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RE: Proposal for NEW DPOS for Steem Decentralised Governance

in UpFundMe5 years ago

What you say is all true but is a topic to be brought up when discussing Long-Term DPOS solution.
I really think your system would take a lot of recoding.
There are also many consequences, in that STEEM holdings change every minute, so how are votes balanced? Once could allocate on a % basis and let the system calculate actual values. Again, a lot of new coding.

My short-term proposal has the benefit of being fairly easy to implement without major re-coding. I hope such detailled DPOS discussions will continue and will not be "forgotten" by the community.
Thanks

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I dunno about coding. I note we already have VP for ordinary votes, and all this would require is setting VP decay to 100% with no recharge for witness votes.

Seems pretty easy, mayhap.

I appreciate your forwarding this idea to the community. We do need to do something, and even 1 Steem = 1 vote probably isn't nominal to secure governance from the Sybil attack that has captured it. It would make it harder, and that's good. So would limiting the number of witnesses each account could vote for, since it reduces the stake multiple account holders could throw at a vote.

Maybe together both mechanisms could combine their improved security impact beneficially.

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