Steem Proposed Update: Increasing The Number Of Post Beneficiaries From 8 (To 256?)
As you already know, when posting on the Steem blockchain, you can specify more than one beneficiary for that specific post rewards. This is how apps like busy.org, chainbb.com, dtube.com or eSteem are monetizing their activity. Every time you post using those apps, a small percentage of your rewards goes to their accounts.
The total number of beneficiaries for a post is now 8 and it is hard coded in the blockchain. Apparently, this number is becoming too small for some apps.
At least this is what I saw on this Github issue opened by @vandeberg, one of the Steem blockchain developers.
It seems to be a popular request, since Golos already implemented it, increasing this limit to 64.
I am supporting this change as this hard coded limit is way too small and, incidentally, it was the reason why I stopped the steem.city community project. In the initial design of steem.city, each community in a "neighborhood" should have had the rewards split across all their members following a few pre-defined schemes. Since there were only 8 beneficiaries allowed, that would have mean a neighborhood would have had only 8 members. Kinda odd.
In my opinion, the soft cap limit for beneficiaries should be raised to 256.
If you support this change and want it implemented in the next hard fork, leave a comment or go ahead and upvote the Github issue.
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I really do not have enough knowledge about it but I really support you. You are more wiser than me in this context and will always do your best for the community.
@dragosroua thanks for the link - I definitely agree this should be increased. Once hivemind is released (please god let that be soon!) I think there will be a large need for increased beneficiaries to support a healthy team of community admins/moderators without resorting to off-blockchain systems like Utopian and other sites are forced to do now.
You're welcome! I guess 8 was just some sort of an "alpha / test" thing, but then nobody looked into it anymore. I don't see any cons to increasing this.
Yes , i want to support this change and want it to be implemented in the upcoming hard fork with soft cap limit for beneficiaries to be raised at 256.
Interesting, I had seen the limitation and I found the number very low, for the creation of more ambitious projects.
256 I think it's a good number, it's sufficiently high to not require short-term changes
I never use it until now can someone explain me a bit more what is the benefit of this and when is it right to use it?
It's a feature at the blockchain level. When you post, you can adjust the transaction for a post so it will split the potential rewards with up to 8 arbitrary users (beneficiaries). For instance, I can have something like this (very rough pseudo-code):
transaction.post('title':'Some Title', 'body':'This is the body of the article','beneficiaries': '@dragosroua:20,@bankthecrypto:20,@deanlogic:60').In the pseudo-transaction above I choose to get 20% of the rewards, 20% goes to @bankthecrypto and 60% to @deanlogic.
Like I said, there is no user interface for this feature on Steemit (or in any other app on top of it, AFAIK), but it is used at the blockchain level. All posts you make on busy.org, or dtube.com are broadcasted with arbitrary beneficiaries, so a part of your rewards are going to that specific platform. I think in chainbb the platform account gets 15% or something like that.
Is it clear now?
Thank you for that very clear now
I really didn't know this option is exists just show me how much i still have to learn on Steemit
Me neither. I wonder witch site is more complicated this or Facebook. lol Obviously this one is way better though.
Okay. I get that now. But that means a reduction in the potential reward of the original author of the post. Since I am just a user and I do not set the beneficiaries myself. Is the increase in number of beneficiaries not gonna deplete my earnings more?
Yes, obviously. But imagine a community in which ALL members are splitting their rewards to each and any one of them. Like every time everybody posts, everybody gets a part of the rewards, as beneficiaries.
I did not even know this before now. I don't know how that is done, but the idea is cool. I also think increasing it will be more beneficial especially to large communities on the steem blockchain like you rightly pointed out.
Different question: why should be this hardcoded in the blockchain? I would see it like a variable that can be user changable...
The hard limit is hardcoded, not the actual number. So you can pick as many beneficiaries as you want, as long as they ar under 8. I have no idea why there is a hard limit in the first place.
Well, just because I can't think of a reason to use more than 8 payouts, I can't see why it should be limited to 8 either.
Of course there is no point in having only 8 people in the neighbourhood. The count of beneficiaries should increase to 256 or maybe more. There is no point in not supporting the issue. I m with you @dragosroua
So instead of 8 people getting 25% of the rewards or however that works since posters only get 75% this would split that 25% from 8 to 256 or whatever the new final number is? If that is correct then yes I would very much support that it seems like to much money is split between too few people/companies
It's different: this applies to an arbitrary post. There is no UI on Steemit for that, but the functionality exists at the blockchain level and it's coded in apps alike busy.org, dtube.com, etc. It means that, when you post something, you can choose how much from the potential rewards you want to split with up to 8 persons (and in what percentage). The change aims at increasing that number to up to 256 potential beneficiaries.