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Steemit Basics: How do I vote for Witnesses and Why Should I? by r4fken

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· @r4fken ·
$326.60
Steemit Basics: How do I vote for Witnesses and Why Should I?
<img src="http://ransom-lawfirm.com/wp-content/uploads/2015/07/witness.jpg">
<br><br>
After almost a week on Steemit, I have a bunch of questions. Let's start with the first one!
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vote details (127)
@fiveboringgames ·
I don't understand the question, what is  witness?
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@r4fken ·
We'll know as soon as someone explains it here. ;)
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@lafona ·
$0.03
As you may be aware steemit (the website) uses on a unique type of database(blockchain). This database is maintained by a group of people (witnesses). Essentially, everytime you vote or post it is sent as a transaction to the database. The witnesses run software that checks to make sure your transaction is valid, and  , if so, updates the database to reflect your transaction. Since this is a crucial task, witnesses with the most trust(votes) are given the most opportunities to update the database. Hope this helps.
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vote details (1)
@r4fken ·
So, it's basically another word for "miner"?
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@lafona ·
It is like a miner. The main difference is that, instead of hashes deciding who goes next, it is the votes that decide.
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@miacameron · (edited)
$0.03
Here is the link to vote:

https://steemit.com/~witnesses
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vote details (3)
@r4fken ·
Thanks, that's one part answered! :)
Now, what am I voting for?
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@miacameron ·
This is from the 44 whitepaper report :

Consensus in Steem
Conceptually, the consensus algorithm adopted by Steem is similar to the consensus
algorithm adopted by companies throughout the world. People with a vested interest in the
future value of Steem vote to select individuals responsible for including testimony in the
public record. Voting is weighted proportional to each individual's vested interest.
In the world of cryptocurrencies, the public record is commonly referred to as a blockchain.
A block is a group of signed transactions.
With Steem, block production is done in rounds. Each round 21 witnesses are selected to
create and sign blocks of transactions. Nineteen (19) of these witnesses are selected by
approval voting, one is selected by a computational proof-of-work, and one is timeshared
by every witness that didn’t make it into the top 19 proportional to their total votes. The 21
active witnesses are shuffled every round to prevent any one witness from constantly
ignoring blocks produced by the same witness placed before.
This process is designed to provide the best reliability while ensuring that everyone has the
potential to participate in block production regardless of whether they are popular enough
to get voted to the top. People have three options to overcome censorship by the top 19
elected witnesses: patiently wait in line with everyone else not in the top 19, purchase
enough computational power to solve a proof of work faster than others, or purchase more
SP to improve voting power. Generally speaking, applying censorship is a good way for
elected witnesses to lose their job and therefore, it is unlikely to be a real problem on the
Steem network.
Because the active witnesses are known in advance, Steem is able to schedule witnesses to
produce blocks every 3 seconds. Witnesses synchronize their block production via the NTP
protocol. A variation of this algorithm has been in use by the BitShares network for over a
year where it has been proven to be reliable.
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vote details (3)
@peacekeeper ·
BECAUSE.......

FACEBOOK has 1.65 billion monthly users and 1.09 billion daily active users on average.
The average Facebook user has 155 friends.

TWITTER has 310 million monthly active users.
Of those 83 percent are active users on mobile.
Every second, 6,000 Tweets are sent.

INSTAGRAM has more than 400 million active monthly users.
Of its user base, 75 percent are outside the U.S.
Users have shared more than 40 billion photos.

PINTEREST has 100 million active monthly users.
The average PIN is repinned 11 times.
In 2015 , 3.78 billion DIY Pins were saved Worldwide.
The Pin totaled more then 1.5 trillion recommendations annually.

LINKEDIN has more than 433 million users in more than 200 countries.
Of those, there are 100 million active monthly users.
More than 128 million users in the U.S. alone.
One in every three professionals in the world is on LinkedIn.

Just imagine if you are starting at the ground floor with the next big thing.

These statistics were provided by HOOTSUITE.

I don't know of ANY better reason for the WHY!
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vote details (3)
@acidyo ·
How did this answer anything about witnesses?
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@r4fken ·
I downvoted him. Spammer.
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@r4fken ·
LOL now he's downvoting me :D
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@burmik123 ·
Some BREAKING news! https://steemit.com/steemit/@burmik123/breaking-news-of-steemit  
It is Interesting.
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