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Announcing Steem 0.14.4 . Shared DB Preview Release by steemitblog

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steem · @steemitblog ·
Announcing Steem 0.14.4 . Shared DB Preview Release
<div class="pull-left">

http://community.verum.com/Images/sneak-preview.png
</div>

Today I am happy to announce a [preview release of Steem powered by our new Shared Memory database](https://github.com/steemit/steem/releases/tag/0.14.0-shared-db) architecture.  We previously [introduced this as Graphene 2.0](/steem/@steemitblog/steem-developer-update-graphene-2-0), but have chosen to rebrand it as a separate and fully independent Database library named [ChainBase](https://github.com/steemit/chainbase).

This release should be *feature complete* and could in theory be a fully functional replacement for all Steem nodes.  We are releasing it as a preview to get some extra testing before migrating over into the official repository and making it a highly recommend update.

The new [ChainBase repository](https://github.com/steemit/chainbase) is a dependency free implementation of the core database technology that powers this latest preview release of Steem.  The idea is that any blockchain (or non-blockchain project) that needs a fast, efficient, version controlled, nested-transactional database can benefit from this library.   In particular, there is no dependency on [fc](https://github.com/steemit/fc) or [steem](https://github.com/steemit/steem).  There is also no blockchain logic in this library which makes it politically neutral for any blockchain to adopt.

The benefits of this release include:

1. Faster Startup / Shutdown Times
2. Less frequent database corruption (less replay)
3. Less frequent blockchain corruption (less resync)
4. One step closer to multiple processes sharing same memory (more web clients per computer)

While most Steem users will not see any benefit from this release, those of us who provide the infrastructure will greatly appreciate these updates.   Now that this migration is complete, we can begin to build new features that will benefit everyone.

Blockchain Features on the Short Term (this year) roadmap include:

1. Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay 
    f. Other properties that are currently hardcoded

2. Curation Guilds - allow people to pool and share voting power 

We are not advocating to change any blockchain parameters, but we respect that these things should be subject to community approval.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 552 others
👎  
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vote details (617)
@alexpmorris · 
The graphene 2.0 link in the article didn't work.  maybe you meant this one?   https://steemit.com/steem/@steemitblog/steem-developer-update-graphene-2-0
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@bacchist · 
This sounds like a great step forward. Thanks for all of your work.

As a practical matter... how would the community vote on these parameters? Would witnesses vote on these parameters, or would each individual account?
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@bacchist · 
I have a very grave concern about changing the vested withdrawal rate.. Essentially, SP balances represent debt in the same manner as SBD... There has been a lot of concern raised about the debt load of SBD, but a meaningful change in the SP withdaw period would present a much greater problem.
👍  
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vote details (1)
@snowflake · (edited)
The only purpose for a long 2 year withdraw period is to prevent the highly inflated steem to be dumped on the market, if you remove the inflation ( which is totally unnecessary I might add) the lock time period could be 48h and the price of steem wouldn't be impacted at all.

>would present a much greater problem

What did you have in mind?
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@bacchist · 
I also have lost faith in curation guilds... I have been a part of more than one... Essentially they have the tendency to result in the concentration of votes and voting power. To the extent that they are successful promoting the specific content they are designed to service, they create new gaps... new cracks for other users to fall through.
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@christoryan · 
This is great news! Thanks @steemitblog upvoted and resteemed!
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@contentjunkie · (edited)
$0.07
"Curation Guilds - allow people to pool and share voting power"

IMHO This curation guilds thing just lowers the value and incentive to build Steem Power, encourages sock accounts, makes things more confusing for mainstream users and is  a waste of resources that could be better spent on bringing more basic social functionality to the site.

I understand that these features make a big difference under the hood for developers but please throw us a bone on some new front facing features.

