How distributed is the steem protocol?
Today the devs forced a hardfork to v9 in the blink of an eye. I'm assuming the fork was pushed to fix issues discovered during the 'hack' but that's besides the point. The developers of Steem hold so much SP that they can take over the vast majority of witness slots at will and that is the real problem.
Here's a screenshot of tonights witnesses:
This means they have the power to alter or revert transactions, votes, submissions, take anyone's tokens or pretty much do anything they please at any time. This should not be taken lightly if we want to have a truly distributed, democratic, censorship-resistant protocol.
You can all help by voting for witnesses - preferably in a way that helps distribute the power over the protocol.
Thank you!
what about centralized doimains and servers?
If we make the power distribution of the underlying blockchain properly decentralized, anyone can put up a website and domain for the content. If Steem takes off, and they document the API properly, more centrally hosted and even self hosted open source frontends will sure appear.
That would cause an uproar in the establishment. :)
I witnessed at least 2 rollbacks\reversions today. Cost me some money...
We didn't roll back any transfers of funds.
The reversion I was talking about was in the Market, 2 of my trades disappeared.
I was wondering the same thing...