As mentioned in previous news, a community vote will be held to determine the future of Stratis and its ambitions for StratisEVM. If you haven't already, read the latest blog postings about the StratisEVM initiative. The voting period for the StratisEVM initiative has officially begun; to learn more about the voting period and how to vote, continue reading below:
When Is The Voting Period?
- The voting period will last approximately 14 days.
- Votes will be accepted from block 1997000 (17th October 2023)
- The voting period will expire on block 2023880 (October 31, 2023).
How Can I Vote?
Stratis has chosen an on-chain, weighted voting technique to facilitate the vote. The voting mechanism keeps track of each voting wallet's balance and voting preferences (for or against suggested modifications). Every address with a balance of more than one STRAX Token receives a transaction. If your wallet is particularly busy, this could entail multiple transactions with a tiny cost.
When voting is finished, all blockchain addresses inside the voting period will be examined, and the balances of those voting for will be totaled together and compared to those voting against. Here's a simplified example:
- Token Holder A votes a 'For' vote with a STRAX balance of 1000
- Token Holder B votes 'Against' and has a STRAX Balance of 500
- Token Holder C does not vote and has a STRAX Balance of 2000
In the example above, the decision would be 'For'.
It should be noted that cash transferred from the wallet has no effect on the voting choice. Also, if you make many transactions, your addresses may change owing to the privacy features of our wallet software, which may result in your vote not being counted in the final decision.
Importantly, Masternode Operators can vote from their collateral address as long as they have more than 100,000.0001 STRAX in their account.
New Voting features in the current wallet version make voting easy:
Simply choose your voting choice, input your wallet password, and vote.
Where Can I Download The Wallet?
The wallet installers can be found above, or you can use the direct links to your operating system below:
How Can I See The Status Of The Vote?
Because Stratis has chosen an on-chain voting system, anybody may see the state of the vote, including the weight of each voting choice.
Details on how to run the utility may be found here:
The Token Swap and Seamless Transition
As previously announced, Stratis is conducting a token swap to ensure a smooth transition to StratisEVM. Existing STRAT tokens will be exchanged for StratisEVM tokens at a predetermined rate, allowing Stratis users to access the innovative features and capabilities of StratisEVM without interruption.
Implications for the Blockchain Ecosystem
The launch of StratisEVM and the accompanying governance vote have significant implications for the broader blockchain ecosystem:
- Interoperability: StratisEVM enhances the interoperability of blockchains by facilitating smooth communication between the Stratis and Ethereum networks.
- Accessibility: Developers familiar with Ethereum's ecosystem can effortlessly migrate their projects to Stratis, streamlining the development process.
- Scalability: StratisEVM benefits from Stratis' robust consensus mechanism, offering enhanced scalability and cost-efficiency for Ethereum-based applications.
- Community Engagement: The governance vote fosters a sense of community ownership, attracting new users and developers to the Stratis ecosystem.
- Innovation: The introduction of StratisEVM reflects the ongoing commitment of Stratis to drive innovation in the blockchain industry.
The commencement of the governance vote for StratisEVM signifies an exciting phase for Stratis and the broader blockchain community. This Ethereum-compatible blockchain promises to redefine how developers create and deploy DApps and smart contracts. By involving the community in the decision-making process, Stratis underscores its dedication to creating a more inclusive, connected, and innovative blockchain landscape. As the governance vote progresses, it is expected to chart the course for StratisEVM, heralding a new era of blockchain possibilities.