Should community curation accounts use multisig

in Steem Poll10 months ago

Community curation accounts are controlled by the admins and moderators of a particular community. Should this account use multisig active authority? This in my opinion would reduce the threat of one of the mods/admins running away with the funds. I have seen this happen in a community that I was a moderator in, a while back. Would love to hear your thoughts on the same.
> Vote for this Poll on SteemPoll https://www.steempoll.tech/poll/starlord28/m93xo10qt7f52ise1648316758

Sort:  

Community curation accounts are controlled by the admins and moderators of a particular community. Should this account use multisig active authority? This in my opinion would reduce the threat of one of the mods/admins running away with the funds. I have seen this happen in a community that I was a moderator in, a while back. Would love to hear your thoughts on the same.
> Vote for this Poll on SteemPoll https://www.steempoll.tech/poll/starlord28/m93xo10qt7f52ise1648316758

Community curation accounts are controlled by the admins and moderators of a particular community. Should this account use multisig active authority? This in my opinion would reduce the threat of one of the mods/admins running away with the funds. I have seen this happen in a community that I was a moderator in, a while back. Would love to hear your thoughts on the same.
> Vote for this Poll on SteemPoll https://www.steempoll.tech/poll/starlord28/m93xo10qt7f52ise1648316758

Ups... 🤔

Oh damn. Didn't realize the bug here. So, I was filling in the wrong content when the keychain was used. Pushed the fix just now. Won't have this issue from here on.

Yes

Yes, that would be good.

Yes

I say yes, which does not mean that I see the need in our community :-). But since there have already been corresponding cases, there is nothing wrong with that.
I only see difficulties if it is a community that is founded/managed by a single person. Besides, it is up to the admin/mods to decide which account is the community account...

Should this account use multisig active authority?

What is "multisig active authority"? Would you please explain.
In our community the authority is called TRUST - an I'm very happy with it.

Yes. So, in my past experience, we had a community curation account that would also send out delegation rewards. The problem arose towards the end of 2021 when the curator account was 100% powered down. The reason that was given was that these funds would be distributed to the delegators within the community.

When the funds finally arrived in liquid Steem, they were withdrawn to exchange and none of it went to the delegators. This happened twice in a row and I was kept in the dark. This is why most of the community members including me lost trust and ended up withdrawing delegations.

The way I see a multisig active authority account is that more than 1 signature would be required to make any transactions using the active key.

Let's take the example of @deutschunplugged. I believe that you and the other two MODS all have access to the active key of the account. In this case, either one of you can(not saying that any of you will) initiate a power down and worst-case scenario steal the funds of that account and disappear(Pretty much what happened in the case of Best of India).

However, if this was a multisig account, you along with the two mods would have partial access to the funds. So, in order to make transfers, you would require the signatures from either all three or the majority of the MODS/ADMINS(This part will be configurable).

This I feel helps bring trust back. Additionally, this would also help all the high stakes holders like yourself to add an additional layer of security to your funds. If you made your own wallet a multi-sig wallet, then one would require more than 1 active key signature to move funds out of the wallet.

Oh No, this is so sad. This can really hurt. Thanks for explaining this, its much more clearer to me what multisig is .

And i'm so sorry that you had such sad experience.

Oh, many, many thanks for this detailed comment - now I understood the question.... 😇

Okay, since the embezzlement of community credits has obviously already taken place and also takes place "in secret" (accounts are called community accounts, but in the end only one account owner enriches himself from them), I think your suggestion is very good. Even if it will be a bit annoying sometimes. For example, I'm thinking of our weekly payment of contest winnings - it's a bigger hassle to have to coordinate for that first.

Nevertheless: If the idea is feasible, I think it's good!

I was about aking this , thanks for asking that same question sir.

Oh wow😃, thank you for the correction. And trust me i never knew this and i beleive many doesnt know as well, but its nice to know this today.

Thank you very much Ma, i always appreciate yourcontributions to the blog and your beautiful posts about sheeps. Someday, i'll prepare a special gift for you😊.

ShesaladyTomjonesGIF.gif

Your post is manually rewarded by the
World of Xpilar Community Curation Trail

STEEM AUTO OPERATED AND MAINTAINED BY XPILAR TEAM
https://steemit.com/~witnesses vote xpilar.witness

When one of the mods/admins running away with the funds it's necessary to do this to protect Steemit and its Members!

Yes

Hello friend! Get double cashback every day! Vote for the witnesses @steemit-market and @alexmove.witness and enjoy life! Good luck!

Coin Marketplace

STEEM 0.23
TRX 0.07
JST 0.029
BTC 23229.17
ETH 1677.40
USDT 1.00
SBD 2.66