At the moment of writing this article, 27.9% witnesses are running a flavor of the 0.19.0 Steem blockchain, which means the adoption of the much awaited HardFork 19 is very close.
7 out of the top 19 witness are on 0.19.0 too, which means a participation of 36% in the top layer.
For those who don't know what HF19 means:
linear rewards curve: your vote will allocate from the rewards pool proportionally (until now, it was squared,
n^2which meant whales had a much, much bigger influence)vote power depleted after 10 votes / day (now it's 40 votes / day)
whales no voting experiment will cease (there is an experiment in which whales votes are counteracted by flagging, in order to level up the field)
The latest 0.19.0 release candidate, number 3, was released 5 days ago on Github. There is no official announcement yet when HardFork 1 will be scheduled, though.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
Will be interesting to see if the changes in voting power limits leads to better quality content... not so easy to get upvoted for mediocre posts if voters are limited to say 8 per day (assuming one or two blog posts themselves).
Also added a vote for you for witness!
I never use 40 votes a day though so many occasional users will finally get a say.
I think we'll have to make even better use of the vote weight slider. I already have to work with lower percentages, but if I want to keep upvoting many nice posts, I'll have to take the percentages down a bit more. With HF19, my upvotes might give more though (atleast that's the theory I think), so even with lower percentages, I'd still be able to make a small different :-)
Thank you, appreciated :)
So what does it mean exactly when part of the witnesses run HF19? The others are on HF18 I assume? When/How does HF19 hit? Does that automatically happen when over 50% of the witnesses run it, or is there a switch to be flipped (so to speak)?
There is a "switch the be flipped", it will happen starting at a specific block, announced in advance. Until that block, which is yet to be announced, all transactions are validated using the current consensus.
The adoption of the new version is important because, once we are after the block, if there is no 2/3 majority of the nodes, the hardfork doesn't get implemented. That's why I'm following the adoption curve.
Ooh I see! So we want over 2/3 of the witnesses to run HF19, before the switched gets flipped.
I hope it'll happen soon! I'm very curious to see its effects :-)
Thank you for explaining this!
I have been wondering when this would go through. What parts of it are still being debated? Is that 10 post limit the same as it used to be? I thought it was 5 for some reason.
There's no debate, AFAIK, witnesses just have to update their software.
Hi. Where can have we get more information on hardfork 19? :)
Here: https://github.com/steemit/steem/releases/tag/v0.19.0rc3
Thank you. (Although I could not understand all those techinical programming stuffs) :p
Can the whales prevent the hard fork by incentive-vising the witnesses to remain on the old chain or is this too con-spiral?
There were situations in the past when a hardfork couldn't be implemented right away (when the code was ready, that is). It took more tries until they get enough participation, so, in practice, this is possible. But for now, I see there is consensus.
Cool thank you for responding
I'm so happy now! I can't wait to see how the linear rewards work out. Thank you for the update @dragosroua!
Thanks, I'm quite excited too.
You just got my witness vote.
Thank you, appreciated :)
Thank you for the info @dragosroua...I don't understand exactly the effects but I think we will be fine. Or?
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Thanks for the update @dragosroua!
Gosteem!
That's really Amazing, Thanks for all this info
What does this mean? 4x steem power spent or something else?
I don't really coprehend linear rewards. Will this change current percentage of rewards splitted to the authors/curators?
Thanks for this post, very informative about Steemit! @dragosroua
It means that, if you vote at full power (the little slider that appear when you click "vote" controls the amount of power you give to each vote) then your voting power will be depleted after 10 votes. Right now it is depleted after 40 votes. Of course, when this is implemented, you can just adjust the slider to a lower value and preserve your voting power for more votes.
Yes, most likely and in a good way. Each vote will draw from the reward pool proportionally to its Steem Power amount. As of now, it draws
n^2which means:This was putting whales in a very privileged position.
As I can see now, this is actually a minnows-help(boost) addon. Am I correct? :)
Yes, it will help minnows see bigger and quicker rewards.
Thanks for your assistance! This is really helpful for minnows.
You're welcome!
Let's hope that this hardfork empowers and unleashes the minnows. The more that prosper on the platform, the more people will get involved, and the more STEEM will grow.
This is good for whales because their stockpile of SP and STEEM will increase in value by quite a lot.
And us minnows will also benefit with bigger payouts, so we can buy the large sized coffee ;-)
Interesting, thanks for writing it all out in terms that make sense to us non-tech types. :) #addvalueeveryday
You're welcome.
I'm still new to Steemit, 21 days and counting :-) It will be interesting to how it affects voting.
Thank you very much for this information, and your detailed explanations. I am interested in learning more about the 'no vote whale' experiment. Can you provide more details about that experiment, it's results, and what conclusions can be drawn from it?
Thanks!