Question 1

How secure is Vote Coin for real governance decisions?

Accepted Answer

Vote Coin leverages Algorand's secure and immutable blockchain to ensure votes are tamper-proof and transparent. However, overall security depends on proper smart contract implementation and audits, which users should verify.

Question 2

What are the transaction costs for using Vote Coin on Algorand?

Accepted Answer

Costs depend on Algorand network fees, which are typically low but can vary with network congestion. Each vote requires a transaction, so budget accordingly for frequent voting events.

Question 3

How to set up Vote Coin for my Algorand-based DAO?

Accepted Answer

Start by testing with the Testnet application at demo.vote-coin.com to create proposals and votes. Then, deploy smart contracts on Mainnet using Algorand wallets and tools, ensuring compliance with the protocol.

Question 4

Can Vote Coin support private or anonymous voting?

Accepted Answer

Currently, Vote Coin focuses on transparent, on-chain voting, so all votes are publicly visible. For privacy features like anonymity, additional encryption or zero-knowledge proofs would need to be integrated separately.

Question 5

Vote Coin vs using Algorand Standard Assets for voting: which is better?

Accepted Answer

Vote Coin provides a dedicated, standardized protocol for voting with built-in governance features, while Algorand Standard Assets require custom logic and may be less optimized. Vote Coin is more specialized but less flexible for non-standard use cases.

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