User registration and retention has stagnated for months. The price is in steady decline. Morale is getting pretty low in the trenches and everyone is clamoring for features that improve the user experience.
👍  , , , , , , , , , , , , , , , , , , , ,
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vote details (21)
@dantheman ·
$0.10
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@contentjunkie ·
$0.07
Eagerly anticipating!
👍  , ,
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vote details (3)
@taoteh1221 · 
Wow man, I was sooo close to giving up on steem as a glorified scam. Thanks so much for putting some value back in everyone's investments and curation time. This is some kick ass shit for real. Great job! :-)
👍  
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vote details (1)
@matrixdweller · 
SP still accumulates faster when pooled in one account.
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@merej99 · 
I completely agree about the curation guilds.  In my personal opinion, we need to get back to taking personal ownership of our votes, especially for content.  There is too much opportunity for nepotism and no matter how hard they try, they're still going to miss great posts - and people will still be disgruntled because they weren't noticed.
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@craig-grant · 
curation guild is important for steem power distribution
👍  ,
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vote details (2)
@the.masses · 
I agree 100%! I have been into bitcoin and blockchain for several years now and still have a hard time grasping the breakdown. I understand it mentally, thank God, but tend to focus on the smaller things that may not matter as much..
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@timcliff · (edited)
$0.04
I disagree that curation guilds are a waste of time / bad idea. Curation guilds are a highly needed tool to help the community work together to better allocate whale voting power. This helps to address one of the core issues that is impacting user retention.
👍  , , , ,
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vote details (5)
@contentjunkie · 
I could be wrong but does it still not erode value and incentive to accumulate SP? Doesn't this incentivize the accumulation of many small accounts to latch onto a guild?
👍  ,
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vote details (2)
@snowflake · 
If the vesting withdraw period is reduced very significantly, the distribution of steem power will happen much faster and so curation guilds will quickly become useless.
👍  ,
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vote details (2)
@develcuy · 
"Reducing the Inflation Rate" is what other projects were not able to realize and fix early, so they just killed themselves. Hopefully it seems to not be case for STEEM :D Congrats! Now please tell us how we can help you get it done. Can't wait to see it happening!

-- @develcuy
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@freedomengineer · 
allowing eachother to free up vests sooner than previously agreed on would be a 25 million dollar mistake. I agreed to lock my steem in because i saw that there were other long term investors in Steem. So there you go... you know how i will be voting.
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@jamesbrown · 
> Blockchain Features on the Short Term (this year) roadmap include:

    Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay
    f. Other properties that are currently hardcoded

-------------------------------------------------------------------------

Things might start to get interesting around here...
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properties (23)
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vote details (5)
@sponge-bob · 
So does this mean I can't buy discounted Steem anymore?
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vote details (1)
@jrcornel · 
This is great news! The issues we are opening up for vote are some of the things the community has been complaining about the most over the past couple months! Thank you for listening. Looking forward to some welcome changes! :)
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vote details (1)
@klye · 
This is great news! 

Thanks for an update Steemit.
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vote details (2)
@linkback-bot-v0 · 
This post has been linked to from another place on Steem.


  - [Advanced Steem Metrics Report for 28th October 2016](https://steemit.com/steemit/@ontofractal/advanced-steem-metrics-report-for-28th-october-2016) by @ontofractal

  - [📝 Анонс Steem 0.14.4. Превью релиз распределенной базы данных (перевод статьи @steemitblog)](https://steemit.com/ru/@rusteemitblog/anons-steem-0-14-4-prevyu-reliz-raspredelennoi-bazy-dannykh-perevod-stati-steemitblog) by @rusteemitblog

  - [good-karma witness update - 29th October, 2016](https://steemit.com/witness-category/@good-karma/good-karma-witness-update-29th-october-2016) by @good-karma

  - [Let me tell you again, HOLD YOUR STEEM! We are about to be stinky rich!](https://steemit.com/money/@senseiteekay/let-me-tell-you-again-hold-your-steem-we-are-about-to-be-stinky-rich) by @senseiteekay

  - [Announcing Steem 0.14.4 프리뷰 릴리즈](https://steemit.com/kr/@morning/announcing-steem-0-14-4) by @morning

  - [Presentando un Avance de Steem 0.14.4 . Base de Datos Compartida](https://steemit.com/spanish/@traducciones/presentando-un-avance-de-steem-0-14-4-base-de-datos-compartida) by @traducciones

  - [@Dan is alive, long live the Dan!](https://steemit.com/steemit/@chitty/dan-is-alive-long-live-the-dan) by @chitty




Learn more about and upvote to support [**linkback bot v0.5**](https://steemit.com/steemit/@ontofractal/steem-linkback-bot-v0-5-the-reddit-awareness-release). Flag this comment if you don't want the bot to continue posting linkbacks for your posts.

