- On-chain voting by crypto VIPs
Forging consensus in distributed and often anonymous blockchain networks is a difficult and delicate task. Nevertheless, verifying digital identities for more formalised decision-making processes may be desirable to advance the state of the art of blockchain technology and to counter organised cyber attacks. CryptoCongress contributes an Ethereum-based voting scheme with novel token distribution to reputable digital identities. No less than two-thirds of tokens are distributed to a maximum of 996 digital identities in the cryptocurrency space. The number of tokens allotted to each identity is determined by an algorithmic appraisal of credibility based on quality Twitter followers. These initial tokens are claimed by a smart contract that proves ownership of these known digital identities. In a parallel process, no more than one-third of tokens are distributed to the open market by rolling crowdsale. Transacting parties must own a minimum of tokens to propose measures and vote.
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