๐Ÿ—ณ๏ธHybrid Voting

On-chain voting with off-chain implementation is designed to strike a balance between speed and cost. This is what we call a hybrid voting mechanism.

NEO DAO offers hybrid voting to save a significant amount of gas due to its hybrid nature.

The off-chain NEO DAO voting is represented in the diagram.

On-chain voting means that every action, vote creation, voting of all members, execution, in NEO DAO will be immediately recorded on the blockchain.

Let's say we have two members in NEO DAO. An average non-urgent transaction takes about 3 minutes. Therefore, we need 3 minutes to create a vote + 3 minutes to record a signature from the first member + 3 minutes to record a signature from the second member + 3 minutes to record a final decision on the blockchain. In total, this vote will take 12-15 minutes.

Now let's imagine we have not 2 but 200 members. It would take about 10 hours assuming all participants vote instantly. And if we wanted to speed up this vote by increasing the gas fee, the vote would become very expensive.

The off-chain method will speed up a vote to 3 minutes in total (0 minutes to create a vote, 0 minutes to record a signature from the first member, 0 minutes to record a signature from the second member, and 3 minutes to record a final on-chain decision).

If all voters promptly vote, it will only take 3 minutes if there are 200 members. The HYBRID voting mechanism for NEO DAO maintains a compromise between transparency and fast and cost-effective voting.

DISCLAIMER: The figures and information provided are approximate and for informational purposes only. They do not constitute a guarantee of income. Please note that all investments involve risk and past performance is not indicative of future results. Investing in NEO DAO or any other investment opportunity carries risk, and prospective investors should conduct their own research and seek advice from a financial advisor before making any investment decisions.

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