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properties (22)
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@n-ur ·
$0.61
when can we have a bookmark feature?
👍  
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vote details (1)
@n-ur · 
found it on busy.org frontend
properties (22)
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@nextgencrypto ·
$0.48
I'm sure "allowing the community to vote" really means allowing these parameters to be controlled by the 19 witnesses who will do whatever Dan and Ned tell them to do out of fear of losing their spots.  Correct?
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vote details (6)
@laonie · 
Correct.
properties (22)
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@snowflake · (edited)
My take is that Dan and Ned want to let the 19 witnesses decide out of fear of being pointed fingers at personally. They most likely want change too otherwise they wouldn't have proposed a vote in the first place.
I get your point though but I don't think that every member of the community should be able to vote on these decisions. Many people have no idea how the system actually works, 90% of people I have interacted with think that steem power gives you interest( crazy I know) I much prefer witnesses which are technically knowledgable about steem to make these decisions.
I encourage witnesses to have a look at my recent posts 
https://steemit.com/saving/@bobsunday/price-will-continue-downward-unless-we-make-a-simple-change#@snowflake/re-charlieshrem-re-bobsunday-price-will-continue-downward-unless-we-make-a-simple-change-20161024t234409300z
https://steemit.com/saving/@bobsunday/round-2-community-organized-rescue-mission#@snowflake/re-timcliff-re-snowflake-re-timcliff-re-bobsunday-re-bobsunday-round-2-community-organized-rescue-mission-20161026t190225800z
https://steemit.com/steemit/@timcliff/attention-sharks-there-is-blood-in-the-water-are-you-ready-to-invest#@snowflake/re-luminousvisions-re-snowflake-re-luminousvisions-re-timcliff-attention-sharks-there-is-blood-in-the-water-are-you-ready-to-invest-20161026t210446700z

I explained in details why I think reducing inflation rate to the lowest possible is important,why reducing the vesting withdraw period to a minimum is also very important and why the current high inflation rate and vesting withdraw period serve no real purpose other than undermining the system as a whole.
I also explained why the more coins is being issued the more difficult it will be for the price of steem to increase in the future which means the more difficult for the rewards on the platform to increase hence why the steem inflation rate should be reduced at the lowest possible.




__Here is why only reducing slighly the inflation rate and the vesting withdraw period would make absolutely no difference.__

- There would still be unnecessary and exponential downward pressure on the price of steem
- The reverse- split would still have to occur
- Users would still have the illusion that they receive VESTs for being powered up ( this is bad for many different reasons, for example users think that their influence grows naturally without doing anything nor buying any steem, so they buy less and curate less.)
- If the inflation is say 40% speculators would still be wary and reluctant to enter the market
- Users participation would still be restrained by an inconvenient lock time period.
- The steem power distribution wouldn't be much faster as there would still be few buyers if the inflation is say 40%.
- The platform would still be confusing for most people to understand ( especially investors) .
- Steemit would still have this reputation of being this inflationnary ponzi currency and people would still want to sell it instead of holding it.


