Ethereum gets private on-chain voting tool through a16z’s ‘Cicada’

CryptoSlate

What is CryptoSlate Alpha?

A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›

Connect via Access Protocol

Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›

Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.

Get Up to 10,000 USDC on Your First Top-Up

Learn More

Unveiling Cicada, the private on-chain voting tool for Ethereum developers, and its game-changing potential using time-lock puzzles.

Cover art/illustration via CryptoSlate

Andreessen Horowitz (a16z) announced a new private, on-chain voting tool for Ethereum developers called “Cicada.”

In a blog post, a16z developer Michael Zhu acknowledged existing on-chain voting features but noted that many of those systems are fully public and transparent.

How To Get Free Crypto  

Running tally privacy

By offering private voting, Cicada addresses issues found in public voting, such as vote manipulation and improper voter incentivization.

Cicada specifically allows for running tally privacy, meaning it conceals the number of votes for each option until voting ends. This approach relies on time-lock puzzles, which conceal individual votes for a set amount of time, and homomorphic time-lock puzzles, which combine the other puzzles and conceal the overall tally.

Zhu said that Cicada could also be used for voter anonymity and ballot privacy with the addition of zero-knowledge group membership proofs.

Cicada is a Solidity library, meaning it is compatible with the programming language used in Ethereum smart contracts. Zhu said the library is efficient enough to be used on Ethereum’s mainnet (as opposed to layer 2 networks).

Coinbase Banner  

Real-world use not recommended

Zhu acknowledged on Twitter that on-chain voting is not “not ready for high-stakes real-world use cases yet” but expressed hope for future progress.

In the meantime, numerous blockchain projects have governance systems that rely on on-chain voting. For example, Uniswap and other DeFi platforms use on-chain governance to choose which blockchains to deploy to, while the stablecoin project Maker uses on-chain voting to determine the makeup of its reserves and other decisions.

Get a Daily Summary of Crypto News, Insights and Market Data Straight to Your Inbox.

Go to Source
Author: Mike Dalton


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.