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RE: Steem Consensus Witness Statement: Code Updated

in #steem5 years ago (edited)

I have strongly advocated for the normalization of witness votes as you describe, by depleting the VP of witness votes 100%. I note that solution would not only eliminate the danger of the founder's stake executing instant governance of Steem, but would reduce the 30x multiplication of the influence of large stakeholders over witnesses as well.

Perhaps this route was taken because large stakeholders other than @justinsunsteemit were not impacted. While I understand the necessity of securing the decentralization of the blockchain, I note that the multiplication of the influence of large stakeholders 30x on witnesses is a dramatic reduction of decentralization.

In the near future, I suggest normalizing the influence of stake by effecting 1 Steem = 1 Witness vote, to end the dramatic inflation of influence presently granted substantial hodlings of stake, which is exactly why the founder's stake, now held by Tron, presents the centralizing potential noted.