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RE: EOS is not free to use

in #eos6 years ago

Your suggestion for a real blockchain resources market is interesting, I think.

Do not know if it can be applied to the current DPOS blockchains, like Steem, Whaleshares and EOS. It might be a next step.

With DPOS the witnesses need to keep up to the standards of the blockchain demands. Telos even lets blockproducers proof if they are up to it.

With the DPOS system a user can decide to put more stake in, leave it like it is, or pull some out. Yet a future innovation might show a solution that makes it possible to integrate your proposal into a blockchain system.

Blockchain tech is still in its early years. Never thought something like Steem would even be possible. Yet here we are.

So, something like you describe might not be that far away. There are things that still surprise me like https://friendup.cloud, also a blockchain innovation. We've not seen it all yet, I guess.

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There's no reason that a proper market can't be set up for DPOS systems.

Of course, there has to actually be exchange, which is one of the reasons the RC system also fails to be a market. When I commit an operation to the steem blockchain, I sacrifice the RC. I burn it. No one actually acquires that RC in exchange for what I am allocated temporarily from the pool. It is a pure limiting mechanic.

If, however, instead of burning RC I gave it to whatever provider was giving me bandwidth/disk storage/blockchain overhead, the witness node, and there was a use for RC for witness nodes which would return it into the overall economic ecology, we would have an actual market.

The problem is from the perspective of a witness node, a user is a pure cost. There is nothing in a direct sense that I offer as value to a witness node that they would be interested in trading RC for. Or anything, really. That speaks to a larger problem which is that witnesses have an active and powerful disincentive to want to increase the number of users on the steem blockchain because every new user is implicitly a consumer of bandwidth/disk space/blockchain operations and thus a cost.

You might counter that the more users, the more likely that the crypto-commodity of STEEM will increase in value, and that's true. Simultaneously, the more users who are creating content, not only the more overhead a witness node must maintain but the likelihood of more spread voting which will dilute any given witness's position in the pool, the more likely there will be more competition for being a witness there is, and the nonlinear nature of the means of replication for witness nodes on the steem blockchain very well may more than eat any possible advantage.

This is just a limitation in using the wrong technology for the wrong solution. Blockchains are a terrible solution for providing a database backend for social networks. An absolutely horrible idea. The storage replication issue alone is a nightmare.

Anything is possible in the future, but some things are definitely limited by the axioms of information theory. And by basic real economics.

Could we see an actual market for witness node resources? It's possible. Are we going to? Not on the steem blockchain.

Thanks for the extended reply, will read it tomorrow.

The only thing left for me to reply is that maybe we might agree that we disagree.

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