Voting is a very important part of any democracy because it enables citizens to participate in the democratic governance process. In a democracy, the goal of the vote is not only to create a government, but to make a collective effort that leads the interests of society and the economy.
The main purpose of voting around the world is to make sure that it is fair and transparent. The traditional voting system has been around for years, but it’s safe to say now that it’s past its time. Problems like double voting, wrong voting, and privacy considerations repeatedly appear in the news, indicating the inefficiency of the current system.
Additionally, organizing voting on a large scale is time consuming and costly. For example, India spent about $ 8 billion on the 2019 national elections, and it took about 40 days to complete the entire voting process.
Thus, we can confidently say that the traditional sound system has the drawbacks not only in terms of safety and the time it takes to do so, but also in terms of the cost of organizing the entire process in an impeccable way.
Voice of the Internet – the solution?
Can we then say that online voting is the solution to all the problems that the current traditional voting system faces? Internet pilot projects have been implemented all over the world, but were discontinued after a while.
Economic challenges such as Internet access, training, and adaptation to the population’s new voting style can still be overcome through development and training.
But the risks associated with security (computer virus / hacking) and scalability mechanisms limit the pilot. Moreover, online voting basically cannot guarantee one vote per person and the high cost of its implementation affects the implementation.
Does the lock support the solution?
The technical implementation of blockchain voting is definitely a good alternative, as the decentralized consensus protocol provides security up to a certain point, and is more secure than the current centralized voting method.
But then it leads to certain problems, such as:
Scalability: The blockchain does not scale today.
On the Ethereum blockchain, only 15 transactions can be verified per second. This means that as the number of voters increases, it takes longer to vote on the blockchain to complete the voting process.
For example, when the second largest country in the world, Tuvalu, which has a population of 10,600, plans to choose it on the Ethereum blockchain, for example, it will take about 11.5 minutes (10600/15 = 706 seconds) in total the voting will be completed, but Given a country like India of 1.4 billion, it could easily take around three years before the entire voting process on the Ethereum blockchain is complete.
It is almost impossible to explain such a time frame in a large democracy.
Energy consumption: Blockchain consumes far more energy than any existing system.
For example, the Ethereum blockchain uses 1.02 kilowatt hours per transaction. In a country like Tulavu, blockchain voting power consumption is 10.8MWh, which wouldn’t have a major negative impact on the environment. But on the other hand, for a densely populated country like India, a vote on the blockchain, if implemented with Ethereum, would ultimately require 1,428 gigawatt hours.
Not only does it increase energy costs, but it will also have negative (if not harmful) environmental impacts.
Security: While the blockchain is secure, it is affected 51%, with malicious nodes occupying 51% or more of the network. Since voting is something that can change the state of the economy, the likelihood of hacking / fraud is very high.
Identity: The existing blockchain cannot fully guarantee a decentralized identity.
How should blockchain protocols be scalable, secure, and less energy intensive?
For scalability. Instead of all nodes validating all transactions, only a subset of randomly selected nodes can validate the transaction. Thus, the entire network can confirm more than a million transactions in a consistent manner.
This is shown below using a super geometric distribution.
On the network, only 200 randomly selected nodes are needed to validate a transaction with 99.999999999% confidence.
Energy consumption. Bitcoin’s developed proof of work algorithm (called HashRate PoW) needs to be replaced by PoW, which uses less power because it only requires 200 nodes to validate a transaction. It should ideally rank energy consumption 3.6 billion times less than Bitcoin.