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RE: WITNESS ANNOUNCEMENT - New Witness on the block - Partnering with @davemccoy

in #witness-category • 7 years ago

Can you explain this part more?

so the task for witnesses is to fetch the STEEM market price to maintain this system peg.

7 years ago in #witness-category by
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         7 years ago 

        Did my second reply to wizardave make it more clear?

        The blockchain is not aware of market prices, so it is the role of witnesses to fetch this data and feed it into the system. And this is used to make SBD worth $1 USD. (which in real life is not true as SBD is currently worth $2.8 USD ;) )

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