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RE: The Steemit Tragedy of The Commons

in #steemit • 8 years ago

This is, indeed, a huge reward. Perhaps we should consider shuffling the witness list every week or so? There are a lot of people, more than just the top 19, doing extremely valuable work for steemit who I feel should be rewarded for their efforts.
Or perhaps, as you say, we should consider reducing the pay and leaving the support to the reward pool, as witnesses discuss what they do, and people can decide on the value of their actions.
Anyway, thanks for the thoughts on this @recursive, valuable opinions as always. I'm saving my upvote for your comment for past 1st payout, to make it go on top again.

8 years ago in #steemit by
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     8 years ago 

    I think it would be optimal if the probability to produce a block , was related only with the % of votes each witness has! Like it happens for the witnesses after position 19 !

    If the account is not in the top 19 by vote, they still have a chance to be selected as a block producer through a timesharing algorithm that is weighted by their votes.

    An algorithm that select the runner witness as a block producer with a frequency (relative to other runner witness candidates) proportional to their votes (relative to other runner witness candidates). So if a witness is at rank 20 with twice the votes of the witness at rank 21, the rank 20 witness should be scheduled as a block producer twice as frequently than the rank 21 witness.

    ...read more here:
    https://steemit.com/steem/@arhag/how-the-new-witness-scheduling-algorithm-works

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