Steem Hardfork And More New Exciting Changes Are Coming! [Detailed · 5 min read]

good-karma (76) in steem • 9 years ago (edited)

View this post on Ecency: Steem Hardfork And More New Exciting Changes Are Coming! [Detailed · 5 min read]

9 years ago by good-karma (76)

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bendjmiller222 (64) · 9 years ago

This is explained so well and in terms everyone can understand without being overly technical. Many thanks for creating this post. The only question I have is about liquidity rewards. Is that the payout of steem power or steem dollars? Maybe others have that question too.

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4 votes

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good-karma (76) · 9 years ago (edited)

Contribution Rewards:

Curation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
Content Creation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
Block production rewards: 1 STEEM per block or 0.750% per year, whichever is greater
POW inclusion rewards before block 864,000: 1 STEEM per block (awarded as 21 STEEM
per round)
POW inclusion rewards after block 864,000: 0.0476 STEEM per block (awarded as 1
STEEM per round) or 0.750% per year, whichever is greater.
Liquidity rewards: 1 STEEM per block (awarded as 1200 STEEM per hour) or 0.750% per
year, whichever is greater

Power Rewards:

Steem Power rewards: For each STEEM created by the above rewards, 9 STEEM are
divided among all Steem Power holders.

see: Steem Whitepaper, page 35.

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bendjmiller222 (64) · 9 years ago

This is so helpful! I read the white paper but must have missed this part somehow.

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good-karma (76) · 9 years ago (edited)

Warning: some of the details of this, was updated with last hard forks. But more less it should give you an idea.

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bendjmiller222 (64) · 9 years ago

Understood. You are a valuable asset to steemit. I'll do my best to pass on the knowledge when I see others with similar questions.

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1 vote

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tessaddavis (53) · 9 years ago

Good stuff. Thank you for sharing!

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1 vote

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good-karma (76) · 9 years ago

Yes, changes are great. Better content is being rewarded, penalties for abusing the community with bad and frequent content.

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bitacer (55) · 9 years ago

2016-07-26

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1 vote

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good-karma (76) · 9 years ago

Nice catch, thanks! Updated it, I suppose github note also needs an update!

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oneyesoneno (40) · 9 years ago

Steemit Quotes Of The Day –
Sometimes life is tough. 諦めない

Btw i upvote your post because it is a great content :)

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good-karma (76) · 9 years ago (edited)

Thanks, nice animation!

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dana-edwards (74) · 9 years ago (edited)

Curation rewards only count for the first payout (This is already the case)

If this is true why would anyone vote after the first payout? Nothing will change except now there is a time limit of maximum 30 days to reward any post.

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good-karma (76) · 9 years ago (edited)

Why would you think no one will vote after 30 days? Blog followers will be the first payout voters most likely but someone who finds post later on, maybe even after year, they still might like/vote the post. And it gives content creators long term income. So it is good to think long term when you write your content. And internet is full of articles and posts from years back, they are still helpful in most cases unless of course, content is time relevant.

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2 votes

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dana-edwards (74) · 9 years ago

If most people don't vote after 1 day, what makes you think most people will vote 29 days later? But the difference is now you're limited to 30 days while before you weren't. Your posts now grow old and die.

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good-karma (76) · 9 years ago

Well, the way I understood is that. Now we will have 12 hours for first payout which is shorter period for post to stay on top of the post on trending page. After that period it is payed out and other post will come to visibility and they go down, but the post which has real good value keep getting votes for second period which starts after first 12 hours and so on. I think this will increase chances to more posts to get spread of votes instead only few getting major votes.

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1 vote

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lynda-j-leonard (54) · 9 years ago

All this still makes my head spin, but this helps immensely. Keep on educating those of us who are more visually oriented and not coders.....;-) ~ljl~

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good-karma (76) · 9 years ago

of course

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paddman08 (31) · 9 years ago

Ummm.

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mauricemikkers (64) · 9 years ago

there is a typo in your text: Issue
The Prolem

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