Algorand Foundation Latest Grant Recipient Vote Coin

Published on: 14.06.2022

Algorand Foundation is building trusted infrastructure for the borderless economy thrilled to announce Vote Coin as its latest Grant recipient.

Algorand Foundation is delighted to announce Vote Coin as its latest Grant Recipient.

To begin with, Vote Coin helps DAOs manage decision-making by providing a secure, auditable, and efficient on-chain voting system. The platform’s vision is to provide an easy on-chain decision-making solution.

Moreover, Vote Coin was an Encode Algorand hackathon winner and a participant in the Encode Algorand Accelerator program.

Hence, this latest grant recipient of the Algorand Foundation supports Vote Coin in further developing encrypted voting.

Furthermore, Vote Coin encrypted voting allows DAO members to vote in the voting session without information on how other members vote. Hence, the secrecy of the vote is essential in all democratic countries. When the vote is fully open, it may encourage other members who disagree with the decision for action, and the result may change.

With encrypted voting, the weight of the vote is the same time during the whole duration of the voting session. After the voting session and the encryption key are published, everybody can audit the results by decrypting all the votes from the Algorand blockchain.

Ludovit Scholtz, Vote Coin Founder

“Vote Coin is approaching a Series A funding round. Our plans are to provide the voting solution not only for DAOs, but also for governments, corporations, and personal use. Everyone who might need a secure, auditable, and fair decision-making solution should try it.”

Alan O’Connor, Grants Program Project Manager

“We are delighted to support Vote Coin through our grants program. Vote Coin is unique in this space, offering DAOs an encrypted decentralized voting standard that allows both quadratic and linear voting results computation. DAOs can take advantage by allowing votes to change after being cast. Organizations to manage their voting list on-chain and enable delegation of the voting power. We believe that using DAO governance and voting systems helps enhance efficiency and encourages more decentralization in community management.”

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem.

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