Steem Blockchain has a major Problem and maybe the Solution is pretty easy...
The Problem:
If someone with a lot of money joins the Steem and powers up, he can gain a lot of influence just because of his money. Since Justin Sun's attemp to take over the Blockchain, we know that this is not a good idea. There are a few solutions to this that i can think of...
- Only allow 3 Witness Votes per Accout
- Reduce vote Impact of big Players to only have a max. of lets say 5% influence per Player on the Community Voting. (This means you would need a lot of big Players to start a revolution)
- Reduce vote Impact of new Accounts with very large Powerups.
I think it could be a good idea to combine these ideas into one Rule. We can't just trust a new Account. New Accounts need to prove their Value and Trust to the Community.
Money != Trust!
A combination of Reputation, Account age, difference of SP before Powerup and the actual SP and maybe even more indicators could be used to make a rule that is fair for everyone in the Community and prevents Exchange / big Player Votes to have that much impact. Trust need to be built over time and also interaction with the community is a big indicator. If investors dont want to communitcate with the community thats ok, but it means they deserve less trust and i think thats a good idea and just fair.
The solution could look something like this:
Real Votepower = SP + Acc. Age in Days - SP Difference * Reputation / active Users.
The idea behind / active Users is, that if the network is not used, its not worth to protect it and therefore if someone wants to, he can take it over. The more active users we have, the more secure it is from these kind of attacks.
This is just a rough idea and we probably need to find a better formula. But i would be very happy if a few smart people think about this. Maybe my input gives you an even better idea?
Thanks for reading and taking some time!
And as always...