
Some ideas to prevent another Coup d'etat or Civil War
Coup d'etat: a hostile takeover of the network like Sun Yuchen(Justin's real name) did in the first day by filling the whole Security Council(How I call the Top 20 witnesses) with his minion-witnesses;
Civil War: the current state of Steem where two parties fight for control of a Blockchain that supposed to be secure against centralizing authorities. One side has 20 minion-witnesses servicing a single entity while the other is a coalition of almost everybody else.
I posted about this same subject before but here I think those ideas can have larger impact as I want to see people discussing them and developers to consider them when preparing the next HF.
The Proposals:
Vote Dilution
- The idea is to divide the value of a witness vote by the amount of voted witnesses.
- If you have
20 SPand vote for one witness, it's a20 SPfor it. - If you vote for 5 witnesses, it's a
4 SPvote for each. - If you vote for 20 witnesses, each gets a
1 SPvote.
- If you have
- With such mechanism in place, a new takeover attempt would be as hard as accumulating 20 times more SP than the whole Steem community.
- The more witnesses you vote, less value your vote has to each of them.
- A giant whale like
@steemit would be able to put one or two witnesses in the Security Council, but with each witness the difficulty to insert the next increases exponentially.
Vote Expiration
- The idea is to make votes for witnesses expire after a while.
- The idea is to prevent dead accounts from influencing Steem GovernanceTM.
- Votes are automatically uncasted after a year.
- Can be 6 months, 54 weeks, whatever time developers think is more adequate.
- Votes can be renewed before expiration, resetting the expiration clock.
- Vote renewal before expiration shows the user is still active.
- Proxy setup does not expire.
- Good for cold storages.
- But every proxy-chain must have an active user at the end of it, because his votes will still expire when not renewed.
Chronological Protection
Personally I don think this is important, but no harm in sharing an idea.
- The idea is to prevent another hostile Blitzkrieg from happening to Steem.
- All SP influencing the account, acquired by either Power Up of Delegation should have a 2.5-day gap before beginning to affect Witness vote positively;
- Power-down, undelegation or uncasted votes have immediate effect on witnesses.
- In case of Vote Expiration proposal above being implemented, vote renewal shall suffer no effect from Chronological Protection. Only votes casted or when they are recasted after expiration.
I am sorry if I made any grammar mistake. English is not my first language.
Sorry if I also said anything that might sound stupid above. It was not my intention.
Leave Some ideas to prevent another Coup d'etat or Civil War to:
Read more #steem posts
Best Posts From Fernando Soder
We have not curated any of fernandosoder's posts yet. But you can encourage our curation team to review posts by visiting them regularly and by referring other readers. Because we give priority to frequently read content.
More Posts From Fernando Soder
- Just a script I made to back up IPFS files into my personal Kubo.
- Nala loafing in her first winter with us.
- Misadventures in Korea making other "aliens" afraid for their safety.
- Walking through the park, saw happy scene that brought sad memory.
- Why is cli_wallet serializing transactions in HIVE as STEEM?
- Never trust AI to with your testing parameters. Make them manually by yourself before concluding your code is bad.
- All tests successfuly completed.
- Just testing this Hive Betting App
- Não sei se é fake ou se é real. Mas em todo caso, aqui vai a avaliação.
- United States needs to overwrite several parts of the 12th amendment.