Steemit Engagement Challenge - S6W6: Role Of Witness For STEEM Growth
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Greetings to you and welcome to my post today. In this post, I have talked about witnesses and other important roles of Steem witnesses that will interest you as part of my entry to the contest organized in the STEEM INDONESIA community.
Steem blockchains make use of a consensus mechanism known as delegated proof of stake (DPOS), which requires a certain set of people to create blocks. This set of people are called witnesses, and they are elected to act as the governing body and block producers on the Steem blockchain, which we all need to support by voting for them. Having said that, let's find out more about the witnesses below.
Tell us what you know about witnesses, for example, the tasks, roles, and functions of witnesses in the Steem blockchain. |
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My dear friend, in the context of the Steem blockchain, an individual who runs a witness server (which generates blocks) and posts a price feed of STEEM/USD and SDB to the network is known as a Steem witness.
In a nutshell, witnesses are people that are in charge of creating blocks and adding them to the blockchain, and they also act as the governing body, which is chosen by the Steem community based on the votes that are cast by users like you and me. As a Steemian, you can only cast your vote on just 30 witnesses of your choice.
In the Steem blockchain, the roles of witnesses include the following: creating "blocks" and adding them to the blockchain, as well as storing the entire blockchain's data. Information regarding our posts, comments, votes, and financial transfers such as SDB and STEEM are contained in these blocks.
The production of information in a price feed that shows how STEEM Dollars (SDB) are always worth $1 in Steem by using the 7-day exchange is another important role of witnesses in the Steem blockchain.
Since the most important role of a witness is to produce blocks on our behalf, in a case where the witness fails to produce a block at his or her time slot, the time slot of the witness will be skipped, and the witness that is next will produce the next block, which is the main reason why there are the top 20 witnesses by vote plus the addition of 1 witness that is selected randomly, making the list the top 21 witnesses. The witness that is selected randomly is neutral.
Note that a block is produced every 63 seconds, and each witness is given a time to produce a single block, which is usually 1 block every 3 seconds.
With the exception of the top 19 witnesses, who receive 1 block every 63 seconds on the Steem blockchain. A witness in the Steem blockchain is rewarded in accordance with where they are in the witness ranks, i.e., the level of the witness. In contrast to a witness at rank 50 below, who might only create a single block each hour, a witness at rank 30 can generate as many as four blocks per hour.
In regards to that, all payouts for witnesses are less liquid. In a nutshell, witnesses are rewarded, usually in the form of STEEM power and not liquid Steem or SDB.
Why do we need to choose witnesses? |
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There is a need for us to choose witnesses, because choosing witnesses simply means we are electing people who will be creating blocks and producing price feeds about Steem/USD and SDB on our behalf. We need people that will be constantly working on our behalf since Steem blockchain is making use of the DPoS mechanism, so we need to choose witnesses that will speak on our behalf just as we elect leaders to represent us.
A lot of Steemians have failed to understand that there is a need for us to choose witnesses to represent us, and such users who don't know about the need to choose witnesses are seriously missing out on the importance of choosing some witnesses, from whom they may receive support in return. In summary, the more you support the witness of your choice, the greater your chance of being supported by the witness.
Now, having said that, it is always advisable for us to choose witnesses that have a positive influence on Steem and those that are ready to work positively for the growth of Steemit and the STEEM blockchain. By choosing those witnesses with positive value, we can add value to our dear Steemit platform, which will benefit you and me.
In order to be able to choose a witness, all you have to do is visit the witness voting link at https://steemit.com/witnesses and cast your vote. As earlier said, you can vote for up to 30 witnesses out of the 100 witnesses that are shown to you.
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screenshot gotten from https://steemit.com/witnesses
In addition to this one, once you have already landed on the page as shown above. You can cast your vote by clicking on this sign, which looks like that of an upvote. Note that you can withdraw your votes, and you can't vote on the same witness twice unless you withdraw and cast your vote again.
