So I undertand how on steem witnesses are selected and how we are using more than 21.
I checked a block explorer and was able to find all the producers and noticed that only about 60 or so are earning even though a few hundred seem to exist.
can someone explain to me how block producers are chosen and how other than the 21 main producers earn or become part of the round of block producers.
also how is this different from steem and bitshares and why were these differences chosen.
In EOS, only the top 21 BPs produce blocks. They all get the same revenue for producing these blocks.
Then all BPs back BPs included get paid proportional to their number of vote.
They must have a minimum of 0.48% of vote to receive any pay.
It looks like this.
https://docs.google.com/spreadsheets/d/1nbAQv9QEuKyCOBJgH72g09wcUObzfLbS7r-lA3awLCw/edit#gid=1547399334
https://eostracker.io/producers
Ah ok, so the others do not even need to tun a server?
What is the reason they are not circled in?
The others have their set-ups on standby in case one of the 21 is unable to produce a block or gets voted out. At least that's my general understanding.
My understanding in Steem is, instead of 21 full time BP's, there are 20 with the standby's rotated in to slot 21. https://steemit.com/faq.html#What_are_Steem_witnesses
I'm not exactly sure if they have to run a server. I wonder if there would be a way to know whether or not if they run one besides having the up-to-date blockchain but that doesn't mean their server would have the required power to produce a block.
To answer your second question, I think it's a question of efficiency and might also be tied to the fact that backup BP might not have to run a server.
I think Steem would benefit from having the witness be paid proportional to their amount of votes, not just so for the backup witnesses as it is now. This would create more competition among the top 20.
Check out the post "EOS Block Producer Voting Guide" on Medium: https://medium.com/coinmonks/eos-block-producer-voting-guide-fba3a5a6efe0
How it Work You can Check Here
Nice post sir
What is a bounty exactly?
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dont know anything about it