The Witness Voting Engagement Report - 2018-05-18
How Engaged Are Steem Users in Voting for Witnesses?
That's what this monthly report is all about!
This month's engagement rate for accounts with 100,000 VESTS or more is:
32.88%
That's up 6.6% since last month, with a 5.9% increase in new accounts.
The percentage of VESTs actively voting is:
70.8%
If you're not sure what a witness vote is, or why it's important, please see my older post Steemit is Free, But Your Witness Vote Determines its Future.
Witnesses, within a Delegated Proof of Stake (DPOS) blockchain like STEEM, are very important because they protect the blockchain and add new blocks with validated transactions to it. Unlike Bitcoin or other Proof of Work (POW) blockchains, there is no concern with centralized mining farms controlling or forking the protocol into something the users don't want. With DPOS, the largest stake holders get to pick who controls the protocol and those stake holders can change the witnesses at any time by changing their witness votes. For a detailed explanation of DPOS, see DPOS Consensus Algorithm - The Missing White Paper. You can also see this post of mine for why I'm such a fan.
This report uses @arcange's STEEMSQL. You can now pay for access via https://steemsql.com/ for 1 SBD a day or 10 SBD for a month. Check it out and give him a Witness vote if you haven't already.
MV stands for Million VESTS.
VESTS are like vested shares in the STEEM blockchain and relate to the STEEM token by a ratio (491.487 STEEM per MV as of this report).
VESTS impact the weight of your vote on posts and the influence of your vote for STEEM Witnesses.
Here's how I'm filtering the data:
All Accounts: No filter applied, includes all accounts.> 100,000: Accounts with 100,000 or more VESTS.> 0 Posts: Accounts which have posted at least once.> 100k & > 0 Posts: Accounts with 100,000 or more VESTS who have also posted at least once.Active: Accounts which have voted, commented, and posted a root post in the last 30 days.
The percentage values in parentheses show the change since last month's report.
The total VEST numbers listed below don't include accounts belonging to Steemit, the company, which are not currently participating in witness voting.
Overview
This shows the total number of accounts and VESTS.
| Filter | Accounts | % Accounts | VESTS | % VESTS |
|---|---|---|---|---|
| All Accounts | 1,001,566 (5.9%) | 100% | 204,139 (0.6%) | 100% |
| > 100,000 VESTS | 37,745 (2.4%) | 3.77% (-3.3%) | 198,740 (0.6%) | 97.36% (0%) |
| > 0 Posts | 452,118 (6.1%) | 45.14% (0.2%) | 151,775 (0.5%) | 74.35% (-0.1%) |
| > 100k & > 0 Posts | 28,251 (3.2%) | 2.82% (-2.8%) | 149,029 (0.5%) | 73% (-0.2%) |
| Active | 81,318 (-2.1%) | 8.12% (-7.6%) | 77,571 (2.1%) | 39.03% (1.5%) |
Voters
This shows the total number of accounts and VESTS which have voted for a witness or set a proxy.
| Filter | Accounts | % Accounts | VESTS | % VESTS |
|---|---|---|---|---|
| All Accounts | 47,163 (7.6%) | 4.71% (7.5%) | 144,539 (0.9%) | 70.8% (0.9%) |
| > 100,000 VESTS | 12,411 (6.7%) | 32.88% (6.6%) | 144,055 (0.9%) | 72.48% (0.9%) |
| > 0 Posts | 41,791 (8.3%) | 9.24% (8.3%) | 116,136 (1.2%) | 76.52% (1.2%) |
| > 100k & > 0 Posts | 11,852 (6.9%) | 41.95% (6.9%) | 115,679 (1.2%) | 77.62% (1.2%) |
| Active | 20,157 (4.3%) | 24.79% (4.3%) | 62,329 (1.8%) | 80.35% (1.8%) |
Voting For Inactive Witnesses
This shows the number of accounts which are currently voting for witness accounts in the top 100 there not currently active witnesses. This number should be 0.
