What are Steem witnesses?
The Steem blockchain requires a set of people to create blocks and uses a consensus mechanism called delegated proof of stake, or DPOS. The community elects 'witnesses' to act as the network's block producers and governance body. There are 20 full-time witnesses, producing a block every 63-second round. A 21st position is shared by the backup witnesses, who are scheduled proportionally to the amount of stake-weighted community approval they have. Witnesses are compensated with Steem Power for each block they create.
What happens if all witnesses stop and no blocks will be produced? Will the producing of Steem stop and Steem become more valuable?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The house of cards will collapse
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
And all data will be gone? This also means if the power is switched off there's no blockchain and no Steem?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steem will be there, but no blocks/rewards will be produced
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit