless Voting for DAOs appeared first on Altcoin Buzz.
news
via Altcoin Buzz https://ift.tt/JYiKGlD
September 9, 2024 at 09:08AM
September 9, 2024 at 09:10AM
via Comments on: Starknet’s Snapshot X: Gasless Voting for DAOs https://ift.tt/tkv06EI