A Major Shift in On-Chain Voting: Starknet Introduces Gasless Voting with Snapshot X

Previously, participating in DAOs required paying gas fees for voting, which could sometimes exceed ten dollars. These costs created barriers to participation and made on-chain voting less appealing. With Snapshot X, Starknet addresses these issues by making voting cost-free.

A Major Shift in On-Chain Voting: Starknet Introduces Snapshot X

In the realm of decentralized autonomous organizations (DAOs), on-chain voting has been a crucial aspect of governance. However, a significant barrier to participation has been the requirement to pay gas fees for each vote, which could sometimes exceed ten dollars. These costs have made on-chain voting less appealing and hindered the full participation of community members.

To address this challenge, Starknet has integrated Snapshot X into its ecosystem, enabling gasless voting for the first time. This innovation removes the financial hurdle that has limited participation in on-chain governance.

Snapshot X leverages Starknet’s rollup technology and advanced storage proofs to facilitate gasless voting. The protocol allows users to verify ownership of assets on one blockchain without transferring those assets. This capability enables users to participate in on-chain voting without incurring gas fees while keeping their assets securely on another blockchain.

Highlighting the protocol's modular design, Jeremy Musighi, Chief Operating Officer at Snapshot Labs, stated, “Snapshot X provides a customizable, trustless, and decentralized voting experience.” This design aims to streamline governance processes, making them more efficient and user-friendly.

Starting September 10, 2024, the Starknet community will be the first to utilize Snapshot X for a staking proposal vote. STRK token holders will decide on changes to the minting mechanism for Starknet staking through a custom interface built on Snapshot X.

This vote, coordinated by the Starknet Governance Hub, will address key aspects of token distribution and minting, helping ensure long-term sustainability and balance within the network. The voting will conclude on September 13, 2024, setting important precedents for future governance on Starknet.

The introduction of gasless voting through Snapshot X is a significant advancement in DAO governance. By removing the financial barriers associated with on-chain voting, Snapshot X aims to increase participation and improve the democratic process within these communities.

This development is part of a broader trend towards making blockchain technology more accessible and user-friendly. As DAOs continue to grow in size and importance, innovations like Snapshot X will play a key role in enhancing governance efficiency and inclusivity.

Recent Enhancements in Starknet

In addition to Snapshot X, Starknet has also made substantial progress with its technology. On August 28, 2024, the blockchain introduced version 0.13.2, featuring parallel execution. This capability allows for the simultaneous processing of multiple transactions, addressing the limitations of sequential transaction processing.

Anticipating that parallel execution will become a standard practice within the industry, Eli Ben-Sasson, CEO of StarkWare and a board member of the Starknet Foundation, highlighted its importance. “This technology addresses the bottlenecks of sequential processing and improves transaction throughput, which is crucial for layer-2 networks on Ethereum,” he noted.

Ben-Sasson further elaborated on the significance of this advancement for blockchain technology and decentralized governance. “The introduction of Snapshot X and parallel execution marks the beginning of a new era. These advancements are set to enhance the functionality and efficiency of blockchain systems,” he stated.

For DAOs and other blockchain communities, gasless voting represents a major step forward in making governance more accessible and participatory. As these innovations continue to evolve, they are expected to drive further improvements in decentralized governance.

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