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RE: Are You Ignorant About EOS, STEEM, and DPOS?

in #eos6 years ago (edited)

Just finished the video and I really liked it! I agree being part of something that has the potential to change the world must be awesome!

My reply is going to sound like I am blowing my own horn, but bear with me.

I think the fact there is a lot of fud is not surprising, I think we underestimate how difficult it is to understand all the concepts you have been discussing in the video if you are not actually programming the systems day in day out,
Research into crypto and understanding blockchain and how nodes work with all the different governance models that are out there, it takes a lot of time to get your head around this. For most I imagine life is to short.

Even now after watching your video, I struggle to fully understand how DPOS works, my summary would be that instead of POW where all the nodes have a say, D-POS has 21 nodes that hold all power.
If we stop there, it scares me and I can imagine a lot of people and the conclusion would be that this is too much power.

Obviously that is not all as to diminish the power of these 21 nodes there is a voting system.
What I struggle to see/ understand is how and who(m) has the power to downvote BP or decide that an account should be frozen. An attempt to answer my own question would be: I think everyone is allowed that has a wallet?

If that is the case, how can you trust people to vote on questions or issues they know nothing about, how do you avoid that the 21 nodes don’t collude in such ways there is now way for the public to find out. How did they arrive to the 21 nodes, is that a sacred number that seems to work, will there be more once EOS get’s mass adoption?

Good intent is good, but some people have a different understanding of what good intent means. As a lot of people probably have no clue how the system works they will probably be delegating their votes and this again will cause centralization?

How are fake accounts checked? Could someone create a ton of accounts to manipulate votes?

Now the part where I blow my own horn 😄, my vision for my website is to have one website that has all this data available in one place. A website that gives people an incentive to do research and share found knowledge so that it becomes clear when something is already researched and stop people from doing the same research over and over. Showing only data backed up by trustworthy resources.
Once it is clear what is factual and clearly understood we can grade crypto assets better on different aspects.
My idea for Https://cryptoowls is exactly that. I would love to hear if you like it or not.