Democracy in blockchain development

What is a Governance?

Proof of Stake governance is a decentralized voting system for allocating a portion of the block generation rewards to certain proposals. Some cryptocurrencies opt for private foundations to steer the direction of the project and which features/functions to invest in. With Proof of Stake each masternode owner has a vote for every masternode that they have active on the blockchain, with voting cycles occurring monthly. Each owner has the ability to submit their own proposals for consideration as well, which allows for even more involvement concerning your investment.

Where are the proposals located?

The proposals once approved will appear on Proposals can be viewed as they are being drafted, commented on beforehand, and then finalized through the issues tab on the Rupaya Github.

How can I vote?

Once a proposal is approved and marked FINAL then it will be submitted to the blockchain for voting. Voting is incredibly simple and can be done from your cold wallet where you collect your masternode rewards, or from the masternode VPS command line. The added benefit of voting from your cold wallet is that if you have multiple masternodes, then you are able to vote for on behalf of all of them at once.

Start by navigating to the Rupaya Proposals page. From there click the Vote Now button next to the proposal that you have reviewed and are prepared to vote for. Simply highlight or click the copy to clipboard icon for the proper vote (yes or no). Open the debug console on your cold wallet or the command line of your VPS and paste the command. For example lets look at the proposal for expanding the capability of our block explorer charts. To vote for this proposal you would copy the proper code depending if you are voting from your cold or hot wallet.

To vote Yes or No on this proposal from a local (Cold) Qt wallet with all your MasterNodes at once, run this command from the Debug console: mnbudgetvote many "e066b5cbf332b68edf3142dc564b2ad121eefff97dc2ceee7c5f8437ee9b8c5d" yes mnbudgetvote many "e066b5cbf332b68edf3142dc564b2ad121eefff97dc2ceee7c5f8437ee9b8c5d" no Alternatively, you can vote from the MasterNode CLI. If your MasterNode is using the GUI based Qt wallet, you don't need `rupaya-cli` in the command: rupaya-cli mnbudgetvote local "e066b5cbf332b68edf3142dc564b2ad121eefff97dc2ceee7c5f8437ee9b8c5d" yes rupaya-cli mnbudgetvote local "e066b5cbf332b68edf3142dc564b2ad121eefff97dc2ceee7c5f8437ee9b8c5d" no

You should see the following output result in either console method you use:

{ "overall" : "Voted successfully 1 time(s) and failed 0 time(s).", "detail" : [ { "node" : "MN1", "result" : "success", "error" : "" }, ] }

Frequently Asked Questions

How many times can I vote?

As many times as you want, but only the latest vote from each masternode is used. So you could change your mind and switch all of your votes last minute if you so choose. Each masternode equals one vote, but you can update your vote up and until the voting period ends.

I just launched my new masternode, can I vote?

Yes! Once your masternode is successfully activated you immediately have rights to vote on the current proposals. You could do this individually from your new masternodes CLI, or just use the many vote command from your cold wallet to update and include your latest masternode.

Coming Soon...