What steemit needs right now is interest from the crypto sphere, especially traders and investors. Speculation is everything in crypto, it's what gets a project like ETH to go from a few millions market cap to a billion, it's what gets you big investors pay attention. For this you need a currency with the lowest inflation possible and you need a very short time lock period so that volume can increase, more people can participate and distribution can happen faster.. Today if an investors want to buy say  1 000 000$ worth of steem he won't be able to do so without sending the price  sky high which means he would pay a premium all the way up. Volume is key if you want big investors to enter the market. Volume creates confidence, there is a reason John McAfee made a remark early on about the lack of volume. Steem should aim at reducing it supply long term not increasing it. When the supply goes down the price goes up, if bitcoin was using graphene it would be perfectly suited for such a platform because it would allow the price to grow organically which means rewards would grow as more users use it.
Steem would have to burn more coins that it creates to pay for rewards ( promoted features and more) but it is totally possible to have a decreasing supply long term and that's what steem should aim for, certainely not increasing it crazy like they do know, this is insane.
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vote details (2)
@craig-grant · 
would you consider only changing or stopping the inflation rate for accounts that are powering down, if that's possible
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properties (23)
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vote details (4)
@the.masses · 
I agree with most of what you said besides the fact that inflation rates are an interest only to those who want to rule the world from steempower. Personally, I would give anybody on steem anything as long as I had access to it. This means creating "coins" attached to "assets" and leaving a trail along the way for people to discover. I could go more into depth but I don't want to get to far off topic as I tend to usually do.
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@the.masses · 
I disagree and allow me to explain.. By no means am I a known whale on any platform but, I see the good in what they are doing. This gives me further insight on what is to come because instead of worrying about who's who, I worry about how you are doing..
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@professorx · 
This feels more decentralized. I feel like it's a baby DAO! I imagine the initial proposals will cause much controversy and rough transitions, but those are a baby DAO's growing pains. What I am wondering though is if BlockChain Parameters are set with a time limitation before they can be changed? Or would users of the site be subject to constant tinkering by a shifting cadre of 19 Witnesses?
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@razvanelulmarin · 
@dantheman, your comments today really made a difference on the overall feel of the site. Please consider do it more often :)
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@scammymcspambot · 
http://i.imgur.com/VXAyYfZ.jpg
👍  ,
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vote details (2)
@senseiteekay · 
Can we please vote on a reward taxation that reduces inflation and keeps more STEEM circulating on the platform? The reward rate of STEEM is adding to the current sell pressure we're experiencing on the market. We had a reversal today after these announcements but because there's so much supply, there's a lot of it being sold, forcing the price into dangerous regions. If we don't address these inflation/creation problems soon, we could see the price of STEEM tank to $0. And this is from someone who's holding long term. It effects investors negatively. There's literally no reason to invest in the platform when there's sell orders of over 1Million+ STEEM and only 50 BTC worth of buys. This needs to be addressed, solutions need to be put forward, and a vote should be had. I don't care if there's only 19 witnesses voting, just find the solution before STEEM tanks.
👍  
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vote details (1)
@freedomengineer · 
Can you please  explain 'reward taxation' more?
👍  
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vote details (1)
@senseiteekay · 
Because the creation of STEEM is at such a high rate, I suggested here and on other threads that we should introduce a fee on rewards. A small percentage that is taken every time STEEM is created which can be recirculated within the economy. This reduces the amount of STEEM needing to be made as there's already a supply within the economy which can be used to pay rewards. If creation of rewards then become more frequent, and if there's less rewards being handed out, we create a surplus that can be paid back to investors. 

The same thing happens with banks and taxable incomes. State banks tax incomes to recirculate money, reducing inflation, and then use surplus for government spending. (As I understand)
👍  
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vote details (1)
@snowflake · 
> c. Reducing Vesting rewards

Do you mean the steem power growing in people's balance or curation rewards? If the former it's definetely not a reward. Being devalued at 10% per year is anything but a reward.
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@snowflake · 
Can someone please tell me why inflation in steem is good and why it is necessary?
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@freedomengineer · 
I think that the inflation funds the 'free' new accounts  on steemit plus the fact that it does not cost you dirrectly to vote as it will on other blockchain social networks. That's my understanding.
properties (22)
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@stray ·
$0.21
Please include a Visa/Master card solution to buy steem in order to get investors to input money without buying Bitcoin first and being forced to pay 10%-20%
broker fees.
👍  , , , , , , ,
properties (23)
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vote details (8)
@the.masses · 
Mmm, or just tell them that banks don't really drive your money to every purchase you make around the world... Broker fees? Is that not the same as **Ripple** or any other voting pool out there?
properties (22)
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@timcliff · (edited)
I've suggested this as well, and I do support the idea; but just so you know this will be a very difficult change to make. Steemit, Inc. would likely need to register with the US government as a money exchanger, which has a huge regulatory burden associated with it.

[Edit] Either that, or find one that it could integrate with.
👍  
properties (23)
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vote details (1)
@the.masses · 
Neither...You simply void the problem without notification redirecting traffic.
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@taoteh1221 · 
WOW, this is kick ass stuff. I herby undo my scamcoin retweet after I post this, and humbly apologize. Great positioning! :-)
👍  
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vote details (1)
@traducciones · 
Will translate this news for the Spanish community!
properties (22)
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@traducciones · 
Here the translation into Spanish of this post:
[Presentando un Avance de Steem 0.14.4 . Base de Datos Compartida](https://steemit.com/spanish/@traducciones/presentando-un-avance-de-steem-0-14-4-base-de-datos-compartida)
👍  
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vote details (1)
@haphazard-hstead · 
I don't read Spanish, but I appreciate the work you do to translate Steemit posts!
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@traducciones · 
Thank you @haphazard-hstead!
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@vegeta · 
https://img1.steemit.com/0x0/https://i.imgur.com/8JAmSUp.jpg
👍  
properties (23)
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vote details (1)
@whatsup · 
It is a great idea to publish the road map!  Thank you.
👍  ,
properties (23)
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vote details (2)
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