Witness-Blocks Challenge
We figured it'd be fun to challenge witnesses to share with their stakeholders and supporters where the revenue they generate for producing blocks is going.
The premise is simple. Let's say your witness got to process 20 blocks this month. That's about 19 SP. What did you do with it? What are you planning to do with it to benefit the STEEM ecosystem?
The Witness Blocks Challenge
- Do something useful for others (ie. free delegation, account creation for others, etc.) with your witness blocks
- Write a post about it
- Tag it with #witness-blocks
- Nominate a witnesses
FAQ
Q: What if I get tagged but I'm new and didn't produce any blocks yet?
A: Write about what you will do. Voting on others for free doesn't count -- you're supposed to do that anyways.
Q: All my projects benefit me before others.
A: Take some of your blocks and help someone else without an ROI. Giving won't kill you.
Q: I power down continuously. Can I still participate?
A: Yes, if you do something useful with the SP you have left.
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Like what we're doing? Support us as a Witness.Go to https://steemit.com/~witnessesAt the bottom, type in guiltypartiesClick VOTE
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I am sorry for the stupid question, but could you explain or send me to a post that explains exactly what do a witness do and why do we need a witness? I voted on you as a witness, but only because someone told me that you were the witness of steemsilvergold.
A witness is a (based on the proof-of-stake model) block processing server for the STEEM blockchain. We operate the servers that process the transactions, combined into 'blocks'. When you vote for a witness you cast your stake in their favor, increasing their odds of processing the blocks. So let's say that if your account had 500mv (million vests) and you were the only voter for a witness, then the 5 blocks a week that the witness processed would be the direct result of your support.
Right now the majority of us are operating 64 GB RAM servers as we must account for the size of the blockchain, which is presently 32 GB. We also publish price feeds, set account creation fees, accept or reject hard forks, apply patches where needed, etc. Without witnesses the STEEM blockchain can't exist.
Each block is worth 0.96 SP for a witness outside the top, like myself. On average with everyone's support right now, I am able to process about 10 blocks a week, sometimes more and sometimes less. That means I am getting approximately 10 SP per week. I wouldn't get this reward without you. The same goes for other witnesses; no one would get their "producer reward" without fellow community members putting their stakes behind them in the form of witness votes.
Aside from the technical aspect of it, witnesses also create and develop tech services, community advents and other things beneficial for STEEM. Not all witnesses do, some just try to purely profit without contributing anything except the bare minimum. But a lot do. In doing that, they cycle the "producer rewards" back into the STEEM project. Which is what this challenge is all about -- challenging witnesses to disclose what they've given back.
Amazing reply! I wish my upvote would be dozen of dollars, so happy I am with the fast reply. Thank you.
Great explanation! I also appreciate the initiative you put out there in the original post.
Incredible initiative @guiltyparties! Thank you for being forword focused and making it about positivity over drama! Resteeming and following the #witness-blocks trail to learn more about active, engaged and community minded witnesses! Blessings 👍
wow your post is very beautiful and intresting thanks for sharing a blog @guiltyparties
I'd love to participate. However, I've been witness for a month now and yet to receive a block. I honestly don't mind sharing.