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Voting: Voters vote for their preferred candidate's name publicly listed in the Blockchain using the function "vote". Election result: Any vote before the start datetime and after end datetime will not be accepted by the Smart Contract. Any vote from an unauthorized Ethereum address will not be accepted by the Smart Contract. Only one vote from each authorized Ethereum address will be accepted by the Smart Contract.

Election result can be audited in real time in the Blockchain. Any vote to an unregistered candidate will not be valid. The whole process from the registrations to the voting and counting the results is open to audition by anyone. Contribution This basic schema can be implemented today with the existing infrastructure. This is in line with the current Bitcoin token inflation rate of approximately four percent.

In comparison, current proof-of-work ETH token inflation rate is a bit less than 13 percent per year. The vote is currently underway and being held on the CarbonVote platform, which allows Ethereum community members to cast a vote on matters regarding the Ethereum project using ether. Anyone holding ether in their wallet can partake in the vote by sending a 0-ETH transaction to one of the corresponding voting wallet addresses. Voters are only required to pay the gas fees of 0.

At the time of writing, the votes cast so far show a clear preference towards a reduction in ether mining rewards with only around 1. The majority of voters have voted for a new mining reward in the three to four ETH range per block mined.

Unlike Bitcoin, though, which functions as a digital transactional currency and a digital commodity, the Ethereum blockchain is a platform for smart contracts and decentralized apps DApps that enables developers to build a wide range of different commercial and non-commercial applications. For that reason, several industries have started to work on developing business solutions using the Ethereum blockchain, most notably the financial industry.

However, not everyone in the Ethereum community agreed to this hard fork, which resulted in the creation of Ethereum Classic as some miners decided to continue to mine the original Ethereum blockchain.

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