Little Help here with explaining changes of the HARD FORK

in #steem • 4 years ago

Hey guys.... so I've been away from steem for a while and just got back last week.

I know a lot of changes have happened with the HARD FORK.

I would really appreciate it if someone could point me to an official post or any well explained post enumerating all the changes.

Thanks in advance.

#hardfork #help #bounty #steem-bounty
4 years ago in #steem by
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     4 years ago 

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     4 years ago 

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     4 years ago (edited)

    There where 2 main changes:

    The introduction of a proposal system called the SPS (Steem Proposal System) or Steem DAO. It is similar to the worker proposal system in Bitshares. Basically anyone can propose a project and request funding if enough stakeholders support it by voting on the proposal. You can find the proposed projects on either one of these frontends:

    The funding for the Steem Dao SPS comes from reducing the reward pool from 75% of the inflation to 65%. The approved projects are paid in steem dollars.

    The EIP (economic improvement proposal) that introduced 3 changes:

    • The return to the 50/50 payout on posts between authors and curators (instead of 75/25).
    • The introduction of a separate downvote pool. Each account gets 2.5 "free" downvotes per day. This was introduced to help stakeholders combat "abuse" without having to waste voting power.
    • The author rewards where changed from linear to superlinear linear convergent. Basically the votes are non-linear below a certain threshold. After that the payouts are linear again. This was introduced to help combat the milking of the rewards with small paying spam posts.

    In addition the curation rewards reverse auction was changed from 15 minutes to 5 minutes.

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     4 years ago 

    Thanks man.
    This helped a lot

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       4 years ago 

      @gamsam, Good to see you after a long time brother. The main change after Hardfork is Author/Curation rewards became 50/50 from 75/25 and it boosted the both Curation Game and Content Creation.

      Wishing you an successful time ahead and stay blessed.

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       4 years ago 

      Thanks man. Good to be back too

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         4 years ago 

        Welcome and enjoy your new start and journey. Stay blessed.

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           4 years ago 

          You can check out the following official posts

          https://steemit.com/hf21/@steemitblog/newsteem-is-live
          https://steemit.com/hf21/@steemitblog/hardfork-21-survival-guide

          The highlights would be 50/50 rewards, compound linear curve on rewards, 2 free downvotes and the Steem proposal system. We're already working towards the next HF so we can launch SMT's

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           4 years ago 

          Thank you man

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