RE: Blockchain Generations: From Bitcoin to Smart Contracts and Graphene by bubke

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bitshares · @bubke · Jan 18 '18

$1.48

I think you are wrong in saying that all votes have equal weight in dpos, i think the stake counts for strength of vote.

👍 gentlesoul

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@droucil · Jan 21 '18

$0.25

Yeah, otherwise it would be impossible to do without proof of identity. People could just use bots to create 1000's of accounts and take a major vote-stake ^^

👍 bubke

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@bubke · Jan 21 '18

$3.89

100% right @droucil, the stake strength is off course also not safe and especially a 'power to the rich' thing.  If e.g. here on Steem, the Steemit account - who has 35% of shares - makes 20 witness votes, that will be the top 20 witnesses i guess.
You could argue that share holders are not interested in destroying their own wealth but a witness majority could theoretically e.g. change the rules to give even more power to themselves.
Decentralisation ain't easy :-)

👍 gentlesoul, eco-alex, vl248, droucil

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@droucil · Jan 21 '18

$0.29

@Dan not too long ago made an article about the need for identity in order for good governance, [link](https://steemit.com/eos/@dan/proof-of-good-governance). I think he makes a valid point as it would make the possibility for a true democratic model. One could argue that anonymity is more important, but I do believe this full transparency might cause for a real game changer.

👍 bubke, largelyuseless

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1 reply

@eosfan · Jan 24 '18 (edited)

$1.25

your votes for all your fav delegates is weighted by your vested amount. 

votes are calculated via approval voting which is one of the most representative forms of voting. It makes it easy for others to vote people out even if they have large stake. this allows dpos to be more merit based & doesn't require wealth to produce.

BUT *the vote of each block producer is equal* no matter how much vests is behind them, so all 21 in each round are weighted equally, need more than 2/3 to agree to fork or finalize a block.

This helps break the highly concentrated wealth distributions might have in addition to performance review by community that can fire them.

see the difference? 

[![Image](https://i.imgur.com/rhPiMiG.jpg)](https://i.imgur.com/rhPiMiG.jpg)

👍 bubke, jeremi-kossak

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@bubke · Jan 25 '18

$1.42

Hey, thanks, interesting, so approval is needed before one can become a witness, who does the approving part?

👍 gentlesoul

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@tumtum01 · Jan 21 '18

Correct.  Each share (single BTS for example) holds equal weight.  I think that is what she was trying to say.

👍 crytposeahawks

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