Name the witnesses you have chosen. And which one of them do you prefer the most? |
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The screenshot above shows the name of the witness that I have chosen. From the screenshot above, we can see the following names:
Indeed, like I have said earlier, it is always advisable for us to choose witnesses that have positive values for this great platform, and I am very confident that all the witnesses that I have cast my vote for have positive values for Steem, which most of them have proven to us by creating most of the tools we are using today to check one of two things. Having said that, currently pennsif.witness which is run by @pennsif is my most preferred witness.
Looking at the projects that Pennsif.witness intends to do and has been doing, there is no doubt that the witness is going to add positive values to the Steem blockchain and the Steemit platform.
I am inviting; @temitopef, @badmus-official, and @preye2.
Steem witnesses are individuals who are responsible for creating and adding blocks to the Steem blockchain. They are chosen by the Steem community through voting and act as the governing body for the blockchain. Witnesses have several important roles, including creating and storing blocks, producing a price feed that maintains the value of STEEM Dollars, and ensuring the smooth operation of the blockchain by producing blocks on a regular schedule. Witnesses are rewarded based on their rank and the number of blocks they produce, with the top 19 witnesses receiving the most rewards. It is important for Steem users to support and vote for witnesses in order to ensure the stability and growth of the Steem blockchain.
Best of luck in the contest
I appreciate your contribution and time here sir. Thank you for stopping by.
Yes, a post with a detailed explanation, bro, very informative to find out about the work of a witness or validator (current general description).
To be honest, the existence of the DPOS mechanism has increasingly made democratization in the decentralized blockchain.
I sincerely, appreciate your time here. Thank you so much for stopping by.
yeah of course buddy
Partisipasimu dalam.menggunakan hak suara dan memilih para witness tentunya sangat vermanfaat bagi mereka sehingga para witness yang sudah kamu pilih akan bekerja lebih baik lagi keberadaan witness dalam ekosistem steem memang sangat penting dan memiliki peranan yang besar. Semoga ekoistem steem mengalami pertumbuhan yang signifikan.
Salam sukses
Happy new year
Thank you so much friend for stopping by I really appreciate your time here.
As always, your posts are always top notch my boss, and I love reading from you. You have shown us how witnesses play vital roles in the growth and betterment of the Steemit platform.
As users of this great platform, our duties to involves selecting capable witnesses. It is important to take the time to research and learn about each witness before we vote for them. Taking a look at their website or any other social media accounts they have, and reading their experience and qualifications. This will help you make an informed decision about who to vote for.
Thanks for sharing and goodluck in this contest boss.
Your comments and support always move me forward. I sincerely appreciate your time here sir. Indeed, witnesses are great workers that takes care of block production and many others.
Greetings friend @josepha
As you say, the witnesses are the ones who ensure that each transaction is executed, knowing that these transactions are related to everything we do on the platform, from comments to giving a vote. This activity requires a lot of work, literally 24 hours a day.
The witnesses you have selected are doing a very good job.
I appreciate your time here and support. Indeed when selecting a witnesses we need to select those with positive influence on Steem that are ready for the job.
Team verification results :
Kind regards,
TIM STEEM INDONESIA
Thank you so much for verifying my post. Am so grateful.
You are welcome my friend
You have written beautifully about Steem Witness and its role, they play a major part in creating blocks that are very important in storing information, promoting trust, transparency, and security, and making data transactions traceable. Thanks for the invite and good luck with the contests.
Thank you for honoring my invitation.
Brother you share proper details about the witness role on this platform. The witness you choose his work for this blockchain is positive. He is working here 5 years or more with trustly so we can trust him. I like his initiative work. Nice presentation brother. Best of luck. 🥰
I appreciate your time here brother.
Amigo has hecho muy buena publicación, la información sobre los testigos es muy buena, muy clara y detallada... Sin duda alguna una lectura fascinante.
Éxitos en el concurso.
I sincerely appreciate your support friend. Thank you for stopping by.
Very detailed bro👍🏼
You are right, we need to select witnesses with positive influence.
Weldon bro
Success in the contest 🥂
Thank you for stopping by.