It's a nice statement, and probably a pretty obvious one -- but statements are only statements; and there's no real security to be had in there.
I'm pretty ignorant of the underlying code base, but wouldn't it be more effective to propose a hardfork that would eliminate the possibility of even being able to hijack funds (and not just for Steemit's accounts -- but for everyone)?
By hardforking the chain, you can make ANY changes to the code as it is, so there is no real way to eliminate the possibility as anything is up for changing with a hard fork, but it would still take witness approval, which is what would stop this as this would probably lose everybody's confidence in steem and witnesses (earning steem) probably don't want to make their earnings worthless.
Makes sense. If you're able to re-write the code, then just about anything is possible, I suppose.
Thanks for the response.
No problem! Certainly it is so in a 'Code is Law' situation!
The only way that the possibility even exists is to implement a hardfork, and the hardfork would need to have super-majority (17/21) support from the witnesses.
There isn't really a way to do a hardfork that prevents witnesses from doing another hardfork.
I guess that makes sense. If launching a hardfork is essentially just getting everyone congregated onto the next iteration of the chain -- the I suppose you could rewrite the rules however you'd like.
If that's the case -- then wouldn't it also be possible to roll-back the chain to before the funds were powered down, and then go after the funds?
You'd think that the best way to secure the funds would be to leverage the influence that comes with the stake and ensure that responsible witness are in (or remain in) top slots -- rather than scattering these funds all over the place...
If there was a rollback, that would affect other user's balances as well - so that would not good.
Steemit has enough stake to unilaterally choose the witnesses themselves if they decided to use it.
Which sort of makes pointless the whole concept that
An alternative would be for them to vote to replace witnesses, which while I can't speak for them, is something I believe they would prefer to avoid doing
Using their stakes in such manmer would simply signal the end of the entire steem Blockchain .
As it is, the steemit team need to comply .otherwise witnessesay as well start packing their bags and moving to other blockchains.
Users will become distressed as well and start powering down more.