Should Hive adopt a Quadratic or Square Root or a Double Square Root Voting system?
Hello Friends,
I was turned on to a unique idea today that may address one of the most significant inequalities apparent on Hive. Namely, that Whales/large accounts can influence voting, both positive and negative.
Don't get me wrong; Large account voting is both a blessing and a curse. I am also not pointing fingers at anyone. But if you have been here for a long time, you will know there are times when someone may say or do something that pisses off a Whales, and that Whales will downvote the offending account to the stone age, and that account and author or project will leave Hive. And other times, people buy more significant upvotes that are disproportionate to what the post is worth.
This is also true for proposals for the DHF. Why should a few accounts control what passes or not? This is not in the spirit of a DOA. HIVE can do better!
Hive is meant to be a DOA (Decentralized Autonomous Organization). DAOs are designed to be decentralized and autonomous, meaning they are not subject to the control of any single entity. But with Whales, that sora gets all wonky, so what can be done?
The idea of Quadratic Voting, Square Root voting, or double square root voting may be one path we can take.
- Disclaimer, I am not a master of Quadratic Voting, Square Root voting, or double square root; in fact, I suck at math and find this topic confusing AF... however I can see that it's a unique solution and one that I want to raise awareness about. I believe these solutions could be one step toward equalizing the power dynamic of HIVE, making us a more attractive Ecosystem for developers, content authors, and more. Perhaps these are not the solution, but they are one step in the right direction, or I think at least they should be debated.
Currently, on Hive, in a very simplified analogy, 1 HP equals 1 vote. Ergo, More HP is equal to more votes. This has the problems as outlined above, with few accounts controlling the fate of many and can silence the voices of many they do not like (*A scary thought indeed).
Why not one account, one vote?
For many reasons, that is not good. From fake accounts to not honoring those who have significant investments in the platform, that solution is not good. So, what else can be looked at? Enter the world of math.
Quadratic and Square Root Voting
Both Quadratic and Square Root Voting are very close to each other, from what I read. Quadratic voting is a system in which each voter is allowed to cast multiple votes on a single issue, with the total number of votes cast by that voter on that issue quadratically related to the intensity of the voter's preference. (Sort of in simplified terms, it costs most to vote at a higher percent or more times).
In contrast, square root voting (perhaps better for crypto) is a system in which each voter is allowed to cast a single vote on a single issue, with the vote cast by that voter on that issue being the square root of the voter's preference (stake).
Both quadratic voting and square root voting have their pros and cons. Quadratic voting, while it allows for a more nuanced expression of preference, can be easily manipulated by those with more votes. Square root voting, on the other hand, is more straightforward but doesn't allow for as much nuance.
This is an excellent article on the topic: https://jumpcrypto.com/square-root-voting/
An example of quadratic voting in action is Gitcoin: https://go.gitcoin.co/blog/gitcoin-grants-quadratic-funding-for-the-world
These are both interesting in their own ways and perhaps would make for a good debate by more intelligent people than I. :D
Then there is the following type of voting that builds on these.
The Double Square Root Voting System (DSR)
The double square root voting system (DSR) is a voting system designed to provide proportional representation while ensuring that all votes are equal. The system is used in various countries, including Australia, Canada, and the United Kingdom (I believe).
I recommend you take read at this article to learn more about this : https://hackernoon.com/in-praise-of-the-double-square-root-voting-system-for-blockchain-governance-977fa37f62cd
Here is a quote from that article that addresses the issues on Hive very well.
The double square root voting system can disincentivize vote buying and coercion by introducing uncertainty at another level. Because the required quota is calculated from the vote weight distribution of all participating voters, until the end of the voting period it will be unclear what quota will be required e.g. for a proposal to pass. Only after the voting period is over and all information is known can the outcome be calculated. The uncertainty about voter participation, the decision of other voters, their vote weight and the resulting quota might deter vote buyers from engaging in such manipulation. If the effect that vote buying will have on a specific election is really hard to predict, its expected value becomes quite hard to calculate. As a result, similar to introducing uncertainty about the transaction, introducing substantial uncertainty about the effect that this transaction will have, can prevent or at least disincentivize vote buying. -Source
So, the double square root voting system helps in a way to normalize whale votes but still honors their more significant share in Hive, but also makes vote buying much less exciting as the outcome is not known till the end.
Perhaps a system like this can be implemented in Upvotes and Downvotes, along with in the DHF. This way, all the voices in the hive will have a more balanced say and power in how we as a community grow and develop.
Conclusion
In the end, its about equality.
Equality is the belief that everyone should be treated the same, regardless of who they are or what they do. It is the cornerstone of any society that wants to be fair and just.
Without equality, there can be no true greatness. For greatness to exist, everyone must have an equal opportunity to achieve it. That means that no one, or no project should be held back because of their race, gender, hive power or any other characteristic.
Equality is what allows us to see the potential in everyone. It is what allows us to create a level playing field where everyone can succeed and honors ideas for what they are. And it is what will continue to build greatness in our community on the blockchain.
I don't have the solution, but double square root voting is an idea we should talk more about on Hive. It has the potential to be a more effective way of voting and could help to ensure that everyone's voice is heard. Let's explore this idea further and see if it could answer our current voting woes.
What do you think?
- Do you know about Quadratic or Square Root Voting or double square root voting?
- Has it been talked about on Hive before?
- Are there other systems that may work better?
Thanks for taking the time to read this; I hope you found it interesting.
Cheers