What is steemit witness voting?
I have Joined steemit just about a month ago, and since then I have been learning a lot of stuff daily, But it seems steemit doesn't stop itself from surprising me.
I have learned a lot about steemit, But just today I stumbled across an article with a word witness Voting.
As always when I find something new, I want to know more about it, so I googled it and read 3-4 articles about it, but still doesn't get much about it.
The main questions that are coming to my mind are:
1. What are we doing while voting for a witness?
2. Am I missing a big part of steemit by not voting for witness?
3. Is our vote important or not?
4. If we vote, do we get any benefit from it like curation rewards or is it just to support steemit community?
5. whom should we consider to vote as a witness?
Maybe these type of question might have been asked and answered previously, but I didn't get a right article that could explain a layman like me who don't know much about technical and coding knowledge about steemit witness voting.
So If you could explain it, it would be a lot of help for me and new people like me, and more people could Participate if it is important for steemit.
As acquiring right knowledge is the Only Path to grow and the more we know about steemit, the more we could explain it to others. And more it will grow.
Valid questions I had as well when i started. @pfunk wrote a good overview post:
Witnesses are generally voted for because they are trusted members of the community, positively contribute to Steem and Steemit in many ways, are qualified and experienced in administration of servers, and are experienced in cryptocurrency networks and software. Witnesses are expected to keep a block-producing Steem node running 24/7/365.25. They are also expected to provide an ongoing price feed of the value of STEEM tokens in U.S. dollars, set the mininum Steem Power deposit to create an account, set the APR% for the Steem Dollar interest rate, and in the future might set additional network variables. Witnesses are also strongly encouraged to run a seed-node to provide the blockchain to syncing clients. Witnesses are rewarded for these qualities, services, and of course running their node by getting powered up by 1 STEEM for each block they produce. By being paid in Steem Power, witnesses are further incentivized to be committed long-term and also to contribute to Steemit curation.
Check his post here: https://steemit.com/steemit-guides/@pfunk/a-full-steemit-user-s-guide-to-steem-witnesses
I have already read that article, but still I had few questions in my mind which I had posted here, But thankyou for helping me @uwelang
ok - when voting you will not be rewarded for this - best you check all witnesses and read what they do (they usually post witness updates) and then decide which one you vote for - i used to select the ones that help Steemit grow (as far as i could evaluate that).
Okay, cleared a lot more @uwelang