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RE: When witnesses turn into tyrants.

in #steem5 years ago

While we do need to change how witnesses are elected, as you point out, that would not have solved the problem the witnesses had: their positions were existentially threatened because @ned wasn't protecting them anymore, and Tron already has superrepresentatives.

There's ~210M Steem. @justinsunsteemit has ~100M of it. A lot of Steem doesn't vote for witnesses, because accounts have gone inactive, it's on exchanges, folks have lost their keys, and other reasons. This means that under any rational voting system, @justinsunsteemit can use that stake to replace the witnesses and undertake any HF he wants at any time.

Thems the facts, and Steem will be different after this is resolved. Either decentralized far more than it has been heretofore, or centralized as it always could have been.

Thanks!