@tarazkp - I also read @pharesim's post on witnesses and I thank you for continuing the knowledge and discussion. For my 1st 4 months on Steemit, I didn't even know what a witness was or what he/she did, or how they would impact me, etc. I think most people who join Steemit don't get involved with witnesses. It's after being here for awhile that the information starts to sink in.
I like your main direction - to open up the witnesses and break-up vote selling/sharing blocks. For this, time limits is critical, IMO. Like shareholders voting for members of the board for a corporation. I think 1x/year is good. People can change their vote during the yr also.
I also like opening it up to the top 30 positions....or only giving the top 10 positions automatic compensation and then spread it out to the remaining active witnesses.
From what I see, it appears almost impossible to start as a witness and move up to make all of their work worthwhile financially. I feel this is very detrimental to the continued functioning of Steemit.
One problem that I have in voting for witnesses is that I don't know what most of the 100+ witnesses have done or continue to do for Steemit. I just don't have the time nor the technical understanding to find this out. I do vote for witnesses that I come across in posts, etc if I feel they are making worthwhile contributions.
I'd also like to give some praise for 2 people who are witnesses who are commenting or highly mentioned on this post - and I feel are doing their best to enhance the functioning of the Steemit platform = @pharesin and @abh12345 (whose steemit witness name is @steemcommunity). There are many other good witnesses but one has to research those themselves.
To sum up, these changes that you and @pharesim and others are suggesting sound great. They may be for the benefit of the Steemit platform as a whole. But if they don't benefit the top witnesses, will the top witnesses vote for it? I think some will because they do have the whole Steemit platform best interests at heart. But will they be enough to enact changes? I don't know. We'll have to see.