Every time there's a hardfork decision it's always tricky to know exactly if and when it will become active. There is a date and time that's programmed into the hard forks so that all the servers running them will switch over at the same time, but that doesn't actually mean that on that date and time people will be running them.
In order for a hardfork to pass you need 17 of 21 witnesses to approve it. So you either need 17 of the top 20, or 16 and 1 backup witness to sign off. To clarify to sign off in this case means you have to run the version of software on the witness box. In this case it's version 0.21.0. You can see who is running it now at steemdb.com/~witnesses. When we reach 17 votes in a 21 vote cycle we have a "super majority" and the chain hard forks.
As of today I was scrolling through and realized that we have 17 of the top 20 witnesses currently running HF21.
Does this mean that with 100% certainty that it'll go into effect on time? No!
Why not? Because witnesses can change. Right now 19 of the top 20 witnesses have votes from either @freedom or @blocktrades that maintains their rank. It's unlikely that blocktrades would change his vote from witnesses voting for the change given that he and his team authored it. he could however vote for new witnesses if some witnesses in the top 20 don't support the fork. @freedom could change his/her/its vote and the lineup would look very different as well. I know personally that when I lost the freedom vote also described as freedom removed the vote I went from top witness to out of the top 20.
There's also the newcomers with @proxy.token who have managed to get 10PV worth of voting power together by aggregating a lot of the Steem Power votes into a single account from primarily the South Korean region. They too could play a significant role if they chose to vote in any particular direction regarding witnesses choosing to support the fork.
Lastly other whales can change votes, powerdown during the alt winter, or new witnesses can be voted up based on their general stance.
I'm a vocal supporter of this HF
HF21 has two parts the SPS and the EIP. The SPS stands for Steem Proposal System and diverts a portion of the rewards pool (currently valued around $500,000, five hundred thousand, dollars) into an account. The account can distribute this money to people who have submitted proposals and the community has supported them via stake weighted voting. The second part of it is the Economic Improvement Plan, which has several parts described below, but which is designed to change some of the voting patterns in the Steem Community.
EIP and SPS are both good.
SPS is good because it's an open process to anyone in the community to do any service on behalf of the community that the community finds valuable. This could be marketing efforts, programming efforts, community building, business building, or literally anything that can be turned into a post and voted on by the community. It makes the community less dependent on Steemit Inc and allows the community to dictate what work gets done based on the priorities of the stake holders.
EIP is good. EIP is comprised of 3 parts
- reward curve change that I think will have limited impact
- author:curator rewards will change from 75:25 to 50:50 which will make it more beneficial to hold Steem Power
- Free downvotes, which will help police the chain from circle jerks, stolen/unsited content, and generally unwholesome behaviors.
HF21 also comes with two smaller changes. Raising the custom json limit so that apps can submit larger transactions to the chain and also do it in such a way that they are less likely to fail. There's also a small change to when you can cast a vote and keep your full curation. Previously you had to wait 15 minutes. Now it's shrinking down to 1 5 minutes (you don't lose curation while voting after 1 5 min).
Hardfork goes live on August 27th
As all good hard forks should this one is going live on a tuesday! Assuming that the witness chart isn't truly scrambled between now and 9 days from now we'll likely see HF21 go through.
How to prepare?
If you're a backup witness you'll want to upgrade your witness. @someguy123 has been putting out details regarding upgrading via Steem in a box. Also, he's now making MIRA boxes available that cut the cost of running a witness server by 60% down to $50 a month. It's probably not a great plan to use these as the primary server for a top 20-30 witness, but they can be great backups for the top witnesses or primary boxes for the backup witnesses.
If you're not a witness consider making sure you have whatever crypto handy you're going to need in case anything goes poorly. It's unlikely the chain stops or any bullshit occurs with this one, but it can happen. Be sure to have some crypto handy in case you need it because of any interuption in service.
Be patient. It can take a little bit to get the bugs worked out, and witnesses might end up missing a lot of blocks when it first changes over. So, if you have big crypto moves to make you should probably avoid the 27th in particular.
Send good vibes. Let's all hope for a smooth transition to HF21. Send some good vibes for the chain and the price. New Steem is just over that ridge. We're almost there.
