As we move towards conducting the upcoming elections, it is crucial that we uphold the principles of transparency, security, and integrity. To achieve this, we propose a funding initiative to carry out comprehensive audits of three critical smart contracts:
- Voting, and the
- I-AM-HUMAN Registry.
These smart contracts are fundamental components of our electoral system, and ensuring their highest quality is paramount for the success of the NDC democratic process.
These three smart contracts play a pivotal role in modern elections, as they are responsible for automating various aspects of the electoral process. Through these contracts, we can minimize and reduce the likelihood of errors, and enhance the overall integrity of the election. However, like any piece of software, smart contracts are susceptible to vulnerabilities and bugs that could potentially compromise the election’s integrity.
The objective of auditing these smart contracts is three-fold:
- Security Assurance: Auditing helps identify and address potential security loopholes or vulnerabilities within the codebase. By thoroughly examining the code, we can mitigate the risk of cyber-attacks or unauthorized access that could manipulate or disrupt the election.
- Accuracy and Reliability: Auditing ensures that the smart contracts function precisely as intended and adhere to the predetermined logic. Verifying the accuracy and reliability of these contracts is vital to guaranteeing a fair and just electoral process.
- Compliance Adherence: Ensuring compliance is crucial for instilling confidence in the electoral system among both participants and the public.
The auditing process will require the expertise of external security experts, who possess a deep understanding of smart contract development and auditing practices. This expertise comes at a cost, and we propose allocating a budget of $29,870 for the comprehensive auditing of the three critical smart contracts. The costs for each smart contract is as follows
|Contract Name||USD Amount||NEAR Slippage 3%||USD Amount with Slippage||Auditor|
|Election||$8,700||$261||$8,961||Ottersec - Selected for Reputation, Cost, & Availability to Perform Audit|
The breakdown of the funding allocation is as follows:
- Security Audit in USD paid to Auditor: $29,000.
- Slippage as requested for payment in non-stable coins paid to Auditor: $870 - To accommodate the slippage of conversion from NEAR to stable.
Benefits and Implications:
By funding the auditing of these critical smart contracts, we will be investing in the foundation of our democratic process. The benefits of this initiative are far-reaching:
- Increased Trust and Confidence: A successful audit will demonstrate our commitment to transparency and security, fostering trust and confidence in our electoral system among stakeholders and the general public.
- Protection Against Manipulation: Identifying and fixing potential vulnerabilities will reduce the risk of election manipulation, ensuring that the election outcome truly reflects the will of the voters.
- Enhanced Reputation: A rigorously audited and secure electoral system will elevate our organization’s reputation and standing within the global community.
In conclusion, the auditing of the Election, Voting, and I-AM-HUMAN Registry smart contracts is essential to safeguard the highest quality of our elections. By providing the necessary funding for this initiative, we will be taking a significant step towards conducting transparent, secure, and credible elections. We urge the consideration for this proposal and take action in securing the integrity of our democratic process.