A Major Shift in On-Chain Voting

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.

Eli Ben-Sasson, CEO of StarkWare and a board member of the Starknet Foundation, discussed the impact of this change. “For DAOs and other entities using on-chain voting, eliminating gas fees will make a significant difference. This change addresses a real problem where high costs have discouraged people from voting,” Ben-Sasson noted.

How Snapshot X Operates

Snapshot X utilizes Starknet’s rollup technology and advanced storage proofs to enable gasless voting. The protocol allows users to verify ownership of assets on one blockchain without transferring those assets. This innovation means that users can participate in on-chain voting without incurring gas fees while keeping their assets secure on another blockchain.

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

The First Gasless Vote on Starknet

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. It will help ensure long-term sustainability and balance within the network. The voting will conclude on September 13, 2024, and will set important precedents for future governance on Starknet.

Impact on DAO Governance

The introduction of gasless voting represents 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, innovations like Snapshot X will play a key role in enhancing governance efficiency and inclusivity.

Recent Enhancements in Starknet

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

Ben-Sasson anticipates that parallel execution will become a standard practice within the industry. “This technology addresses the bottlenecks of sequential processing and improves transaction throughput, which is crucial for layer-2 networks on Ethereum,” he explained.

Looking Ahead: The Future of Blockchain Governance

The introduction of Snapshot X and parallel execution marks the beginning of a new era for blockchain technology and decentralized governance. These advancements are expected to enhance the functionality and efficiency of blockchain systems.

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

Conclusion

Starknet’s Snapshot X is setting a new standard for on-chain voting by removing gas fees and improving the efficiency and security of the process. As DAOs and blockchain communities adopt this technology, it is expected to transform how governance decisions are made. The combination of gasless voting and parallel execution underscores Starknet’s commitment to advancing blockchain technology and supporting decentralized governance.