Excellent update! Thank you so much.
It’s akin to upgrading an airplane engine mid-flight while making sure there are no hiccups and all controls work as usual.
That's a perfect description to help people understand the complexities involved here. Thank you.
Communications like this, though they take time and effort away form doing the actual work of coding, are critically important to the community of investors, authors, witnesses, and participants who support all the underlying value which makes this worth doing in the first place. Thank you for demonstrating how much you value us by spending your limited, valuable time on this communication.
Indeed, that was a great comparison! I hope this plane will keep on flying without any shuddered :D
So Luke, you tell me please, about the last issue Dan raised on STEEM I am aware of?
Someone owns 51% of the STEEM chain, is that true?
AT THIS POINT SEEMS LIKE THE ELEPHANT IN THE ROOM 2 ME
Can you clarify what you mean by “owns the STEEM chain”? Steemit, inc does own quite a bit of STEEM tokens and they aren’t currently voting for any witnesses though, technically, nothing prevents them from doing so (other than economic rational self-interest).
This has been discussed at length by witnesses so I wouldn’t call it the elephant in the room. Some ideas thrown around include making their accounts non-voting accounts and adjusting the savings system to have a variable lock-up time so their tokens could be locked up via smart contract. There’s talk of them using their holdings to support SMT launches, but that’s speculation at this point. The main reason for the funds (as far as I know) was to pay for the onboarding faucet, but now that we have delegation (and the possibility of some form of account mining in the future), it’s a little less clear what the funds are for.
Clarifying what those are used for should be priority one if you ask me.