Choice Coin: A Solution to the Decentralized Governance Problem - Governance Discussions - Algorand
Choice Coin: A Solution to the Decentralized Governance Problem
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11.8k views 86 likes 50+ links 12 users
56](https://forum.algorand.co/u/bhaney44 "bhaney44")
5](https://forum.algorand.co/u/scholtz "scholtz")
2](https://forum.algorand.co/u/Futurecurrency "Futurecurrency")
2](https://forum.algorand.co/u/Astylz "Astylz")
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Nov 2021
post by bhaney44 on Aug 26, 2021
Choice Coin is an open source digital asset, which is used to solve the decentralized governance problem. The decentralized governance problem refers to the complex process by which assets are allocated across decentralized networks. In other words, the decentralized governance problem refers to the lack of a system to facilitate autonomous decision making in a distributed manner using digital assets. Choice Coin solves the decentralized governance problem by providing a mechanism for secure voting using post-quantum cryptography. A voting token for autonomous organizations, Choice Coin is built on the Algorand blockchain as an Algorand Standard Asset.
The goal for the Choice Coin Community is to support the Algorand Community in growing an open, collaborative, and borderless blockchain. Thus, the Choice Coin Network is intrinsically designed to draw new members and retain existing members on the Algorand Network through an optimized participation structure. There are three main methods for participation in the Choice Coin ecosystem. The three main participation options are democratic involvement incentives, charitable contributions, and open innovation. Additionally, Choice Coin’s inclusive strategy may be amended to include more participation options over time and is focused toward creating new value on the Algorand Network.
To learn more about Choice Coin, kindly visit the links below!
Choice Coin GitHub ( LINK)
Choice Coin Website ( LINK)
Choice Coin White Paper ( LINK)
Choice Coin Community Participation ( LINK)
Choice Coin AlgoExplorer ( LINK)
11.8k views 86 likes 50+ links 12 users
56](https://forum.algorand.co/u/bhaney44 "bhaney44")
5](https://forum.algorand.co/u/scholtz "scholtz")
2](https://forum.algorand.co/u/Futurecurrency "Futurecurrency")
2](https://forum.algorand.co/u/Astylz "Astylz")
2](https://forum.algorand.co/u/Celestino_127 "Celestino_127")
read 9 min
Top replies
post by Futurecurrency on Aug 28, 2021
Is this authorised my algorand team ?
post by bhaney44 on Aug 28, 2021
What do you mean? Generally, in an open blockchain network, like Algorand, authorizations are not required because code essentially operates as law. In this instance, we created an ASA on the Algorand Network.
post by Futurecurrency on Aug 30, 2021
1 algo 1 vote isn’t right
post by bhaney44 on Aug 30, 2021
Thanks for the feedback. So, we are not using a 1 Algo = 1 vote mechanism. To be clear, we created a new ASA, Choice Coin, to facilitate voting on the Algorand Network. We also just released a new paper on decentralized decision making using Choice Coin on Algorand. Feel free to read the paper and provide feedback, using this LINK. If you do, optin to recieve Choice Coin, post your public address along with the feedback, and I will send you some Choice Coin. Thanks again!
post by scholtz on Sep 1, 2021
1
I do not understand your choice coin…
You sell the choice coin so that some people can ask a question an that person will get the choice coin depending the address of the option? Does not that mean that the people are buying the the choice? Like if you make the proposal on who gets the money the one that pays the most gets it?
Can you please take a look at my recent video and give me the feedback? Public voting using algorand network - YouTube
My proposal for decentralized voting system does not require additional asa, even though it can be basically used under any asa.
My solution solves
- The non interaction issue (when someone does not want to interact he set his vote power redirect - delegation)
- The multidelegation of your trust - you can trust several people with different weights
- The wisdom aggregation - You can delegate your vote power in specific category … eg you know the good IT guy, so you give him your trust in the IT
- Minimize the costs for the decision - you do not have to vote on every decision, you can make chain of your accounts so that with the 1 coin 1 vote you have to vote only once
- Solves the issue 1 coin 1 vote vs 1 person 1 vote - does not interpret the data, just creates the solution how to calculate the result
- Everything is public, auditable, decentralized…
- Not limited to one application - everyone can make simple note in any wallet, even multisig … anybody can read data from the blockchain using other applications and audit it
I think it would be much better to cooperate, and you can write for example accademic paper on my implemented solution with comparision with other solutions where you compare eg how much does it cost to run in one year, how fast the decisions can be done and so on…
post by bhaney44 on Sep 1, 2021
Feedback on your video
I think the UI looks great, but it is a little complex - meaning there is too much data on the front end for everyday users. There is a heavy focus on delegation, I’m not sure that is necessary. Your idea to have a trusted account voting protocol is innovative, but it essentially acts as a validity mechanism which could be validated by an administrator in any number of ways. I like the idea of being able to ask questions directly. Overall, great demo - thanks for putting that together, it helps to see something visually and you were clear in your explanations and communication.
