The current takeover attempts are possible due to 30 for 1 voting rule, see my article about steem security vulnerability. The voting rule as we have it indeed is pro centralization.
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The current takeover attempts are possible due to 30 for 1 voting rule, see my article about steem security vulnerability. The voting rule as we have it indeed is pro centralization.
yeah the 30 for 1 rule is a problem and needs to be fixed. I did not referred to the current take over. Even before HF21/22 all the Witnesses or at least sufficient majority were elected by one entity which defeats the purpose of byzantine fault tolerance mechanisms. Our margin of safety in dPOS is a 2/3 + 1 based consensus.
[https://arxiv.org/pdf/1904.07310.pdf]
Apparently the rule is there to centralize blockchain governance. So ironic witnesses repeat decentralization like a mantra.
Interesting Chart
Interesting looking thesis. I shall read it!