Creation of a Worker Proposal System - SPS
In response to Blocktrade's post regarding SPS a Steem Proposal System, I wanted to restate this idea in terms the average Steemian would understand.
More information on the worker proposal system. https://steemit.com/blocktrades/@blocktrades/proposing-a-worker-proposal-system-for-steem
The Discussion
There is talk about how to create funds for development and maintenance of Steem (the blockchain) that is not solely based on SteemIt, Inc.
Obviously, any technology company will need to add and maintenance code for various reasons and those funds have to come from somewhere.
Why do we need a fund?
The reasons are clear. Recently SteemIt, Inc. had trouble not only with delivering SMTs on time, but it seemed based on their own statements there were concerns about the viability of their company. In addition, the recent power down episode has illustrated the community does not have any say in what SteemIt, Inc. does with its funds.
It would also be good to have more teams working on Steem whether it is coding or other work we want to have done, having a fund and a way to allocate those funds is important.
How
The blockchain creates new Steem commonly called inflation. That Steem is currently used to pay for the following things.
Witness Rewards, Stakeholder Interest, Curation, Author Rewards (comments and posts)
The new SPS fund would be created by reallocating some of the current inflation away from Author Rewards and to the SPS fund.
Our plan is to reduce the amount of inflation paid to author rewards from ~52% down to ~41% and redirect this amount to the worker proposal funding account -@blocktrades
In addition, it seems that Ned is considering adding some Steem to the fund to kick it off. He has committed to paying for the development which should take place over the next couple of months.
Steemit considers this funding to be a part of a larger donation to the SPS and wishes that the Steem community will be actively involved in evaluating the development of this proposal. @blocktrades
My Opinion
I am strongly in favor of creating and funding this fund. I would have liked to have seen it also funded from 1% of the Witness Rewards, but I will support it this way as well.
I encourage you to read both of Blocktrades' posts and join the discussion.
In a nutshell:
Create and fund a worker proposal system
Funded by reallocating the current inflation.
Developed by Blocktrades.
To be Managed by the Community.
Regarding the details on exactly how it all works, I don't yet know.
This SPS does not replace SteemAlliance's potential foundation but would work together according to Ned today on SOS.
Clear as mud?
@whatsup,
Personally I like this proposal, but my question is who will manage that new account or the funds are distributed among few witnesses?
Yeah STEEM is decentralized but everything is built top of STEEM user accounts! So things can be complicated at that space!
Cheers~
Well I don't use bitshares, so I am not totally sure on the who and the how they come up with consensus.
@whatsup,
In that case I don't sure how this might work accurately! Moreover, I hate to see some kind of sh!t happens to this like DLive did too!
Cheers~
The only flag I see here is in who is getting awarded contracts to do work. I keep reading that witnesses are being hand picked by the top stakeholders and the small fry have no say. If this is to be more of the same it would seem more likely than not to devolve into more of the good ole boy network, diverting more of the pool into the hands holding the most as they and their friends get all the contracts with no pressure to force them into doing much of importance.
I wonder in my ignorance why the developments that were expected have not already been undertaken by someone with the means if Steem is the answer to streamlining and enhancing a businesses operations. Could be businesses simply don't know how Steem could benefit their companies, and if that is the case I wonder if some of this focus shouldn't be on setting up more demos that would showcase how Steem could revolutionize current models.
Not really sure, just hope this isn't a new funnel for the same old same old.
I hear you and to some extent of course it will be true, contracts will be awarded to those who are trusted. Which of course to some will feel like same ole', same ole'. To me it is a step in the right direction, even if flawed.
Let's say Ned sees something shiny and disappears again.. At least we will have some funds and some method for carrying on.
Looks promising, that would also be a good idea to take 1% from the witness pool for funding. If the top witnesses care about steem, they wouldn’t mind 😎
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We shall see.
💯
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I am very much in favour of the basic premise, just not the funding model. Why not take 10% out of the reward pool first, and then everyone gets the same cut of what's left. Why should 1 group (content creator's) pay fully for something that will benefit several groups.
Am I missing something?
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Well, I think the thinking is with the price this low running witnesses is also very expensive.
I'd even be okay with most of the reallocation coming from the reward pool. But I also think others should put some skin of the games.
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Clear enough for now. I'm going to wait a day or two and see which opinions come onto the surface and speak to me most. But I don't see too many problems with the idea for now :-)
Sounds reasonable. I like to follow the conversations also, and someone else always thinks of some part of it that I miss.
I support the proposal as well as is. While I understand the issue of not diluting the witness portion, they have costs to administer and the low price has probably put pressure on them lately so I am fine for now. However, this should be something we are able to adjust as the ecosystem evolves and creates value. In addition, the other costs of running nodes are coming down to help support witnesses and projects.
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All clear on this side.
Eager to see how this all plays out for sure.
should be interesting.
Easy to digest for an average steemian! Thanks @whatsup
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Excellent.
I did liked @mstafford suggestion, kind of makes more sense
But its hilarious to know that none of the top witness have openly considered endorsing this option if they are seriously concerned about Steem.