Your solution and Choice Coin
First, it seems like your voting system is a specific solution - to governance on Algorand. Our solution with Choice Coin is generalizable, meaning it is meant to facilitate voting across industry for various applications.
Second, you mentioned your system does not require an additional ASA. The Fortior Voting Protocol also does not require an additional ASA. However, having an additional ASA is a benefit rather than an impediment, particuarly from a business perspective. If you look at the main financial difference between Ethereum and Algorand, Ethereum has many ERC-20 tokens with real value built on the Network - for example, Uniswap, ChainLink, and GitCoin. Our goal for Choice Coin is to be a similarly supporting asset for the Algorand Network. Having a liquidity mechanism available for ASAs on Algorand would increase the value of the Network 10x with the opportunity to scale much higher. So, the new ASA is vital to the application because it is a way to capture real value for the Network as a whole.
Third, the ASA, Choice Coin, also allows for symbiotic votes for specific purposes, such as political elections or corporate voting. You can sell a token silo to an organization and then create a new token specifically for their voting needs, such as Congressional Election 2024 Token.
Collaboration
We would appreciate the opportunity to collaborate with you. In fact, we recently launched our Open Source Development Program, which will allow developers to be rewarded for their contributions to the Choice Coin Github. If you make a pull request with your OSS on our voting repo, we will compensate you with 25,000.00 Choice pursuant to the program terms and conditions, which are available on our website.
P.S.
I tried to donate some Choice to the QR Code on your video, but you haven’t opted in yet. If you opt-in, I will send you some!
post by scholtz on Sep 1, 2021
Actually i did not do it for the algorand governance … I think that it is not possible to change what they are preparing (i have no idea how they will technically do it)
I made it to be absolutely generic, so if anyone who has any token he can make the voting system with all these features… The delegation is tecnically not required… It is the feature.
I believe in knowledge based pure democracy… My solution is the implementation for that.
I can update the app that it works on any (selected) assets… This way the voting can work on the Choice coin also…
Do you have any technical specification for your voting?
Like the voting is placed to the blockchain with note
avote-question/v1:j{"t":"Hello world","q":"How do you like this voting system?","max":16024568,"category":"community","o":{"1":"I love it","2":"I like it","3":"I dont like it","4":"I dont want decentralized voting"}}
The answer is placed to the blockchain with note
avote-vote/v1/QKMLMEWCNL:j{"q":"QKMLMEWCNLDG5IB5JHMQQXJX6YYND66ALXTJIOXMVMQT3OYTKQ6A","a":{"1":100,"2":10,"3":0,"4":0}}
some json schema, or anything?
If you have not yet done anything with this perhaps you can addopt my proposal… If you have decided on how it will work, can you please describe it in some simple manner? Also if you could pinpoint some differences it would be great.
To use the custom ASA, for example for the election you have mentioned the main issue is the distribution between users.
post by bhaney44 on Sep 2, 2021
This is helpful, thank you! You can check out our voting paper using this ( LINK). You can view the code in our voting repo using this ( LINK). Thanks for opting in - I sent you some Choice! To learn how to get more, check out our participation programs ( LINK). I hope you will complete a pull request in the voting repo, your work would be a great addition and we would appreciate the opportunity to develop future collaborations. If you have specific questions about details, feel free to send me a direct message. Thanks!
post by scholtz on Sep 4, 2021
Your system fails at several points…
The decision is made on how many coins have you bought? The wise decisions are not those with money but those who knows what is the best…
It seems you can do only one decision at the time.
The voting system should not do interpretation of the vote… Who knows if the intended questioner wants to do poll of eg any results that gets over 20% of votes are accepted, or first 3 options from 10 are the best. The voting system must just count the votes, not interpret the data.
I am missing there the delegation of knowledge.
You write nice academic papers, but I doubt this can be used in reality… Can you please take a look at my implementation? The video should cover it in quite depth, and btw it is already on the mainnet…
post by bhaney44 on Sep 4, 2021
These are not failures or faults in the system. It is generalizable and flexible by design. If you have suggestions for improvement, fork the code on GitHub and then do a pull request. Follow the rules in our participation program and you will be appropriately rewarded.
