Coup d'etat: a hostile takeover of the network like Sun Yuchen(Justin's real name) did in the first day by filling the whole Security Council(How I call the Top 20 witnesses) with his minion-witnesses;
Civil War: the current state of Steem where two parties fight for control of a Blockchain that supposed to be secure against centralizing authorities. One side has 20 minion-witnesses servicing a single entity while the other is a coalition of almost everybody else.
I posted about this same subject before but here I think those ideas can have larger impact as I want to see people discussing them and developers to consider them when preparing the next HF.
The Proposals:
Vote Dilution
- The idea is to divide the value of a witness vote by the amount of voted witnesses.
- If you have
20 SPand vote for one witness, it's a20 SPfor it. - If you vote for 5 witnesses, it's a
4 SPvote for each. - If you vote for 20 witnesses, each gets a
1 SPvote.
- If you have
- With such mechanism in place, a new takeover attempt would be as hard as accumulating 20 times more SP than the whole Steem community.
- The more witnesses you vote, less value your vote has to each of them.
- A giant whale like
@steemit would be able to put one or two witnesses in the Security Council, but with each witness the difficulty to insert the next increases exponentially.
Vote Expiration
- The idea is to make votes for witnesses expire after a while.
- The idea is to prevent dead accounts from influencing Steem GovernanceTM.
- Votes are automatically uncasted after a year.
- Can be 6 months, 54 weeks, whatever time developers think is more adequate.
- Votes can be renewed before expiration, resetting the expiration clock.
- Vote renewal before expiration shows the user is still active.
- Proxy setup does not expire.
- Good for cold storages.
- But every proxy-chain must have an active user at the end of it, because his votes will still expire when not renewed.
Chronological Protection
Personally I don think this is important, but no harm in sharing an idea.
- The idea is to prevent another hostile Blitzkrieg from happening to Steem.
- All SP influencing the account, acquired by either Power Up of Delegation should have a 2.5-day gap before beginning to affect Witness vote positively;
- Power-down, undelegation or uncasted votes have immediate effect on witnesses.
- In case of Vote Expiration proposal above being implemented, vote renewal shall suffer no effect from Chronological Protection. Only votes casted or when they are recasted after expiration.
I am sorry if I made any grammar mistake. English is not my first language.
Sorry if I also said anything that might sound stupid above. It was not my intention.