Proposal to increase witness voting participation on Steem
Image Source
This great thumbnail was created by a fellow Steemian @flauwy.
Introduction
The Steem community has often voiced the concern that there isn't enough participation in the witness voting process by new and currently active Steemians. This is an important part of the Steem ecosystem that is integral to the safety and robustness of the Steem platform, and it should be improved in order to help Steem grow and reach new milestones.
Proposal
I propose that there is a financial reward/incentive for Steemians to participate in the witness selection process whereby the voters would receive anywhere from 0.1% to 5% (or more) of the witness' witness category post rewards as beneficiary payout rewards.
This proposal also involves adding the following extra columns to the https://steemit.com/~witnesses page:
Short witness biography and information with link to the witness' main blog page
Witness server and seed server specifications
Witness price feed info and missed blocks statistics
Witness Github contribution history
Witness' witness category post history and associated post rewards
Example
Bob is a Steem witness that operates a witness and a seed node, and contributes regularly on Github and on posts witness updates as well as personal posts on the Steem platform.
Alice is a new Steemian that wishes to grow her blogging business and decided to join Steem and make it her primary content creation and distribution platform. Alice would also like to support the Steem platform by voting for witnesses that contribute to the platform. She would then look at the https://steemit.com/~witnesses page and see all of the existing witnesses' information, but also their respective server specifications, their Github contributions and their posts as well as the post rewards associated with their witness posts.
Alice would then select up to 30 witnesses that she would like to support with her vote and would receive the associated witness post rewards beneficiary payouts.
Benefits
The benefits of this proposal are primarily twofold:
To increase the witness voting participation on behalf of the Steem community
To make sure that the active and contributing Steem witnesses are being recognized and rewarded by the community
Conclusion
This proposal would go a long way to increase the participation of Steemians in the witness selection process, and help the platform to grow sustainably and efficiently by incentivizing Steemians to support the consistently contributing Steem witnesses.
Posted on Utopian.io - Rewarding Open Source Contributors
You can increase participation if you make it more attractable to people who don't have money to buy in to steem. If you are a whale, why not up vote that new guy with 100 percent vote so that he is encouraged to create great content and hopefully when things improve for him or her , they will make a investment into the steem ecosystem.
I have been on steem for almost a year and I still don't know how to change my allocation of voting power, nor do I care to, but every whale seems to know how.
You got a 100.00% Upvote and Resteem from @ebargains, as well as upvotes from our curation trail followers!
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @ebargains by clicking on one of the ready to delegate links:
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Thanks for the advice. Its baby steps at the moment, once I get to 20 steem I can start thinking about 100 or 250 lol and delegating that steem in turn
Agree 100% with you. I regularly upvote minnows just for the sake of distributing the wealth on Steem. More whales need to realize that the strength and value of a network, or token/currency for that matter, is strongly correlated to how well the wealth is distributed on the said network, and how certain positive network reinforcing behaviors are incentivized.
Regarding the voting power allocation, your account needs to have over ~500 Steem Power in it in order to have the voting strength slider appear.
Gave your comment a 100% upvote to help out :)
Cheers!
LOL that's why I don't know how to do it, makes sense. Thanks for the upvote. I just hope that one day steem becomes more content driven, that way it can eventually take on the likes of YouTube.
Hello @ebargains, your contribution have been approved.
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[utopian-moderator]
Hey @zoneboy, I just gave you a tip for your hard work on moderation. Upvote this comment to support the utopian moderators and increase your future rewards!
You got a 100.00% Upvote and Resteem from @singing.beauty, as well as upvotes from our curation trail followers!
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @singing.beauty by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount
You will earn 80% of the voting service's earnings based on your delegated SP's prorated share of the service's SP pool daily! That is up to 38.5% APR! You can also undelegate at anytime.
We are also a very profitable curation trail leader on https://steemauto.com/. Follow @singing.beauty today and earn more on curation rewards!
You got a 100.00% Upvote and Resteem from @ebargains, as well as upvotes from our curation trail followers!
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @ebargains by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount
You will earn 80% of the voting service's earnings based on your delegated SP's prorated share of the service's SP pool daily! That is up to 38.5% APR! You can also undelegate at anytime.
We are also a very profitable curation trail leader on https://steemauto.com/. Follow @ebargains today and earn more on curation rewards!
