NEXT STEEMIT UPDATE! - Preliminary Version: HF19 Linear Rewards
This is a translation made by me for the Spanish-speaking community that does not dominate much English but that deserves to be informed of the update that is coming in Steemit. Here the original post.
Hello Steemians!
We have officially published our preliminary version of the next hardfork (0.19.0), with the code name "Equality", whose purpose is to make everyone's influence directly proportional to their participation -stake- (as opposed to the existing system in the that the influence is related exponentially). Our "wizards" of the blockchain refer to this using a "linear reward curve", a change that received broad support from both members of the non-technical community and the witnesses.
Healing Rewards and Vote Impact
There are two other changes within the update that affect the "non-technical" members of the community: 1. The healing reward is changed to a square root curve and 2. The impact of the votes is increased.
Healing rewards
The change in the healing reward curve will not have a noticeable impact on the rewards and is necessary simply to prevent these changes from having a material impact on the healing rewards.
Impact of the vote
Changes in the impact of voting with 100% power are more material. A 100% vote will be 4 times more powerful once you complete the HF19. At this time, a single vote with 100% power uses only 0.5% of its remaining power of vote (the voting power is completely regenerated during a period of 5 days). That means that real users would have to vote 40 times in twenty-four hours to use all their voting power. This leaves users less active in the inability to fully use their voting power. After this change, a single 100% vote will use 2% of the remaining voting power, this means that 10 votes per day at 100% will exhaust the majority of its voting power. Of course, if you do not want to use so much voting power in a single vote, you are still free to lower the percentage of power you use in each vote.
Users can also feel free to vote positively at will, because a vote only consumes a percentage of the remaining voting power, not the total. Imagine that the "voting power" is a pool that is constantly filled by rain. Each time you vote, you reduce the amount of water (in this case, voting power) by a certain percentage (that is, it is not like constantly removing 500 gallons of water in a lake). The next time you vote, you will be eliminating another percentage of the supply that you had previously decreased with another vote.
This means that there are still no limits on how many times you can vote, which means that the more you vote, the more your voting power gradually decreases (pool water). To get a better idea of how powerful your votes are and the speed at which that power decreases, see how much an author's reward increases by voting with 100% of the voting power and you will intuitively see how the algorithm works
You can read the notes of the github version:
https://github.com/steemit/steem/releases/tag/v0.19.0rc1
The Steemit team
My name is Emmanuel. I am a Venezuelano computer student and technology enthusiast. I believe fervently that we can build a better world with the help of science. I invite you to follow me, weekly I will be writing about various topics that may surely interest you.