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RE: Ensuring Fair Block Producer Voting
When you deposit or hold tokens on an exchange, your tokens are put into a shared wallet that the exchange controls, along with everyone else’s tokens. This gives large exchanges, such as Huobi and Bitfinex direct control over an enormous amount of voting power.
I was under the impression that EOS was going to have a staking system like Steem so that only locked up tokens could participate in voting.
I think this is true
but it is not answering the concern
when you transfer your EOS from your wallet to the exchange wallet you give them your EOS, so you can not stake them at that time while they are in the exchange account; yes they should allow you to retreive them at any time but they could still cast a big chunk of those EOS for a vote.
it is exactly what banks do, they take your money, and they use them, and you can retrieve them any time you want because they know not all people will withdraw their money at the same time, if they will attempt to do so a bank can go bankrupt (I am assuming here) or at least it will be in big trouble.
so I guess right now the only way for the EOS community to avoid this kind of problems is to not give votes to the BPs that are exchanges.
Sure, probably the policing would be community driven. People would see an exchange using deposits for voting and then vote them out, stop using them, whatever. It will be interesting to see how it plays out.
I haven't had a chance to see how evolution thinks they're going to solve the problem. Their marketing materials seem to imply that they have some whiz-bang approach to preventing collusion, but that is usually easier said than done.
Their marketing materials seem to imply that they have some whiz-bang approach to preventing collusion, but that is usually easier said than done
how they prevent it??
I think I read somewhere that they think that they can prevent it by verifying the identities of their voters, and then requiring that no account votes for more than one block producer. Or something like that.