Recently, I saw the founder and former CEO of steemit still considers quadratic ("n2" in his words) rewards as a solution to some problems.
Quadratic rewards were in tact before Hard Fork 18 ("Equality") and this way, if user a has n times effective voting power (Steem Power multiplied by his voting quota use) of user b, then his vote has n*n the effect of user b, whereas under linear rewarding system his vote has n times the effect of user b.
Advantages of quadratic rewards over linear rewards are:
- Its being bullish for STEEM, since it enforces people to buy into it, due to it escalating an arms-race that is in tact under linear rewards anyway
- Strongly discourages use of multiple accounts by individuals and makes shared accounts more rewarding, since n times the power of one account, translates to n*n times the power of one account using the STEEM of all n accounts.
This reduces some of the multiple account load on the blockchain
Disadvantage of quadratic rewarding compared to linear rewarding are:
- Further empowerment of big abusers while for the same reason renders most users negligible.
This way, if a collective of people will want to achieve a certain goal which requires voting power, they would be pushed to delegate their STEEM to a common account.
To clarify it, if 10 accounts have 10 STEEM POWER each, together they count like 100 SP, but 1 account having 50SP, is in effect like 250SP, which is 2.5 times the effect of a collective having 2 times his stake combined.
Due to increased need of delegation, a load of other type is added to the blockchain, negates part of the benefit of bigger actions by fewer accounts.
Why are you 3 downvote my post?
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keep going, I am listening.
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Thinking about it, current curation rewarding is still not linear, and discourages use of multiple accounts due to declining portion of the post's rewards.
Single account will earn at least as much as multiple accounts with an equal combined Steem power.
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This comment has received a 9.49 % upvote from @steemdiffuser thanks to: @stimialiti. Steem on my friend!
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