It's a little different - it has something to do with percentages of votes rather than having a hard cap.
I think because of this it can have anywhere from 10-1001 witnesses. They just all need to be within a certain range of each other in overall votes to be included in the block production schedule.
I'm still trying to wrap my brain around it lol, but an example would be:
User A: 10 Votes
User B: 10 Votes
User C: 9 Votes
User D: 9 Votes
User E: 3 Votes
User F: 2 Votes
User G: 2 Votes
User H: 2 Votes
This scenario would have 4 witnesses, and users's E-H wouldn't be block producers because they are too far away in total votes from User D. If User E got up to 9 votes, User E would then start producing blocks, bringing the total to 5 witnesses.
It's a dynamic number and I hope someone can explain it better than me :)
Hi Jesta, I voted for your witness on PeerPlays please consider voting for mine "content-junkie"
I'm proxied to @roelandp at the moment - we figured it was easier to have one person doing the initial voting than all of us :)