I agree wholeheartedly that witnesses would be well to educate others of their existence, contribution, incentives, etc. on a regular basis. When it comes to Steemit, there's a lot of "everything everywhere" since it's decentralized. Many don't really seem they feel they need to, because what determines their top 20hood is really the large votes.
I am curious if half the minnowbase voted, if it would be enough weight to push a witness into the top 20 over those who have multiple whale votes.
Not to mention, some of the witnesses are doing a great job and already have a lot of witness votes. For instance, Jesta has 20K minnow votes. Not sure if that's because of the awesomeness, or just because people like to pick #1.
I think I'm going to post about something similar. Perhaps I'll start interviewing witnesses.
You got a 10.00% Upvote and Resteem from @ebargains, as well as upvotes from our curation trail followers!
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @ebargains by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount
You will earn 80% of the voting service's earnings based on your delegated SP's prorated share of the service's SP pool daily! That is up to 38.5% APR! You can also undelegate at anytime.
We are also a very profitable curation trail leader on https://steemauto.com/. Follow @ebargains today and earn more on curation rewards!
Love the idea about interviewing the witnesses and posting the interview transcripts on Steem! You should definitely go through with that plan @omitaylor.
As @jerrybanfield explained in one of his videos a few months ago, the minnows do not affect the witness rankings at all. All that witnesses need to do is get the votes of 1-5 largest SP holders and that is it.
SP wealth is overly concentrated, and that is a major weakness of the Steem network. I do think that this SP distribution issue will get better with time as more whales contribute to different Steem projects and also distribute their wealth to deserving Steemians.
Yeah I watched the video by @jerrybanfield as I was researching what it takes to become a witness. And I get the message, however, anyone can become a whale just by putting more money in. So a minnow today may not be a minnow tomorrow. And the reverse is true as well. A whale today could be a minnow tomorrow.
I've always wondered though, what happens if a whale dies with their vote in tact and nobody changes it or powers down their account. Lol.
The witness structure also may not be forever. Who knows one day if a fork doesn't introduce a split in witnesses or even fewer witnesses.
Power is very circumstantial and relative, as the dropped blocked of yesterday's fiasco has proved.
That being said, I've already started brainstorming on the concept of interviewing witnesses. I would want the outcomes posted not only on Steem, but an evergreen domain forever. I have ideas and I'll keep you in the loop if you're interested in being updated on it. That's if witnesses are willing to participate. I'm thinking the first round should interview the top 100 witnesses if possible plus any willing to participate- and have a standard set of questions that allow everyone to compare answers side by side: sort of like a political campaign for 20 presidents with a set of "issues" and other information like their vision of the direction of the blockchain and the assets built on it. Who knows, maybe some of the whales will consider the information as well. And like I said, you never know who'll be a big whale one day. 😀
Hello @ebargains, this contribution has been declined for the following reasons:
The idea on its own is not trivial as I believe every user should engaged in voting for witnesses. However, the reasons mentioned above makes it not valid and can not be rewarded.
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[utopian-moderator]
Hello @knowledges, the algorithm is actually suggested in the "Proposal" section: "propose that there is a financial reward/incentive for Steemians to participate in the witness selection process whereby the voters would receive anywhere from 0.1% to 5% (or more) of the witness' witness category post rewards as beneficiary payout rewards."
The actual % would have to be set by a Steem HF update, and it would have to be a fixed percentage for all witnesses.
On the technical side of things, there isn't much else to add since the beneficiary payout feature is already implemented, and all that needs to be done is for the witness category posts to have their beneficiary payouts set to let's say 1% and to be payed out to all of the Steem accounts that voted for them as a witness. It is all very straight forward and should be easily implemented.
And the additional witness information to be also available on the Witness voting page is a no-brainer:
"This proposal also involves adding the following extra columns to the https://steemit.com/~witnesses page:
Short witness biography and information with link to the witness' main blog page
Witness server and seed server specifications
Witness price feed info and missed blocks statistics
Witness Github contribution history
Witness' witness category post history and associated post rewards"
I think these changes will be implemented in the future, but what matters is when will that future become reality; in a few months or in a few years.
And @zoneboy already approved the contribution...
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Wow, I totally love this idea in the sense that it increase community participation and is more like a win-win for both party unlike the present system. I support!
Indeed! This would be a win-win-win for the community, the Steem network and for the witnesses!
The proposal is very cool and very large
You must really try it
Thank you you are a very special person
This idea is so cool and should be recognized and accepted and enforced.
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