I think one thing you need to keep in mind is that demand drives the market. It doesn’t always matter what you the innovator wants, we have a customer centric focus. So, we are willing to adapt our models to meet customer need. At the same time, we are innovating through our open development strategy, of which we invite you to be a part.
post by Maugli on Sep 4, 2021
Nice try.
we are willing to adapt our models to meet customer need
It's getting better... all the time
we are innovating through our open development strategy, of which we invite you to be a part
like Mozart and Salieri in Peter Sellers play. You can bet, who is Salieri here.......
12 days later
post by bhaney44 on Sep 17, 2021
Update
Choice Coin is now verified on the AlgoExplorer. ( LINK)
20 days later
post by bhaney44 on Oct 7, 2021
Update
Choice Coin is now on TinyMan!
post by Celestino_127 on Oct 13, 2021
Really love the project! @bhaney44, especially the participation program is a really smart way to bring value into the project without ruining the value proposition of CHOICECOIN, already learning a lot!
post by Celestino_127 on Oct 13, 2021
scholtz](https://forum.algorand.co/t/choice-coin-a-solution-to-the-decentralized-governance-problem/4100/21 "Load parent post")
I think Choicecoin acts as a crypto primitive for decentralized voting, it does need a separate ASA in order to allocate capital towards solving this specific problem. It won’t be able to solve this problem without having a specific ASA, and that’s why ASAs were invented by the Algorand Network and Team
1 month later
post by bhaney44 on Nov 16, 2021
Update
Choice Coin is now the largest open source project on Algorand with over 11,400 users. Check out our GitHub to get started building the best voting software. To get Choice, check out TinyMan, which is a liquidity pool software for ASAs.
YouTube Interviews:
8 days later
post by bhaney44 on Nov 24, 2021
Update
We are elated to announce we have received a grant from the Algorand Foundation to continue our work on Choice Coin and Decentralized Decisions. ( Press Release)
post by Astylz on Nov 25, 2021
Good job bhany, Greenrex its Astylz
You are doing a good job
Keep it up
post by Chucho on Nov 25, 2021
Choice Coin is a governance token and open source software for decentralized voting. The Choice Coin Network is prioritizing democracy, and will incentivize its participants to help it fundamentally change how decisions are made on a large scale. Choice Coin solves the decentralized voting problem by introducing a digital asset for voting on a distributed ledger.
Choice Coin is also entirely open source, with no formal strucutre or entity attached to it. Since its inception, Choice Coin has attracted a plethora of contributors from all over the world.
Choice Coin has been inspiring to alot. With a very decentralized community choice aims at making voting processes fair and void of malpractice. Everyone can access voting no matter where you are as long as you know about blockchain which alot had been in place to teach people alot about the Algorand chain
post by Dozyay on Nov 25, 2021
Choice Coin is an open-source project built on the Algorand Blockchain as an ASA. Built with the community’s support, Choice Coin represents the next level in capturing Algorand’s technical edge. A token built for democracy, Choice Coin powers voting algorithms that hope to fundamentally change how large-scale decisions are made
Choice coin has a real life use case and is not just a coin but a way of life. Decentralised decisions have been an issue in the blockchain world and Choice coin seeks to make this a thing of the past.
It will be used in every sphere of life and that’s what makes this coin so special. The value which it seeks to create is something that will be used in years and years to come.
With an ever growing active community, the owners Brian Haney and Archie Chadhaury have built a project which everyone is a part of and that’s the very essence of what Choice is all about.
post by Astylz on Nov 25, 2021
Choice coin Voting powers democratic crypto atmosphere, based. on the algorand blockchain which gives users more power and freedom to impact on the project.
Choice coin is a very nice and promising Project thats ITS THE FUTURE
Choice voting software is centered around concentrated Decisions, an open-source voting software that allows organizations to make decisions in a distributed manner through democratic way (voting)
This documentation introduces new and many people to Choice Coin, even as additionally presenting records at the centered Decisions.
