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RE: Bitshares: Increasing witness count & Introduction of witness vote degradation?
The number of witness now in Bitshares is not fixed at 27, it can be increased if people vote for more witness or decreased if people vote for less.
What about modifying this modifier so that we have more witnesses for the current vote weight participation the BTS network currently has?
It will increase the cost of running the whole BTS system, because more money will be paid to VPS suppliers. Also, the current Bitshares system is running very stably, which means the witnesses are doing great job. I would rather see more API/gateways, instead of witnesses.
I do agree that the current witnesses are not active as they are supposed to be. I like the voting degradation idea.
Fair enough, if our transaction volume increases drastically then more serious hardware will be required. If market value increases alongside transaction volume then we could potentially cover both increased hardware costs and an increase in witness count.
What's worth noting that even if monthly costs were $2k per witness and we had 100 witnesses, that's still a fraction of the cost of the Bitcoin network (money being spent on POW/Electricity rather than VPS/Hosting).
I think that vote degradation is a better idea because it wouldn't affect network stability, it would force witnesses to become more active & continuously campaign for their witness positions rather than just being held to the current standards of 'is their node still running?'.