Witness Earnings Report - 2018-10-08

STEEM Witnesses are the pillars of the STEEM blockchain but many Steemians don’t even know we exist or don’t even care. Those who know and/or care don’t have much visibility on what the “job” involves or how much witnesses earn.

All witnesses need from you is a witness vote that costs you nothing (it does not use your vote power like a post or comment upvote). By voting for a witness, you are telling the blockchain that you trust that Steemian for performing task of signing blocks and keeping the Steem platform stable and safe.

Credits

• This report was automatically generated by STEEM Witness @quochuy to provide visibility and transparency on STEEM Witness operations.
• The data for this report was collected from @steemsql a project by STEEM Witness @arcange.
• The charts displayed in this report were generated using Google Charts.
• Thanks to @witnesswatch for the original idea, that project seemed to have been abandoned, so I've decided to create my own and add some salt and pepper.
• compiling witness update posts on a weekly basisThank you @timcliff for
• a better Witnesses page that shows all the existing witnesses on the Steem blockchain not like the official witnesses page on Steemit that only shows the top 100 ones without filtering witnesses who have given up.Thank you @drakos for building

Context

All the transactions (activities) you perform (create/edit posts, comments, upvotes, transfers etc...) on various Dapps (steemit.com, busy.org, steemconnect.com etc...) have to be witnessed and signed by a software running on a witness node (computer/server) running 24/7/365.25 before being added to the blockchain. This operation can be time consuming and requires some expenses. For doing this work, STEEM Witnesses are getting rewarded with Steem Power for each block that they have signed and successfully added to the blockchain.

Blocks of transactions are processed in rounds of 63 seconds each. In each round, 21 witnesses will be picked to sign the blocks and have 3 seconds to sign. The 21 witnesses in each round are the top 20 witnesses plus 1 witness amoung the remaining (called the Backup Witnesses). The single Backup Witness in each round is selected in a weighted random manner based on their ranking, the higher they rank the more likely they are to be selected.

Every day, the system generates some STEEM tokens that are split into three pools:

1. 75% is allocated to the reward pool that is used to pay author and curation rewards.
2. 15% is allocated as interest to Steem Power holders.
3. 10% is allocated as rewards to the STEEM Witnesses for their work for the blockchain.

Disclaimer

I cannot guarantee 100% accuracy on the numbers found in this post. This is more like a way to give you an idea of the distribution of Steem Power through the witness operations. If you do find an oddity, please let me know and I will make sure to get it fixed.

General Producer Reward SP distribution

This column chart represents the distribution of Steem Power earned by witnesses over the last week.

Notice the dramatic drop past the rank 20. Remember, each round is composed of each of the Top20 witnesses and one backup witness. This means each Top20 witness has to sign a block every 63 seconds (max), while for a backup witness, it will be much less often. The servers of the Top20 witnesses are thus under higher load/stress than those of the backup witnesses. You need to keep this in mind when looking at their number of missed blocks: 10 missed blocks for a witness at rank 10 does not mean the same as 10 missed blocks for a witness at rank 120 for example.

Producer Reward Report

• Time range: 2018-10-01 00:00:01 to 2018-10-07 23:59:59 UTC
• Average price of 1 STEEM as of today: 0.81 USD (source: median history price from the witness feeds)
• Note: Higher ranked STEEM Witnesses does not always mean higher reward. A high rank and low block production might be sign of of technical difficulty leading to missed blocks or that the witness node was down for maintenance for a certain period of time.

Steem Power distribution by active rank tier.

Top20: ordered by SP earned - Total of 37111.43 SP earned

Active Rank 21-40: ordered by SP earned - Total of 5471.20 SP earned

Active Rank 41-60: ordered by SP earned - Total of 2185.87 SP earned

Active Rank 61-80: ordered by SP earned - Total of 1030.92 SP earned

Active Rank 81-100: ordered by SP earned - Total of 645.82 SP earned

Active Rank 101-120: ordered by SP earned - Total of 297.03 SP earned

Under 120: ordered by SP earned - Total of 97.28 SP earned

All tiers combined ordered by SP earned - Total of 46839.56 SP earned

Here is the full report from all active STEEM Witnesses. Please also take this opportunity to see what they do for the community and cast a vote for them in order to help the platform.

Reminder: the verage price of 1 STEEM as of today is 0.862 USD (source: median history price from the witness feeds)

• Note 1: Blocks can be missed for various reasons including technical issues, misconfiguration, bugs in a new version of the blockchain software etc... and the higher your rank, the higher the chance it can happen.
• Note 2: some witnesses are managing multiple projects for Steem and the communities in addition to maintaining their various nodes and hence don't often post.
• Note 3: click on the witness names to get to their witness announcement post.

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My other contributions

• Steemed Phish - Anti-phishing browser extension
• Dockerizing Dtube Community Support
• Dockerizing DiscoSteem Bot
• Supporting "A Dollar A Day" project
• @teamvn, a community bot to help grow the Vietnamese community
• POCKET-JS Confirmer
• Witness Update 2018-07-30 - Team Australia's Skippy Bot

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Credits

• The image at the top has been generated with the Canva app using my own photo.