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RE: Upcoming Proposed Changes for Hardfork 0.17.0, making Steemit Simple for Everyone using the K.I.S.S Principle [Infographics]

in #steemit8 years ago (edited)

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 :)

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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

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