This hardfork is about one thing: Improving the rewards curve
While developing Steem Simplicity (0.17.0) we began looking into changing the rewards curve for comments. The primary reason was to distribute rewards more evenly and reduce the unbalancing effect of vote concentration. The initial proposal was well received and we were asked to do the same for posts. We had underestimated the desire for a flatter rewards curve. The solution we initially designed was too complicated and did not meet the community's goals. The curve was scrapped and we decided to postpone the change to give us suitable time to further discuss the implications and choose the right curve.
We want to move forward with changing all content rewards to a linear reward curve. This had been suggested by multiple people and through our research we agree that this is the best choice to grow the Steem community into the future.
With the introduction of a linear reward curve everyone will have a say directly proportional to their stake.
Curation Weight Curve
As with past changes to rewards, we must change the curation reward curve in concert. We propose the weight curve be the square root function. Comparisons of curation rewards on existing posts under this new model show a high degree of similarity to current rewards that even slightly favors smaller accounts more than the current weight curve does.
We don't expect many people to see significant differences in their curation rewards using this curve.
Increase Each Vote's Impact
We want to change the voting power reserve rate to allow voters to spend more of their voting power in a single vote. You will be able to concentrate your influence with fewer votes while still being able to spread it out if you choose. Currently, you are limited to using 1/200th of your remaining voting power in a single vote. We want to increase this somewhere between 4-10x per vote.
We are committed to proposing smaller hardforks, and concentrating design and engineering efforts on fewer features that are focused on accomplishing a specific goal for the release. That’s why this hardfork is so much smaller, and we hope to continue this trend going forward.
Have comments? We’d love to hear what you think.
- Vandeberg (@vandeberg) and the Steem Blockchain Devs