RE: Decentralization, Some Thoughts on Toilet Paper, and Maybe Some Art If I Finish It

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RE: Decentralization, Some Thoughts on Toilet Paper, and Maybe Some Art If I Finish It

argsolver in #life • 5 years ago

@nonameslefttouse the implementation of a REDPOS protocol would indeed need a very well thought REP system (account age should be a parameter, of course). I am aware that the current REP on STEEM was programmed as a bandaid because @blocktrades explained that point, he is also working on a better REP system.

On the other hand, a simple hardfork using the same DPOS protocol is a very short term meassure. The need to evolve into a REDPOS surges because the DPOS flaws are already exposed. But REDPOS is just a philosophy, a guideline. The actual implementation requires good development.

I'm not focused on development, just focused on trying to explain why a STEEM hard-fork on the same DPOS philosophy is not a long term solution for a social blockchain.

5 years ago in #life by argsolver

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nonameslefttouse 5 years ago (edited)

There was only one chance for this chain to see a hostile takeover and now that's done. The cost would be so far out of reach for the next one that they wouldn't achieve anything by doing it. The main thing in my mind is cost. The expense of purchasing the top slots needs to be so far out of reach that it becomes pointless to even bother. Any changes will have to factor in 'cost' as the main deterrent. Even now, if Justin takes his stake and slowly backs away, selling as he goes, I don't think anyone else would try, because they'd have to buy from the market and that would only get more and more expensive as they go. DPoS is fine, when the cost to take over is extreme. Keep in mind though, I'm just a writer/artist/entertainer here. The technical stuff isn't my forte. I just have a basic understanding and nearly four years of observational experience. Business savvy and qualified to lead. That's about it.

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argsolver 5 years ago

DPoS is fine, when the cost to take over is extreme.

It think DPoS suits Bitshares better, but BTS wasn't designed as a "social blockchain". STEEM as a social blockchain created human agreements that were not formally coded. (The ninjamined stake is not supoused to vote, it's just for chain development financing, exchanges are not supoused to vote).

Also it is evident that no 4 years old human community wants to be ruled by 0 experience fake "witnesses" (sockpuppet accounts of 1 entity).

So, nope, I don't agree DPoS is fine for a social blockchain. Needs to evolve.

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nonameslefttouse 5 years ago

I agree a few tweaks could lead to a more productive future.

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