You are viewing a single comment's thread from:

RE: Steemit Crypto Academy Contest / S5W2 - Get to know the Steem Blockchain

in SteemitCryptoAcademy2 years ago (edited)

These witnesses are selected by the users by the voting process. Actually, the vested Steem tokens (Steem Power) plays a very important role in this process.

Yes, that's why it is called Delegated Proof of Stake (DPoS) as it allows everyone that stake on the blockchain to vote for delegates or witnesses who are responsible for data validation and security of the network.

About 3.1 Steem tokens are minted after each new block is produced in the blockchain. So, we can also roughly say that one Steem token is minted or produced in a second.

I wrote about this in my post after I carried out my calculation, I don't know if you also do the same or you assume the amount of Steem tokens minted when new blocks are added on Steem or got it from any online post about Steem.

Sort:  

Thanks a lot friend for your precious comment here. Yes, I have already read about it in a post a few months ago. But, it is easy to calculate it.

(Supply of Steem*Current inflation rate)/annually produced blocks

Thanks a lot for stopping by. Greetings.

 2 years ago 

It's actually Virtual supply not supply in general.

Thanks friend 🤗

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.029
BTC 76732.17
ETH 3115.22
USDT 1.00
SBD 2.62