| Filter | Accounts | % Accounts | VESTS | % VESTS |
|---|---|---|---|---|
| All Accounts | 8,310 (-8.4%) | 17.62% (-8.4%) | 32,719 (-14.5%) | 22.64% (-14.5%) |
| > 100,000 VESTS | 2,099 (-13.7%) | 16.91% (-13.7%) | 32,632 (-14.5%) | 22.65% (-14.5%) |
| > 0 Posts | 7,935 (-8.3%) | 18.99% (-8.3%) | 32,226 (-14.6%) | 27.75% (-14.6%) |
| > 100k & > 0 Posts | 2,064 (-13.8%) | 17.41% (-13.9%) | 32,142 (-14.7%) | 27.79% (-14.6%) |
| Active | 2,944 (-18.4%) | 14.61% (-18.3%) | 12,189 (-30.4%) | 19.56% (-30.3%) |
These are the inactive witnesses in the top 100 as of this report, but keep in mind some of them may only be temporarily inactive:
wackou
roadscape
steempty
datasecuritynode
witness.svk
bitcoiner
arhag
au1nethyb1
cyrano.witness
theprophet0
bayareacoins
kushed
tdv.witness
Commentary
We're up over 1,000,000 STEEM accounts! That's a pretty exciting milestone, but unfortunately active accounts dropped by more than 2% to 81,318. I'm happy to see accounts with some voting weight (more than 100k VESTS) are up 6.6% to 32.88% and overall VEST usage for voting is also increasing (slightly) to 70.8%. In addition, voting for inactive witnesses has declined quite a bit, which is a good thing.
I wanted to highlight a helpful tool for you to get further insight on witnesses and who they vote for here: http://steeme.com/witness created by @asbear.
Have You Voted for a Witness?
If you haven't voted yet, please consider setting @lukestokes as your proxy voter. Otherwise, go vote for some STEEM Witnesses you respect who you believe will do what's in the best interest of the network. I hope that includes my witness, @lukestokes.mhth. If you're not sure who to vote for, take a look at some witnesses you respect and see who they are voting for via their account on steemd.com or steemdb.com. Some witnesses are very active behind the scenes supporting important projects, but not as active as bloggers, so keep that in mind when you vote. This should not be a popularity contest favoring those who are the best communicators (though communication as a witness is certainly important). It's meant to put in place the best people to support the STEEM blockchain. That includes multiple dimensions from technical expertise to economic theory to community building.
For more on what witnesses are doing each week, follow @timcliff's weekly Reports from the Witnesses post.
Again, if you're not sure what a witness vote is, or why it's important, please see my older post Steemit is Free, But Your Witness Vote Determines its Future.
Thank you! I hope you found this useful.
Previous Reports:
- 2018-04-19
- 2018-03-23
- 2018-02-23
- 2018-01-18
- 2017-12-21
- 2017-11-15
- 2017-10-18
- 2017-09-20
- 2017-09-13
- 2017-09-06
- 2017-08-30
- 2017-08-24
- 2017-08-16
- 2017-08-08
- 2017-08-01
Its funny I found this topic because I use to vot for witnesses quite often but lately i havet done it. Ill have to focus on some steem witness voting this weekend. Ill start by voting for you since I read quite a few of your posts :)
Your info is very interesting and highlights some important points. The fact that inactive witnesses receiving about 20% of the vests is a problem that needs to be addressed, IMO. As a conclusion to the post I am hoping that you have some ideas or proposals on how to deal with this?
Addition: I just checked the overall witness list. There is only 1 witness in the top 50 that is inactive so most of the inactive witnesses have much less vests, which isn't too bad. Still good to find a way to clean that up.
Excellent post friend! very important everything you inform the steemit community, it is of much help
thank you for the latest information, it will be very important for me, if there is time can you help me @lukestokes
A big well done for the good work
very good post @lukestokes, after I read from the contents of your article, very much new science that I got here, which I do not know about Witness Voting, and how Witness Voting works. I think, the more Witness Voting we get, the greater our chances to be successful in Steemit, is that right?
I will try to gradually understand all the words you write, because it is very useful information for me. Thank you so much for sharing @lukestokes, and hopefully you will be more successful to work... :)
What s detailed report @lukestoke
It’s so nice to stay updated and know what’s happening in the witness corner, this is a detailed report and thanks for some helpful tips embedded in the report . You’re much appreciated
1m Steemit Users yay!!! Quite a milestone
Thanks for the detailed update and accurate informations. i really appricitiate your efforts 😊.
Excellent...on my last post..(today) I've posed the question "why SBD" is trading so far lower than Steem. What's your take? thanks...(Both poised to mount a bit of a rally...just a bit.)
This is truly remarkable, the reports of very complicated witnesses. I myself want to get involved in this, but this is very difficult for me. but don't worry, I've chosen it.