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RE: New STEEM Witness @fbslo [My Witness Thread]
Hello fbslo and Steemians,
I am new to Steemit and saw your post. What is a witness? I have been trying to figure it out and can't. Can someone please explain what it is? Thanks you so much.
May the steemitforce be with you.
Keep steeming ahead,
The Steem blockchain requires a set of people to create blocks and uses a consensus mechanism called delegated proof of stake, or DPOS. The community elects 'witnesses' to act as the network's block producers and governance body. There are 20 full-time witnesses, producing a block every 63-second round. A 21st position is shared by backup witnesses, who are scheduled proportionally to the amount of stake-weighted community approval they have. Witnesses are compensated with STEEM Power for each block they create.
https://steemit.com/faq.html#What_are_Steem_witnesses