The Solution to Curation Rewards [Edit/Repost]

in #steemit8 years ago (edited)

!!!This is a slight edit and re-post of a blog I initially made about 2 mo ago.
I believe the content still to have value! The new payout system deems no such thing possible -a post having value after more than 30 days. So I was left with no other choice but to re-post it!!!!!

As I have posted earlier https://steemit.com/steem/@james-show/steem-a-great-innovation-on-the-wrong-footing-part-1
I see a great potential for steem. It is in unique position to take over the world. What is standing on its way is a *‘small’ *design flow – the curation is concentrated in the hands of a few whales. A few whales that received this curation power not due to being good at curation but for other unrelated reasons. For the mass adoption of Steem we need a good curators . And a lot of them as the content needing attention grows each day. The whales are not only arbitrary chosen curators, not only they control virtual the destiny of each end every post, but they are in most likelihood not interested in curation [well most of them are not. A selected few are interested and active, I agrre] hundreds of categories and posts. The consequences of this should be clear to most everyone around here, so let move to the solution.

  1. Let the curation power of an account be separate from the general vested Steem [Powered UP] the account has
  2. Let the curation power be predominantly increased by the curation rewards this account has received aka let each account’s curation power be based on its past performance as a curator.
    Technically the new model aims to be achievable with minimal changes to existing code, so it is easy to implement. Additionally it removes the need for constant changes needed in a (probably 3 steps behind) struggle ‘to keep up with the bots’ as proposed for example here:https://steemit.com/steem/@dantheman/lessons-learned-from-curation-rewards-discussion(point 8)
  3. Vested balance consists of 2 parts -Regular vests [aka STEEM POWER] and Curation Power. That is to say all rules regarding curation power are the same as vesting power as it is today, except the specified rules below. For example powering down from Curation Power to liquid Steem is done the same way it is done now – one can transform Curation Power to STEEM in 104 weekly equal amounts.
  4. All curation award are received as Curation Power, as opposed to STEEM POWER
  5. To start the things up so to speak, each account is given min Curation Power if it has less than 10 Curation Power and if it has at least 10 Vested steem. Aka Curation Power = max (Curation Power, if Vests Balance >= 10 then 10 else 0). Curation is permitted for accounts with min of 10 Curation Power
  6. Curation Power can be increased aka one can power up using/transfering liquid Steem and or STEEM POWER. Such power ups take (say) 104 weeks to complete, each week adding about 1% of the total amount to the Curation Power. Additionally/alternatively ‘to not hurt the whales’ too much, we can start as 10% of each account’s STEEM POWER as Curation Power.

Notes:
*Point 4 above aims to leave the possibility open for individuals who consciously want to involve in curation, to slowly increase their curation power over time
** On the whales or otherwise Sybil attacks – while splitting an account into many small account is possible, the total voting power is drastically reduced due to the calculation of voting using VotePower ^ 2. For example and account with 10,000 Steems split it into 1000 account. The combined voting power of those 1000 accounts will amount to only 0.1% of the voting power of the original account.[edit 07/30 - this point is slightly outdated now]

!!!This is a slight edit and re-post of a blog I initially made about 2 mo. ago.
I believe the content still to have value! The new payout system deems no such thing possible -a post having value after more than 30 days. So I was left with no other choice but to re-post it!!!!!

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You're right man, I think it will be better to be that way

I like your point that in a free market curation whales would be great curators but our whales are advocates for the site. It probably lead them to focus on voting for post that help market the site. I think that's ok for the beginning . By the time new curation experts are done the need for marketing will be over

Hi! This post has a Flesch-Kincaid grade level of 8.0 and reading ease of 70%. This puts the writing level on par with Leo Tolstoy and David Foster Wallace.

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