RE: Steem Power and Governance, Part 1: Centralization and Decentralization
Here's where I have trouble. So if the 20 witnesses decided they wanted for any reason to cooperate with each other, to the detriment of the system as it is today, What's in place to prevent that? As I understand from earlier readings they have to earn their spot, can be rejected, and are well compensated. What is in place to prevent collusion of these 20 witnesses in their own self interest? You talk about decentralization leading to fewer and smaller opportunities for centralized authorities and I fail to see how 20 masternodes (for lack of a better term) does this.
I am more than happy to admit to some ignorance on the matter, but how I read what was written is "Centralized is faster, so we kind of do that just a little bit."
EDIT: Reread the whitepaper as it pertains to witnesses and their role and how it is implemented. Leaving the question up as it's good for people to find their own answers and not wait for them. I don't understand every aspect of what I have read.... but I am satisfied it's not very likely at all.