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RE: Why I'm In Favor Of Witness Vote Decay

in #busy6 years ago

Hello @teamsteem, I read through all the comments on your post about the witness vote decay and, honestly, I got confused, to start with, what is or what do you mean by witness vote decay? There are many terms I did not understand in the comments, it might be because I am new on this platform, so new that I am still learning how to create posts and even comment, so, please, all the friends commenting here, can you provide explanations or at least links to find detailed information about the topics being discussed here? I will gladly appreciate it, and I am sure all other new members on here will appreciate it as well. Well, thank you in advance for the help you may provide on this matter. By the way, it is a privilege to be part of the steemit family.

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Every user can vote for witnesses (aka block producers). The problem tackled here is that lot of those witnesses are almost bound to remain witnesses forever due to a very high staked accounts supporting those witnesses. The vote decay would mean that the longer those high stacked accounts have their witness votes casted, the lesser influence they would have (the weight would be decaying) unless they re-cast the vote thus making the witness spots contestable for other accounts...did I shine at least some light on the topic?:D