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RE: Reputational Enhanced Delegated Proof-of-Stake (REDPOS)
all the accounts could be two years old or older and they could come out.
But someone has had to create those accounts two years in advance.
all the accounts could be two years old or older and they could come out.
But someone has had to create those accounts two years in advance.
True, but once they do, then you could have a situation where they come out again and again.
Right now a new account on STEEM costs 3 STEEM. I like the anti-spam account fee. As I said to implement a good REDPOS protocol would need a very well thought use of "reputational related parameters" (such as account age).
One use of the "account age" parameter is restricting an account based on age for the eligibility as a witness.
But the same parameter can be used to alter the "voting power" of every account. So essentialy an effective attack on the chain should take place if most of the chain is "corrupt", but if that happenes, then it is what most of the members of the "social blockchain" decided to be.
And we are talking about just ONE parameter that should be taken into account for such protocol. Ideally if well implemented, all the human related parameters that modify how that kind of blockchain operates should be balanced so as to turn any posible attack into an extremely costly one (in terms of money, time, preparation).
If STEEM should be forked and a "REDPOS" protocol is implemented on that NEWSTEEM, the fork could exclude accounts that are known to be just dormant or that currently are acting against the social blockchain (spam accounts, etc). So it would start "clean".
Would it help if when potential witnesses apply, the blockchain freezes their Steem money, their SP, for a whole month, or a certain period of time, so Steem accounts can vote, so that we get enough time to decide who to vote for and in order to verify how committed the potential witnesses might be? I wonder if the Tron witnesses would be ok with that? It is possible that Justin Sun would say that is way too slow and unfair.
A potential witness doesn't need much SP on their own. A potential witness just needs that users with enough SP vote for them in order to rank higher.
This Justin Sun experience has shown us an "unnatural" situation for a 4 years old (so called) social blockchain. No established community in the real world would let a "newborn" or a "newcomer" to rule it, because experience is an important aspect of governance.
So that's what a good implementation of a REDPOS spirit should reflect at code level.
Sorry. I had things backwards in my brain.
Don't be sorry @joeyarnoldvn, the idea is to ignite a debate.
Good