Commitment Voting: A Mechanism for Intensity of Preference Revelation and Long-Term Commitment in Blockchain Governance

4 Pages Posted: 11 Dec 2020

See all articles by Chris Berg

Chris Berg

RMIT University

Sinclair Davidson

RMIT University

Jason Potts

RMIT University

Date Written: December 4, 2020

Abstract

Commitment voting is a mechanism for signalling intensity of preferences and long-term commitment to governance decisions in proof of stake blockchains. In commitment voting, the voting weight of a vote in any given election is determined by 1) the amount of tokens under a voters control and 2) the time that the voter is willing to lock their tokens up for that election. Winning votes are locked up for the nominated amount of time. Losing votes are released as soon as the election has results. Commitment voting requires voters to commit to the decisions they make while still allowing those who disagree with the majority to exit the community.

Keywords: voting, commitment, blockchain, intensity of preferences

JEL Classification: D71, D72, D82, H41, P16

Suggested Citation

Berg, Chris and Davidson, Sinclair and Potts, Jason, Commitment Voting: A Mechanism for Intensity of Preference Revelation and Long-Term Commitment in Blockchain Governance (December 4, 2020). Available at SSRN: https://ssrn.com/abstract=3742435 or http://dx.doi.org/10.2139/ssrn.3742435

Chris Berg (Contact Author)

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

Sinclair Davidson

RMIT University ( email )

124 La Trobe Street
Melbourne, 3000
Australia

Jason Potts

RMIT University ( email )

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