According to Cardano Improvement proposal 15 CIP15, Catalyst voting happens on a side chain and one needs to "register" to participate on this side chain by submitting a registration transaction on the mainnet chain. The registration metadata contains following
- "voting key" to be included in the side chain.
- Associates mainnet ADA to this voting key
- Declare an address to receive Catalyst rewards
Out of these three parameters, the staking mechanism provides two parameters for every wallet staked. The amount of staked ADA and reward receiving address.
If the voting key is also made part while wallet is staked, then there is no requirement for a separate "Registration for Voting" process.
What is wrong with this approach, why is a separate registration process being followed?