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RE: DPOS Consensus Algorithm - The Missing White Paper
Excellent review, thank you!
In light of this, what are the major criticisms to DPOS you know of?
It seems obviously superior to algorithms which waste energy, are less secure, and less performant. Do you think others are not aware of how it works or too biased by the technology they've already committed to? Is DPOS the Betamax to proof-of-work's VHS?
We know superior technology doesn't always win in the marketplace. So is the next challenge a marketing effort to gain influence and increase adoption for DPOS?
Biggest criticism is its reliance on votes and how it breaks down under poor token distribution. Politics is unavoidable so it's best to formalize it rather than have the kind of consensus failure bitcoin faces with scaling debate.
Thank you, Dan. I think the poor token distribution argument is a good one, but hopefully one that can be solved over time. Once things get distributed widely enough, it mostly becomes a non-issue. I have high hopes for the EOS distribution scheme. If it's like how you've done many other things, I'm thinking it'll be ahead of its time.
I also agree about the politics. Would be great to avoid it, but since we can't, it makes sense to make it clear and formal.
Sorry for jumping into your comments but non of this Steemit Techy guys are responding to me. I convinced a friend to join steemit after bragging to him for weeks now its been almost a week and he hasn't gotten a passkey, please i know him and he's gonna bail out on me if he didnt get it soon....PS - i was referred to @ned or @dantheman but none of them seems to recognise me or any of my comments since joining steemit in March, not to talk of checking some of my post, so pardon me as i just check out all the Dan i seem to come across on Steemit
I cannot help. Don't work for Steemit.
Alrighty, thanks......
I can't help with that process either, it's entirely in the hands of Steemit Inc. But if you're really eager to get him online you can fund an account for him with @anonsteem or SteemConnect (check @timcliff's recent post).
okies, now i get......thanks a bunch!
regarding onboarding new people on STEEMIT, there's apparently a huge backlog right now, like 50K or so! If your friend is still having trouble getting approved after a week or so, have him visit the steem.chat help forum. They should be able to help get him all sorted out!
I believe the market will choose the better tech in this situation. Our community is too smart to continue the adoption of an inferior tech, long term.
It depends on what kind of applications are built on top of DPOS. If there are services that can only work with high capacity blockchain, it's pretty clear that there won't be any competition.
But, of course, somebody has to build those services first.
That's a great point. If a Graphene, DPOS system is the only one that can handle specific use cases, then it wouldn't be a Betamax/VHS situation since we'd be the only available decentralized blockchain option. Maybe those verticals are a good place to focus our marketing efforts.