10 days later
post by bhaney44 on Dec 5, 2021
Update
We are excited to announce we have allocated 6,000,000.00 Choice for grants to specifically encourage new female developers to build on Algorand. ( Program Details)
post by scholtz on Dec 6, 2021
Women can also checkout the Vote Coin engagement programs: Engagement Programs - VoteCoin
10 days later
post by bhaney44 on Dec 16, 2021
Update
Really excited about the success of our female developer program. Since launching the program about a week ago, we’ve given out 1.4 million $Choice (70,000 USDC) in OSS developer grants to female software engineers!
post by bhaney44 on Dec 16, 2021
Update
New FAQ for Choice Coin, by The Archie Chaudhury.
New blog on Decentralizing Choice via Yieldly.
14 days later
post by bhaney44 on Dec 30, 2021
Update
Choice Coin’s first vote, Vote 0 was a great success. The results favored releasing 75 million Choice per year from the reserve address. Rewards will be distributed shortly, along with a more detailed plan for 2022 allocations.
23 days later
post by bhaney44 on Jan 23, 2022
Update
New interview with updates about Choice on YouTube. Next up, Vote 1.
post by javier0rosas on Jan 23, 2022
Question: does the Choice Coin protocol use quadratic voting or linear 1:1 voting?
post by bhaney44 on Jan 23, 2022
Decentralized Decisions is Choice Coin’s heterogeneous voting protocol, so it can be adapted to any type of voting. For purposes of voting within the Choice Coin DAO, Choice Coin uses a 1 Choice = 1 vote protocol.
post by scholtz on Jan 24, 2022
Vote coin allows quadratic voting as well linear voting result calculations - Vote result calculation - VoteCoin
post by bhaney44 on Jan 26, 2022
Update
25 days later
post by bhaney44 on Feb 21, 2022
Update
Choice Coin is now on CoinGecko and CoinMarketCap.
post by bhaney44 on Feb 21, 2022
Update
11 days later
post by bhaney44 on Mar 4, 2022
Update
New Choice Coin page on the Algorand ecosystem website.
9 days later
post by bhaney44 on Mar 14, 2022
Update
Information on Choice Coin DAO Vote 2. Voting occurs globally on the Decentralized Decisions dApp.
16 days later
post by bhaney44 on Mar 30, 2022
The Choice Coin governance platform is open for business. Choice Coin will be hosting the first AlgoCharts DAO vote on Monday, April 11th. The vote will decide whether AlgoCharts remains open source on GitHub or will be reserved as proprietary. Read more in our latest Blog.
post by MELODY on Mar 30, 2022
This is impressive
Choice coin is the best choice I made
12 days later
post by bhaney44 on Apr 12, 2022
Update
AlgoCharts governance is live until 4/13/22 at 4:00PM EST. Don’t forget to vote!
post by bhaney44 on Apr 13, 2022
2
Update
AlgoCharts Vote 1 has concluded and will remain open source on GitHub.
post by bhaney44 on Apr 18, 2022
Update
Choice Coin Vote 3 is underway. Vote on whether Choice Coin should build an Algorand converter for Ethereum or Solana using Decentralized Decisions.
29 days later
post by bhaney44 on May 18, 2022
Update
9 days later
post by bhaney44 on May 27, 2022
Update
Choice Coin is making strides in blockchain interoperability. Choice is now verified on Etherscan as an ERC20 token and we won a grant from the Solana Foundation to build on our compliance software infrastructure.
10 days later
post by bhaney44 on Jun 7, 2022
Update
Choice Coin DAO Vote 5 will be on whether to burn the Choice Coin reserve address. ( Blog)
8 days later
post by bhaney44 on Jun 15, 2022
Update
The Choice Coin reserve has been burned. The total Choice burned on Algorand is now 717,000,600.27 Choice, which is approximately 71.70% of the total supply.
28 days later
post by bhaney44 on Jul 14, 2022
Update
Choice Coin v2 is now live on MainNet. The software is open source on GitHub.
post by bhaney44 on Jul 20, 2022
Update
Twitter Update: Choice Coin DAO is rebranding to Choice Coin DAN - decentralized autonomous network.
3 months later
post by bhaney44 on Oct 10, 2022
1
Update
Recent research paper, Statistical Securities Compliance has been accepted for publication with the University of Florida Law School.
The Choice Coin ASA burn total is now up over 734M Choice (~73.4%).
Choice Coin is continuing to run votes with our Decentralized Decisions voting application.
post by bhaney44 on Oct 17, 2022
Update
post by bhaney44 on Oct 22, 2022
Update
Big vote up for Choice Coin governance.
post by bhaney44 on Oct 25, 2022
Update
Choice Coin Update October 26. First election is wild and wonderful, plus celebrity boxing.
