On the Hive blockchain, witnesses serve the role of validating signatures and timestamping transactions by including them in blocks. A block is any group of transactions (posts, votes, transfers, etc) that update the state of the database.
Witnesses are generally expected to manage a reliable block-producing node, implement a failover system, maintain a public seed node, tune blockchain operating parameters, publish correct price feeds, author/discuss improvement proposals, review code changes, and be active! Some contribute to core repositories. Some fund the development of other apps and infrastructure projects.
Every round of block production begins with the shuffling of 21 witnesses: the top 20 witnesses (by vote), plus one backup witness. Each is given a turn to produce a single block at a fixed rate of one block every 3 seconds. If a witness does not produce a block in their time slot, then that time slot is skipped, and the next witness produces the next block.
So basically its another name for a staker/validator, who run the network by processing transactions and other tasks then? or is there a difference? Also, what does APR refer to on the Witness list? I really wish HIVE did not make things so complicated, seems like their documentation has some info missing or not detailed enough explanations.
Thanks for the very informative post though, I really appreciate you taking the time to write that.
You're welcome.
BTW, I noticed I miss your witness vote 😢
Do you mind casting one to me? It would be much appreciated!
Hi arcange, what is a witness vote?
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On the Hive blockchain, witnesses serve the role of validating signatures and timestamping transactions by including them in blocks. A block is any group of transactions (posts, votes, transfers, etc) that update the state of the database.
Witnesses are generally expected to manage a reliable block-producing node, implement a failover system, maintain a public seed node, tune blockchain operating parameters, publish correct price feeds, author/discuss improvement proposals, review code changes, and be active! Some contribute to core repositories. Some fund the development of other apps and infrastructure projects.
Every round of block production begins with the shuffling of 21 witnesses: the top 20 witnesses (by vote), plus one backup witness. Each is given a turn to produce a single block at a fixed rate of one block every 3 seconds. If a witness does not produce a block in their time slot, then that time slot is skipped, and the next witness produces the next block.
You can see the witness list here
You can see the live block production [here)(https://hive.arcange.eu/schedule)
By voting for a witness, YOU choose which ones you trust to ensure the security of the blockchain.
So basically its another name for a staker/validator, who run the network by processing transactions and other tasks then? or is there a difference? Also, what does APR refer to on the Witness list? I really wish HIVE did not make things so complicated, seems like their documentation has some info missing or not detailed enough explanations.
Thanks for the very informative post though, I really appreciate you taking the time to write that.
Posted Using LeoFinance Beta