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RE: Updated Witness Application

in #witness6 years ago

Hey! Appreciate the support! Feel free to ping me on telegram, I'm any_x there.

Regarding votes vs voters, what you're looking at is the difference between stake weighted votes, i.e. the number of steem tokens voting for you, versus account votes, the number of accounts voting for you.
The reason accounts is not often used as an important metric is because they are too easy to create, so anyone can spoof that number to be high.

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Thank you for this amazing explanation @anyx

Appreciate. I added you already on telegram.

Would you also mind telling me what are benefits of being top20 or top50 on list of witnesses? Hope you don't mind sharing your knowledge.

Yours
Piotr

Being a top witness (in the top 20) means two things: greater pay of steem for being a witness, and more importantly, the responsibility of being part of the "consensus set" of the Steem blockchain. What this means is that you are responsible for ensuring validity and correctness of the blockchain.
While the responsibility is mostly automated, its important to not let these positions become corrupted or vulnerable, as they are like a form of governance.

Positions underneath don't have the same responsibility, but might become elected by getting voted in, so they should prepare for it. Positions under 20 are paid far less steem.