Quadratic voting is a collective decision-making procedure which involves individuals allocating votes to express the degree of their preferences, rather than just the direction of their preferences. By doing so, quadratic voting seeks to address issues of the Condorcet paradox and majority rule. Quadratic voting works by allowing users to "pay" for additional votes on a given matter to express their support for given issues more strongly, resulting in voting outcomes that are aligned with the highest willingness to pay outcome, rather than just the outcome preferred by the majority regardless of the intensity of individual preferences. The payment for votes may be through either artificial or real currencies. Quadratic voting is a variant of cumulative voting. It differs from cumulative voting by altering "the cost" and "the vote" relation from linear to quadratic.
Inside the Colorado State Capitol Building, where the quadratic voting process took place
Cumulative voting is a multiple-winner method intended to promote more proportional representation than winner-take-all elections such as block voting or first past the post. Cumulative voting is used frequently in corporate governance, where it is mandated by some (7) U.S. states.
Sticker dot voting