Good vibes being sent to the blockchain! 😊
LOL
The last data I had was 5 minutes, has this changed?
1 minute gives bots an unsurmountable advantage over non techy users.
Edited. I was looking at the announcement and forgot that we changed to 5 min.
The advantage isn't nearly what it was under linear rewards compared to when it was exponential. I think it hurt far more users who voted in the first 15 min who had no idea than it will help bots trying to predict what will be high value content within the first 5 min of a post.
I've been wondering how changes to the curve affected curation.
Looks like that is going sublinear, too.
More power to the powerful.
Smdh.
I don't see that selling very well among the underpowered who are where that extra power is coming from.
I like a 500mv influence cap much better.
It's 5mins, you are correct.
Thanks.
Funny that he’s a top witness that is a “vocal supporter” of the fork.
It’s actually not that funny though.
Nobodies perfect.
*Nobody's
Yeah...but if you’re going to pretend to be so knowledgeable and play top-witness, and also claim to be a “vocal supporter” of this hard fork, you should - at the very least - know what the new protocols will be, especially when assuming a role of informing the community. Right?
Or is that just too much to ask/expect out of you?
Stahp trolling facts bro!
We support truth over facts!
Stahp gaslighting me bro!
Lol, he has moved the ball where others couldn't, spelling errors forgiven!
The community spoke up to correct the error, and that may be the most we can ask.
The system works to self correct.
Where almost there, yet the steem price continue a nose dive. Does it bottom on 0.17 on it will go down further, I already prepare some extra to buy the bottom.
I do have a bit of concerns about HF21 in regards to abuse.
The free flags might increase flag abuse...but I'm not really sure about that. Maybe. Also more people might decide maybe some post I think is a good opinion piece should be flagged for whatever reason.
The change in "curation" rewards also kinda worries me. We have a huge abuse problem here. A lot of that abuse is due to whales. This is sold as being about rewarding curation, but when they say curation, they mean voting and stake. Curating as a whale is a bitch. Maybe with the change, it will become more profitable to use some kind of service that curates with your stake and pays you for it. Or maybe it will open us to even more abuse, giving all the whales even more money, for some of them to abuse the system and get paid more for it.
I'd like to see a breakdown by one of our local geniuses going full on into it and potential issues and benefits.
I like the rewarding of development though.
And perhaps the curation rewards should be changed...but I would actually have preferred if it was going to be done, that there would be more things to encourage actual real curation and discourage bots.
I also think it's a HUGE change. Maybe it should have been done in percentage changes over time to ease our way into it, and reverse it if it seemed like it was actually making things worse.
But, hey, here we are. Hope it works. We'll see how everything reacts soon enough.
Edit: Also, please support adjusting the RC system to a curve. It should be a little easier for small accounts to post, or we should start a group that delegates, and it should be harder for larger accounts to abuse without having more SP. Some of the abuse in the last year has shown that it's a bit too easy to spam Steem with not even that large of an account. If they had to have more SP to do that, that might be a bit better.
It's not good that new users hit the RC wall and for some reason a bunch of them have trouble understanding it, and it's not necessarily that easy to grow an account from scratch, so they are stuck with limited interactions for weeks or months. Or they have to figure out how to buy crypto to power up Steem...which we all probably forget how hard it was the first time.
Let everything go well.
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Change is Living. So, Welcome HF21!
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How long has it been in testing for? I've been hearing opinions on it for a while, but haven't seen any test posts. Might not be following the right people for that though
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(예) 한국어로 작성한 자유 주제 포스팅((E.g) Posting for free topic in English)
We use measurement tape everywhere and every place.
Actually it use has been garments factories and trailers.
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Thanks dear,, good read 👍👍
Well, that day is my birthday, I accept gifts by the way, lol.
Ready or not, here we go.
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I noticed on gethub the time limit on votes is going to 5 minutes.....
Am I understanding this incorrectly???
It it 1 minute???
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It is going to be 5 minutes. Seems like it's already being corrected on the post.
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Good to have this clarified!👍
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Well, for me, I guess I'll have to wait and see what happens!!!
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Still not down with HF21. Too many changes all at once, the introduction of a tax (SPS) and an arbitrary reduction in author rewards to supposedly boost prices (EIP).
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