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RE: THE MILLION BITCOIN QUESTION: Why should we vote you as WITNESS? (With Tagalog Translation)
Thanks for brining up the witness category. I'll have to browse it so I can learn who to vote for. Ive been avoiding it in fear of voting for a charismatic idiot or devil.
Still dont really understand though, it sounds to me like witnesses are basically steems version of miners is that correct? If so, why is this a voteable system?
As much as i want to answer your queries bro, i'm still learning about this witness thing or how can i call it, "program" in STEEM. Much better if you read some more detailed articles about witness, like this one here: https://steemit.com/steem/@steemitguide/steemitguide-what-is-a-exactly-is-a-steem-witness-and-why-every-user-should-vote
Thats a good article, I dont really know what the diffrence between mining and verifying is but i guess they have other duties expected of them like keeping an accurate price chart.
https://steemit.com/witness-category/@lukestokes/steemit-is-free-but-your-witness-vote-determines-its-future
Came across this one browsing through the witness-category before I seen your comment.It mentioned some other things like covering the cost of new accounts and voting on updates.
Wow that's nice! I have to get my hands on that article :D
Thank bro, information really needs to be disseminated to all. :)
Unlike other blockchain were miners compete for blocks based on the capacity of their hardware etc, on steemit witnesses a decided upon by the community, so behavior is always going to be a factor for witnesses to be at the top. Among other things witnesses can determine to a large extent the state of steem, for instance before a hardfork or updates occur there has to be concensus among witnesses.