I want to know what people think about an idea I had regarding Steem. No matter what you think
There is too many votes per profile in relation to "seats in the Security Council"(AKA. top 20 witnesses). In other words: each profile can vote for 30 witnesses while the Security Council has only 20 seats
.
This creates a vulnerability where a single account can put all 20 witnesses(and have 10 more votes to spare) in the Security Council if having the necessary SP. It happened today.
My Idea:
- Reduce from 30 to only 5 votes the maximum amount each profile can cast.
- Increase the Security Council size from 20 to 50 witnesses. It might make it a little harder to get a Hard Fork, but it's not impossible.
- Set an expiration for casted votes.
- Votes expire in a year or even 6 months.
- Votes can be renewed before expiration causing the expiration clock to reset.
- Proxy-delegations will not expire.
Justifications:
-
No matter how many profiles the person can have. The limit to witness vote for each profile will make it impossible not to dilute Vesting power among several profiles in order to vote for more witnesses than the limit allows.
Example:
If limit of witness votes is 5 and user with 10 SP wants to vote for 10 witnesses:
- can vote with the whole 10 SP into 5 witnesses;
- can create second profile and delegate 5 SP to it, so each of the 10 witnesses will have only 5 SP of vote instead of the whole 10.
-
Expiration for witness votes is a countermeasure against the influence of dead accounts or dead proxy-chains. Only active votes expire, so cold-wallets can still be maintained through proxies or proxy-chains where there must be an active account at the end of each proxy-chain to renew witness votes.
- Failure to renew witness votes in an indication that the owner of such account might have lost its keys.
Further thoughts:
Social Interfaces to the Steem Blockchain should make it easier to vote, renew votes or switch witnesses(the ability to easily choose which one to discard when voting for a new witness while having all the spots filled). It would be nice to receive warnings when a witness is close to expire also.
Well, those are just my ideas. Would be glad if I could get your opinions regarding them.
Sorry if I said anything stupid above.
Thank you all for your attention.
I was also thinking about the possibility to dilute witness votes instead of limiting per account. Or implementing vote dilution alongside vote limit.
- If you have
20 SPand vote for a witness, it's a20 SPfor it. - If you vote for 5 witnesses, it's a
4 SPvote for each. - If you vote for 20 witnesses, each gets a
1 SPvote.
Another Steemer(@discernente) came with some interesting ideas:
- Only profiles with high reputation can be witnesses:
- Only with reputation above 50;
- Reputation of the witness to be used as factor in voting computation;
Personally I don't like this idea as reputation doesn't say much about if the account is human or bot since there are some easy ways to artificially rise quickly the reputation index.
PS: In case you have a spare vote:
Steem is decentralized now. This kind of changes should not pass lightly.
Nothing should be based on reputation. It can be bought and is really only a representation of the amount of SP that has upvoted you in the lifetime of your account.
Just had to get this out of the way.
I like where you're going with this, and I think it could work with playing around with some of the numbers. I also like the idea of diluting (or condensing) the vote. That would essentially allow for some power balance for those of us who are lower on the totem in the SP area.
Indeed.
Interesting ideas, more thoughts are needed on this.
A change is definitely needed as I already said months ago.
Thanks for sharing,
Thanks for your feedback.
I was also thinking about the possibility to dilute witness votes instead of limiting per account. Or implementing this with the vote limit.
20 SPand vote for a witness, it's a20 SPfor it.4 SPvote for each.1 SPvote.By the way: thanks for the resteem.