I have mentioned this several times now, but I figured I would make another post on it.
I think steem needs to reduce the number of witness votes and they need to do it ASAP.
Right now every account gets 30 witness votes.
The witnesses are apparently in charge of dictating the economic direction of steem as well as just about every other aspect of steem.
Right now we have a situation where the top 20 witnesses are all basically being decided by just a couple of the largest stake holders.
Which is exactly the opposite of decentralization.
We could have a situation where one account acquires enough stake to completely control the entire Top 20 witnesses... that is something that just cannot happen.
My proposal is to limit witness votes to 10 per account. I would actually prefer that it be changed to 5 per account, but I will settle with 10 for now.
We need to make this change as soon as possible, though I am not sure if it would require a HF or not.
I agree, I would be in Favor of dropping it to 5 witnesses votes, that might still be too high!
The largest stake holding accounts are just dictating what they want we really don’t have a countable vote!
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Exactly. I think 5 is good. 10 is not enough of a drop because then they could split their stake into 2 or 3 accounts and still control the witnesses.
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Dear @jondoe
Do you really think that it would change anything? 20 witnesses or 30 - same thing. Im not sure if it would change anything at all.
Yours
Piotr
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I think you are missing the point. Right now every account can vote for 30 witnesses, while only 20 make all the decisions around here. That means that if any one account accumulates enough stake they can vote in every single Top 20 witness, which is pretty much exactly what we have today! The Top 20 witnesses are all basically being decided with the vote of the two largest accounts. That means, in effect, we have the direction of the platform basically being decided by two people, yikes!
Changing the vote limit from 30 down to 10 or even better, down to 5, we would likely greatly decentralize the Top 20 witnesses.
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