Steem 0.12.0 - Four Days Until The Next Hardfork (In Case You Missed It!) All The Details Listed Inside! by groovy

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steemit · @groovy · Jul 22 '16

$0.14

Steem 0.12.0 - Four Days Until The Next Hardfork (In Case You Missed It!) All The Details Listed Inside!

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<p><img src="https://www.steemimg.com/images/2016/07/21/Steem8ce4d.png" width="250" height="250"/></p>
<p><br></p>
<p>&nbsp;This hardfork is scheduled for 2017-07-26T15:00:00 UTC (11:00:00 EDT).This hardfork introduces a number of changes that effect how root comment payouts work. They should not impact how normal users use Steem.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/176">#176</a></h3>
<p>Each root level comment has a reward weight which impacts the end payout of the post. We are targeting 4 posts in 24 hours. Your first 4 posts in 24 hours will not be penalized. After that, they weight is decreased from 100% based on your average posting frequency. Having a frequency just barely higher than 1 every 6 hours will have very little impact, while spamming will be penalized heavily. This change is aimed to increase the quality of content at the cost of quantity.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/177">#177</a></h3>
<p>Each discussion goes through a two stage payout. The first one is nearly identical to what currently happens on a new discussion except that we are weighting payout times by 12 hours instead of 24. This should cycle through currently trending content quicker. There is a second voting period set to 30 days after the first payout. This should help posts that don't have immediate viral success accumulate votes and have more consistent payouts in the long run. After the second payout a discussion becomes "frozen". The discussion is no longer editable and new replies are disabled. Users can still vote on comments in these discussions as a "nod" to the author without costing their posting power or awarding reward shares.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/178">#178</a></h3>
<p>There has been a lot of controversy surrounding liquidity rewards. We are refraining from making a judgment at this point but want to spend more time reviewing their impact. We do believe that in their current form the liquidity rewards are simply too much for the value thy provide. As such, we are temporarily disabling liquidity rewards until we can design a better solution. In the meantime, a transaction fee free market should be incentive enough for users to continue to use the Steem internal market.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/179">#179</a></h3>
<p>The average block size calculation is too high. We are reducing the minimum block size limit from 128k to 64k and changing the average block size threshold from <code>max_block_size / 2</code> to <code>max_block_size / 4</code>. The net result is that the average block size threshold can be 4 times smaller. If witnesses chose to vote this way, it will make triggering transaction bandwidth limits easier, which is currently not applying except in the most extreme circumstances.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/184">#184</a></h3>
<p>Fixed a bug in the cli wallet that incorrectly allowed the wallet to attempt to broadcast an update account operation from a locked wallet. The broadcast would fail but created a poor user experience.</p>
<h3>Issue <a href="https://github.com/steemit/steem/issues/186">#186</a></h3>
<p>Added recovery operations to account history so they can be tracked more easily.&nbsp;</p>
<p><img src="https://s20.postimg.org/qzsvvhj71/postimage.gif" width="474" height="374"/></p>
<p><br></p>
<p>Source: https://github.com/steemit/steem/releases</p>
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👍 alexandra-renee, norbu, bryan-kho, pigatron, jayjustmay, dog, kaj-huisman, cosmin, clonewarz, berkut, cybercodetwins, rnobrega, pinklee, kirreall, imran, xem, craigslist, dhadha, kare2newman, daniya143, khanrabbee, kanishkag, ciklop2, alexand27, anivagreen, ahmadraza9427, dimon14, seg009

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properties (23)vote details (28)

voter	rshares	pct
dog	522,517,314	100%
kaj-huisman	499,734,260	100%
alexandra-renee	86,816,903,151	100%
norbu	30,811,403,542	100%
xem	79,574,801	100%
bryan-kho	2,725,727,712	100%
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kirreall	115,966,846	100%
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pigatron	2,006,469,575	100%
cybercodetwins	205,083,059	100%
imran	108,107,432	100%
craigslist	75,264,812	100%
dhadha	62,709,500	100%
seg009	1,279,186	0%
daniya143	62,495,677	100%
kanishkag	62,396,447	100%
ciklop2	61,264,737	100%
kare2newman	62,504,790	100%
khanrabbee	62,461,023	100%
alexand27	59,759,906	100%
anivagreen	59,755,069	100%
ahmadraza9427	59,709,571	100%

@cybercodetwins · Jul 22 '16

great thoughts you shared!

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@hyiparena · Jul 22 '16

Useful information for me, thank you.

👍 groovy

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@jayjustmay · Jul 22 '16

These are interesting changes and though I can see the knee-jerk reaction by some to be negative I think this is ultimately a good bundle of changes. It's going to force people to begin to forge an avatar of their own which cliques would form and bla bla blah... this is going to sound weird but basically I think steemit will eventually wind up functioning similar to Youtube in some ways with regard to building a following and producing quality, monitored content. Sounds like a stretch perhaps but wait and see it happen.

👍 groovy

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@groovy · Jul 22 '16

Yes , and I think this will force  people to do more curating and replying which in turn will give everyone higher income so the idea of quality vs quantity no longer need be a discussion.

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@phanie90 · Jul 22 '16

Thank you for the information!

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