RE: Upcoming Proposed Changes for Hardfork 0.17.0, making Steemit Simple for Everyone using the K.I.S.S Principle [Infographics]
Some really interesting stuff here. What do you mean by no more mining? Does that mean all coins will be generated by steemit (etc.) activity? Or are they not generating any more coins?
I also need clarification on normalized payout rates. Do you mean we won't be drawing from a daily pool anymore? How is that going to work?
Extended nesting is great. Same with the changes to comment payouts (I think).
If the 4 post a day limit was put in place to stop spamming, what's going to prevent it now that it's removed?
Glad they have a streamlined interface in mind. Simplicity goes a long way towards drawing in new users.
Now if they can only fix the sign up process.
P.S. Just a few typos and awkward wording throughout the graphic. You've done such a nice job putting it all together, but I thought you should know. If you ever need help copy-editing, feel free to ask me. I'd be happy to help with this.
Apparently certain % is of Steem Inflation is dedicated to Miners, however Mining cue was dominated by handful of Miners. Proof of Work provide little security benefits for Steemit, so developers are most likely to allocate more Steem Inflation to Witnesses or the Network and remove Steem Reward for Mining.
As for normalized payouts, I personally don't understand much about it in order to give your a more detail explanation!
Well, we don't really have much Statistics for Over 4 Posting a day limit, so it difficult to determine whether this rule actually helped reduce or prevent Spam, don't think this will much of an impact but just make things more simple
Give me your Steemit.chat name, it would really help if you could proof-read some content since it's importnant information about Steemit that needs to be as clear as possible!
P.S. I made some adjustment to the Infographics, hope it's good!
Appreciate the support :)
STEEM chat is catharcissism too.
Curious how coins will actually be created if there's no miners.
Happy to contribute to such a worthwhile endeavor.
Steem uses Delegated Proof of Stake (DPOS). The coins are created by the witnesses every time a block is validated (I think it's every 3 seconds). In essence the witnesses are the miners. Currently the POW mining in Steem only generates 1/21 of the blocks but that portion of the algorithm doesn't add any additional security to the network. If you are interested I am including 2 links of Steemit articles about DPOS.
https://steemit.com/bitshares/@testz/bitshares-history-delegated-proof-of-stake-dpos
https://steemit.com/money/@autosmile13/what-is-dpos-delegated-proof-of-stake
There is a bandwidth limit for the accounts, raising the limit requires more SP. A spammer could reach the limit fast, and with the HF, this limit won't be hardcoded but a witness parameter. If the witnesses see there are much spam, they could lower this limit (bandwidth / SP, I guess).
This isn't KISS principle my friend. Explain it to me like I'm a developmentally challenged 10 year old.
I do hope something is in place to discourage spam, had not thought of that.
Am also happy to proof read stuff, am a bit anal about spelling and grammar ;)