Our group is looking for an existing blockchain to use for our new Dapp, a customizable front end with a suite of universal smart contracts - all for conducting secure elections.
Use of the Ethereum blockchain, directly anyway, is priced out of reach, because of exorbitant gas fees ($3,000 to register a voter?) and the transaction bottleneck. ETH 2.0 has aspirations to address these problems, but we have serious doubts.
So, we are interested in Polygon – for several reasons, quite a few, actually. You are better positioned to prevent a transaction bottleneck and keep fees low. You support Smart Contracts written using Remix (Solidity). There are already major adopters of Polygon for business applications. Polygon gives us the option to run a side blockchain.
And, your blockchain will allow us to use a unique funding mechanism for our customers - the entities conducting an election. This last advantage is not to be released in detail to the public, yet, but I am allowed to explain it to you privately. This funding mechanism requires that we run a Validator Node set. And, there’s the rub.
There are already six (6) Validators that are offline, who need to be replaced. Your stated process is to conduct an auction for each offline (or voluntarily unbounded) Validator. But, auctions are disabled, and there does not appear to be a finalized auction process. Presumably, all are busy on Polygon 2.0, so we question whether an auction process will be available until an undetermined time after 2.0 is deployed. We considered acquiring an existing Validator, such as METAops or Sapien, but such a process is problematic - using someone else’s owner ID and signer ID, assuming we can confidently determine the rightful owners.
We would appreciate your advice on how we proceed.
On a side note, we see that only 16% of the Validators perform the ETH checkpoints. The lion share is by Binance (44%), who spent $709,969.45(USD) in ETH gas fees for the previous 30 days, out of the total $1,601,241.98(USD) spent on the ETH checkpoint gas fees. We can’t see how to determine what our share of that expense would be, as a Validator - is it done by the largest submitters of Polygon transactions? And, if you want to disconnect from ETH altogether, that’s ok with us.
We look forward to hearing from you.