DAILY STEEM REPORT NOVEMBER, 5TH ( STEEM + 118.56% )
After the new proposed Changes to the Steem economy where announced, Steem price went up 118%.
Summary of Proposed Changes
This would include the following:
Set a fixed instantaneous annual creation rate of 9.5% from all sources (except Steem Dollars conversion)
- Allocate 75% of the created Steem to the Reward Fund.
- Allocate 15% of the created Steem to the Vesting Fund as interest on Steem Power.
- Allocate 10% of the created Steem to the Witnesses.
Witness rewards would be rebalanced such that the top 19 would earn 1/29th of the witness rewards, the runner up witnesses -would share 5/29th, and the miners would share 5/29th.Witnesses and miners would be paid in STEEM rather than Steem Power. All votes for witnesses would expire after 3 months, this would remove the incumbent advantage and require people to continuously evaluate and vote for witnesses.To support more equal opportunity mining the mining algorithm would be updated to use Equihash (similar to zcash).Reducing the Steem Power holding period to a minimum of three months.Lastly, under the new inflation rate there is no longer a need to perform a reverse split every 3 years. This would greatly simplify the life of exchanges.
happy news
yes! new accounts & level of daily activity, all one needs to look at !
Could someone explain exactly what this means
Currently STEEM inflation is around 100% and after change it will be "just" 9.5%. Simple as that. SP inflation will be the same but partially compensated and so specifically it will be 8% or lower.
Thanks for the info mate!
You're welcome
Steem's up, everything is all good.
Guess everyone is happy today
Finally a plus sign on the second line. Thanks so much @elyaque
STEEM ON!!
Yeah amazing today, lot's are powering up i guess :)
Well steem as obviously gone and many new changes, I still think 3 months is a little sort to secure the future success of steem but who knows.
This post has been linked to from another place on Steem.
Advanced Steem Metrics Report for 5th November 2016 by @ontofractal
The Daily Tribune: Most Undervalued Posts of Nov 05 - Part II by @screenname
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