What is Quorum?
A quorum is the minimum number of members required to be present at a meeting or assembly in order for official business to be conducted. The number of members needed to form a quorum is typically defined by the rules or bylaws of the organization holding the meeting.
In many cases, a quorum is required for decisions to be made or votes to be taken. Without a quorum, a meeting may not be able to proceed or any actions taken may be considered invalid.
For example, if the bylaws of a club state that a quorum is a majority of its members, then at least half of the members would need to be present at a meeting for any official business to take place.
The Qubic Quorum
In Qubic the Quorum is more than just a simple majority — it's a dynamic assembly of 451 Computors Votes. Any decision that have to be made by the Quorum means that you need at least 451 Votes from Computors. This assembly of Computors is at the heart of decision-making processes within the Qubic system.
The Computors form a democratic ecosystem, with each having an equal vote. The aim is to decentralize power and promote a healthy competition for the system's best interests. This unique form of Governance separates the roles of Computors and Arbitrator, ensuring that no single entity can control both.
The Quorum in the Qubic system fulfills key functions:
- Forming and Creating Ticks (Blocks)
- Proposing, Voting for and Accepting Polls
These functions allow for a dynamic, community-oriented, and consensus-driven ecosystem that is key to the operations of the Qubic network.
Quorum Voting on Proposals
When it comes to voting, a decision is considered valid when it has received the approval of at least 451 Computors. The Proposal with the most votes wins, fostering a system of majority rule.
This requires a broad consensus and encourages active participation from Computors in order to make impactful decisions. In scenarios where there are two decision proposals, the winning option must secure at least 50% of the votes (or at least ⅓ of all Computors, if only ⅔ are participating). In scenarios where there are multiple options, the winning proposal is chosen by the most votes — still provided that at least 451 Computors have cast a vote.