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RE: Protect & Govern STEEM: Vote for Witnesses NOW!
I would like to see number of witnesses and witnesses votes changed during a fork. Maybe go to top 30 witnesses instead of 20 and change your votes to only 12 witnesses. This would help decentralize things. I always thought top 20 with 30 votes per account was to centralized
Socks. Limits on the number of witnesses an account can vote for are bypassed by sock puppet accounts.
A better mechanism to decentralize governance through witness votes is 1 steem 1 vote. No matter how many accounts are casting votes for a user, they can only vote their VP once.
They would have to split their stake to vote with multiple accounts though, and every individual vote would be worth less. I think fewer votes is actually closer to 1 steem 1 vote, as the influence one can excert right now multiplies with every vote one gives.
Certainly managing the witness votes of multiple socks is easily done using proxies. All the socks could simply proxy to accounts that each vote seven witnesses, and all the VP the owner spread through all the accounts would be cast for 30 witnesses in total, if that's what they wanted to do. However that VP would be split and only approximately 1/4 would apply to each witness (28/7 = 4), so it would reduce considerably the stakeholders ability to vote his entire stake for 30 witneses.
1 Steem 1 vote does so 4 times more.
Yes. Forget what I said, I didn't think properly.
Yeah, I agree. Maybe the math is wrong, but from the back of a napkin this sounds like a solid plan. It'd require more participation in order to approve things.
Yeah not sure the exact math. We can debate that. But needs to be changed. However the current witnesses most likely will never incorporate that type of change, so we would have to do it on a hard fork that separates from the current block chain.#steemclassic