RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)

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RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)

gillianpearce in #steem • 7 years ago

Thank you for the explanation @timcliff.

If a backup witness is voting in a way that the stakeholders like, and the top witnesses are voting in a way that the stakeholders don't like - then the backups may be voted in as the new top witnesses.

Whilst this is true in theory, from what I've read about the amount of power the top 20 witnesses have and how they vote for each other, it doesn't seem very likely that this could ever happen in practice, as things stand currently.

Until very recently I thought that witnesses got their spots in the table by number of votes. I didn't realise that power voting came into play.

Given that scenario it's hard to see how smaller stakeholders could really get themselves heard. 😊

7 years ago in #steem by gillianpearce

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timcliff 7 years ago (edited)

I've read about the amount of power the top 20 witnesses have and how they vote for each other, it doesn't seem very likely that this could ever happen in practice, as things stand currently.

Don’t believe the FUD. It is definitely possible for hard working witnesses to work their way to the top by adding value. I’m actually one example ;) as is @followbtcnews and @jesta.

Given that scenario it's hard to see how smaller stakeholders could really get themselves heard.

If you read the whitepaper, that is somewhat by design. It is not necessarily that they have no say, but the voice of the larger stakeholders is intended to have more weight.

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gillianpearce 7 years ago

Thanks again for the information @timcliff.

I was already voting for you before this conversation (I must have read something good about you somewhere 😂) but I appreciate your responding to my misgivings in a kind and thoughtful manner. It is not always the case! 😁

I haven't read the whitepaper to be honest but the post I read about the implications of the top 20 witnesses voting for each other was a statistical one by someone I trust.

However, if it is

definitely possible for hard working witnesses to work their way to the top by adding value.

that is indeed good news, especially as we have some new community focused witnesses such as @steemcommunity and @danielsaori joining the fray!

@followbtcnews and @jesta already have my vote too so I must have read good stuff about them as well! 😁

Since you made your post I notice we are now being paid in Steem again and now I know why! 😊

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