Can we talk about DPOS or Delegated Proof of Stake and decentralization?
As the new year approaches, I think it’s good to think about why we are here and where are we going.
Question: is DPOS centralized until it isn’t’ centralized?
In the beginning…
- I am starting a conversational blog, to which I wish to add clarifying and educational comments and commentary.
DPOS or Delegated Proof of Stake
It appears to start, to me, as a centralized system with much of the value or tokens belonging to the earliest miners, investors, Staker’s, workers, insert category here who are early adopters and are rewarded, earn, buy, insert method/methods here large portions of Stake.
Those who join later, earn Hive through content curation and upvotes, content curation, as in upvoting the content of others or loaning their Stake to others to upvote content of others for a share of the upvote rewards, or insert method here
-Hive is created daily, and allocated to the witnesses who run nodes, the reward pool to be distributed to content creators, curators and insert category here*
- I think initially much Hive or any, most, all, insert appropriate word here is concentrated in the hands of a few at the beginning of the blockchain ledger…
- But as time goes on or as time passes more Hive is created and distributed to new content creators, content curators/upvotes both active and passive, witnesses, and insert category here who buy, earn or acquire Hive…
- I think this process of Hive production, Hive distribution creates an initially centralized concentration of Hive, but as more Hive is created eventually more Hive will have been created over time then existed in the beginning of Hive…
- This new Hive will be spent by the original Hive holders, sold or distributed to new Hive holders and accumulated by both old and new Hive holders..
- I think the general tendency will be towards distribution of Hive to more and more people , which is in effect decentralization…
- So is it centralized in the beginning and fated to become more decentralized over time?
- Or is it decentralized in the beginning and fated to become more decentralized over time?
- Or like Steem and Steemit does DPOS contain flaws which will always allow centralization to overtake the idea of decentralization through stake based control?
- …is Delegated Proof a form of democracy, which needs work?
- … is Delegated Proof of Stake a precursor to a DAO or decentralized autonomous organization or are they apples and oranges? As in related things performing or developed for different purposes?
Let’s talk about it…
I am not an expert and simply wish to learn more.
