Very interesting post :)
I think that main problem with this approach in case of Hive is that the main reason behind demand for the (hive) token is that you want to have more power / higher vote value, weather it's related to reward pool or witness voting. If the vote value = square root of the stake, then there's much less incentivity to increase your stake -> lower demand for the token -> lower token price.
But if the reward pool would only be a small percent of the income generated by the platform - then it would make much more sense :)
Still, the whales probably wouldn't agree on this solution.
Thanks!
I agree its bit anti whale situation, but we can play with the squre root, set it to 1.5 for example... it will be a sacriface for security
The bigger chalange I see here is establishing an efficient account weight/reputations system.
Just some brainstorming on the topic :)