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RE: Witness Update (22.7331) - Pick a great Steem Frontend - Please vote Community Witnesses - SteemWallet Apps back.
I used all available accounts to vote against CZ. Now that we are all awake we could also talk about the general tendency for centralization. It is not as if the old witnesses were not elected by one ninja-stake entity, so how will you ensure further decentralization?
The current takeover attempts are possible due to 30 for 1 voting rule, see my article about steem security vulnerability. The voting rule as we have it indeed is pro centralization.
yeah the 30 for 1 rule is a problem and needs to be fixed. I did not referred to the current take over. Even before HF21/22 all the Witnesses or at least sufficient majority were elected by one entity which defeats the purpose of byzantine fault tolerance mechanisms. Our margin of safety in dPOS is a 2/3 + 1 based consensus.
[https://arxiv.org/pdf/1904.07310.pdf]
Apparently the rule is there to centralize blockchain governance. So ironic witnesses repeat decentralization like a mantra.
Interesting Chart
Interesting looking thesis. I shall read it!
I feel like the outsize influence of a couple whales on the pre-Tron witness voting was largely due to voter apathy. One of the better side effects of this current craziness is the awareness and education of more people on witness voting. The current stake of Steemit Inc. is much larger than the stakes controlled by Freedom, Pumpkin, etc. and is so far proving insufficient to fully control the chain. So it's not accurate that those accounts prevent decentralization, it's more accurate that inactivity and apathy are foes of decentralization.
totally agree but voter apathy is a constant temporally it can be influenced by massive campaigns), long term it will be always there. In dPOS less than 10% participation. Since there is no strong reason to consolidate ninja-stake we don´t know if they are not able to fully prevent decentralization.
...and many more. You know each of them in person? Maybe the early team, maybe bitshares and cryptonomex members but nobody knows if they are still in possession of their stake or if the have sold it OTC. Its sad that we have to talk about persons in a anonymous network.
even when 1/12 of the stake bribes 3x 1/12 it is a nothing at stake + bribe attack. When there is an atomic bomb which can destroy the planet, this bomb or the planet (how ever you want to put it) simply should not exist no matter whether a nice guy buys it on the legal way. It should be economically impossible.