The Witness Voting Engagement Report - 2018-07-21
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:
34.44
That's up 1.7% since last month, with a 2% increase in new accounts.
The percentage of VESTs actively voting is:
70.68%
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 (493.148 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 | 1,079,765 (2%) | 100% | 208,517 (1.1%) | 100% |
| > 100,000 VESTS | 38,948 (0.9%) | 3.61% (-1.1%) | 202,980 (1.1%) | 97.34% (0%) |
| > 0 Posts | 493,474 (3.3%) | 45.7% (1.3%) | 155,071 (1.1%) | 74.37% (0%) |
| > 100k & > 0 Posts | 29,552 (1.4%) | 2.74% (-0.4%) | 152,191 (1.1%) | 72.99% (0%) |
| Active | 61,198 (-9.9%) | 5.67% (-11.5%) | 76,764 (17%) | 37.82% (19.2%) |
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 | 53,061 (3.9%) | 4.91% (1.9%) | 147,376 (0.9%) | 70.68% (-0.1%) |
| > 100,000 VESTS | 13,415 (2.6%) | 34.44% (1.7%) | 146,841 (0.9%) | 72.34% (0.2%) |
| > 0 Posts | 47,503 (4.3%) | 9.63% (0.9%) | 118,971 (1%) | 76.72% (0.1%) |
| > 100k & > 0 Posts | 12,852 (2.8%) | 43.49% (1.4%) | 118,462 (1%) | 77.84% (0%) |
| Active | 17,800 (-8.8%) | 29.09% (1.2%) | 63,436 (26.3%) | 82.64% (4.8%) |
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 | 11,885 (41.7%) | 22.4% (36.3%) | 27,811 (-5.7%) | 18.87% (-6.5%) |
| > 100,000 VESTS | 3,287 (51.3%) | 24.5% (47.4%) | 27,680 (-5.8%) | 18.85% (-6.7%) |
| > 0 Posts | 11,439 (42.5%) | 24.08% (36.7%) | 27,284 (5.9%) | 22.93% (-6.9%) |
| > 100k & > 0 Posts | 3,245 (51.8%) | 25.25% (47.7%) | 27,156 (6.1%) | 22.92% (-7%) |
| Active | 3,658 (41.9%) | 20.55% (55.6%) | 12,232 (6.1%) | 19.28% (-16.1%) |
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:
jerrybanfield
wackou
steempty
roadscape
arhag
datasecuritynode
theprophet0
kushed
tdv.witness
bue
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:
- 2018-06-24
- 2018-05-18
- 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
Thank you for this report, Lucas! First time I noticed it, although I see it's on a monthly basis. This is more revealing to me on more than the witness voting patterns. Of course, since I haven't queried such information myself, I am at a stage when I'm wondered by some facts probably well known (like the fact that only 3.61% of all accounts have over 100k VESTS).
Yes, the token distribution is not as good as it could be. Few accounts hold most of the funds. Is this just the Pareto principle and ultimately unavoidable? I don't know.
@lukestokes, this Engagement Report is really appreciable because this will really going to encourage Steemians to look towards the Witness aspect because, Witnesses are the Backbone of the Steem Blockchain and ignoring this aspect means that still the Knowledge Transfer need to be done.
Engagement Rate - 34.44% and Active Vests - 70% reflects the effectivity because it's increased and expanded from the last phase so it's an appreciable aspect and we hope that these percentages will increase over the time.
I have not completed all the 30 Witnesses because i am particularly looking for the Witnesses who are really engaging in the Community because Engagement is really vital and important aspect for sure.
And specially Newbies should know the Importance of the Witnesses because, everyone should hold the same knowledge about the Steem Economy so that all the flow of actions in Steem Economy will reflect the effectiveness.
Wishing you an great day and stay blessed. 🙂
Hello @lukestokes
It is a thing of immense joy to me to know that our voting engagement is on steady increase. Thanks for your consistency in making this important report.
Regards
@eurogee of @euronation and @steemstem communities
thanks for sharing this. I have learned many things from this post.Great post from a great man.Thanks a lot
thanks hun
I just recently went back and adjusted my voting. I had it setup with a proxy, but as I have started following more witnesses on the platform, I decided I wanted to have a more active say in whom I support. I made sure I manually voted for you among others!
Thanks and thanks for being involved in voting!
Excellent post on voting activity. Really wish that there were improvements and more awareness for all users to really use their vote. Not their fault if they do not realise whats happening behind the scenes.
If all the unused votes were cast how effective would they be in reality compared to the likes of the accounts with the largest amount of VESTS?
Thanks again for great insight!
I liked your post, I have to learn something from your post. you do will be educational post everyday