EOS Action Required and Voting Opinions

As we would all have seen by now, EOS has finally launched, but the blockchain has not yet had enough of the token holders vote on the Block Producers to say that the chain is currently valid.

The requirement is that 15% of all staked tokens are used to vote for the Block Producer. Currently only about 3.1% of the votes have been cast.

There are conflicting sets of advise floating around. For example the people at ONO are advising NOT to vote as they are worried about potential security flaws. But the ONO team also admit that people do need to vote and get this system up and running for everything to be sorted out.

@Stellabelle is recommending that people use the voting system created by @jesta and the Greymass team.

I'm not going to post links, as I don't want to be held responsible for any ill actions, so please do your own research.

But on to my 2nd point. The EOS Block Producer voting.

One of the biggest problems we have with Steemit is that so many dead votes sit with witnesses that are also basically dead, or at least zombies. EOS appears to have overcome this problem with the reduction in vote strength of Block Producers over time.
Your BP Vote (the same as a Witness vote here) has a half life of 365 days. So after 3 months, your vote is only at 80% of the strength on day 1. This way to keep your favourite Block Producers in those top spots, you need to regularly vote or RE VOTE for them. Its not a system of Set & Forget.

Steemit could learn a lot from these innovations, it would remove a lot of criticism that Dead Witnesses are just cruising along thanks to ancient votes from years ago.

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This is what I love. We'll get to see how this unfolds. Seems like a good idea to me.
SMT's will give us all sorts of opportunities to set multiple ideas against each other, to test them out.
That's what I love about governance models in seasteading.
The concept lets the models compete with each other.

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That voting half life thing sounds like something steem should steal.

goatsig

You mean re-purpose/be inspired by/already were gonna do it

LoL that gif! XD

And no I meant steal but I guess those other terms will do the job too and maypossibly even be true ;D

goatsig

This is a good article. Not enough has been said about the vote decay on EOS. Overall, it's a good thing but people need to know it exists and that votes aren't "set it and forget it."

EOSAmericas (eosamericas2) is a block producer candidate. We run our own secure servers - not just cloud servers. We aim to provide a secure, decentralized network and spread EOS throughout ALL the Americas so no one gets left behind. Our views on the EOS Constitution are here: https://steemit.com/eos/@eosamericas/eosamericas-block-producer-code-of-conduct . Please take a look at our candidacy at https://eosamericas.com and also consider voting for 'eosamericas2' as one of your 30 BPs.

BP info: https://eosamericas.com/bp.json

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