21 days later
post by bhaney44 on Nov 16, 2022
Update
New blog conveying the focus for Choice Coin growth moving forward through the year 2023.
18 days later
post by bhaney44 on Dec 5, 2022
Update
New Choice reward pools on Cometa.
Vote on Choice Coin governance with Decentralized Decisions.
Vote on World Cup outcomes with Choice Coin Cup.
post by bhaney44 on Dec 8, 2022
Update
Choice Coin Transparency Report December 2022.
20 days later
post by bhaney44 on Dec 29, 2022
Heading link Update
Choice Coin DAN has burned over 75% of the total ASA Choice supply.
Choice Burn Address
6G5V4U2MCW5TIZ7JP6BZFQELTGGJBEG5EVSQRQQRLEZM3V6DXOPV5TUJQA
28 days later
post by bhaney44 on Jan 27, 2023
Update
New commodities section on the Choice Coin Compliance GitHub.
post by bhaney44 on Feb 2, 2023
Update
Testing some trial gaming software for research. Vote on outcomes to inform oracle predictions for Super Bowl LVII with Choice Coin.
post by bhaney44 on Feb 6, 2023
Update
Automating securities compliance with chatGPT.
1 month later
post by bhaney44 on Mar 10, 2023
Update
post by bhaney44 on Mar 13, 2023
Update
New Patent Application Publication
DECENTRALIZED VOTING USING QUANTUM INTELLIGENCE
United States Patent Application 20230065435
post by bhaney44 on Mar 18, 2023
Update
The Choice Coin voting application is now live with DeFly connect.
Vote on whether to make DeFly the official Choice Coin wallet now.
2 months later
post by bhaney44 on May 9, 2023
Two Updates.
- Market Cap on Vestige has been updated to reflect burns. We’re working hard to burn as much Choice as we can and have now burned over 75.00% of the supply.
- There is a new test application up for betting on the NBA Finals. Pick the right team and win Choice!
1 month later
post by bhaney44 on Jun 21, 2023
Update
Choice Coin xGov Grant Application
21 days later
post by bhaney44 on Jul 12, 2023
Update
New vote on protocol development, Choice Coin voting application.
post by bhaney44 on Jul 19, 2023
Update
New Patent Application, Voting using choice coin on a blockchain.
27 days later
post by bhaney44 on Aug 15, 2023
Update
New website. Desktop live. Mobile coming soon.
21 days later
post by bhaney44 on Sep 6, 2023
Update
Choice Coin DAN is now verified on Twitter.
11 days later
post by bhaney44 on Sep 17, 2023
Update
New paper on the topic of defining, smart contracts. Authored for the purpose of bringing clarity to the definition of smart contract.
4 months later
post by bhaney44 on Jan 16, 2024
Update
Voting is live for Choice Coin governance, dApp.
1 month later
post by bhaney44 on Feb 18, 2024
Update
New Choice Coin pool on Cometa. Choice Coin will move forward this year focusing on new ways to innovate in decentralized governance. Moreover, Choice Coin will explore new opportunities in decentralized technologies, such as GambleFi. Thank you to everyone who continues to support the project. Let’s build something great.
post by bhaney44 on Feb 24, 2024
Three Reasons to Get Involved with Choice Coin on Algorand.
- We have burned over 75.00% of the total supply of Choice. Burn Address.
- We have a real use case, working application, and open source code that has been security audited. Security Audit.
- We’re here to build something great. Choice Coin DAN.
post by GhostOfMcAfee on Feb 25, 2024
That’s funny. Isn’t this the same project that tweeted out such bangers as:
- “We’re focusing on Ethereum moving forward. Choicecoin will be an ETH project first and foremost.”
- “ETH is LITERALLY better than ALGO”
- “Is Algorand going to fail completely?”
- “Ethereum is winning”
- “NFDomains = cringe”
- “Silvio Micali is doing a lot of dumping too”
- “If you bag Algo you will probably end up homeless”
- “Silvio Micali created a language called TEAL that has been hacked many times because it lacks foundational logic.”
- “If you have a .algo tag, you are the ill-informed.”
post by bhaney44 on Mar 2, 2024
Update
Vote with your Choice on our application, Decentralized Decisions. Voting is live.
post by expertgovernor on Mar 7, 2024
i use AF forum as my shopping list too… is there a conversation going on here or am i just seeing things?
Closed on Mar 12, 2024
Closed on Mar 12, 2024
Archived on Mar 12, 2024
Archived on Mar 12, 2024
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