Do you know what this means? It's worth our while to explore and investigate. This is how Steem and Steemit platform function here. This is a form of Representative Democracy. Other crypto examples include Bitshares and Ark.
Example of DPoS as Governance Model:
System requires Trust, Efficiency, Effectiveness, Robustness and Speed
Look at how Steemit is set up with Steem-Witnesses:
Each Account holder has Votes for Steem-Witnesses. The witnesses function as 'delegates' that are responsible for the overall vitality of the Network/blockchain.
Having a somewhat small concentrated number of delegates/witnesses, enables a high performance level of effectiveness in mining the blocks and general upkeep of the network/blockchain.
By having a focused amount of primary positions of responsibility for witnesses/delegates - trust can be created through a democratic practice. See it is in the delegates/witnesses interest to take care in doing best work as each witness/delegate has a vested interest in the overall communities best interest. This is a win/win. This works as a win/win because the incentives are effectively structured.
The voting process is a sort of 24/7 thing - meaning that each steemit user has so many votes...and one can utilize their votes at any time. This is quite cool in regards to keeping things moving effectively as a showcasing of 'self-governance' (for the people by the people)
Reflection:
In most countries today - democracy is questionable at best. Election for a leader every once in a proverbial blue moon. Obviously time frames very....but point being it's a populous voting all at the same time with just a few options....and then that's it for awhile...this is a kind of stagnation...dare i say 'staged' way of going about it - each person serving a primary role of importance should be voted by the populous/community. it can be regarded that most national governments are more confusing in nature than is necessary. It can be regarded that the effectiveness of most national governments is less than effective in serving the best interests of the nations.
Steemit and Steem here is one clear example....granted we are still in early days - of a governance model, Delegated Proof of Stake - which can be simply regarded as a form of 'self-governance' where best case participation and performance is incentivized. This model encompasses the principles of Austrian Economics. Which, keeps things operating at a high level and standard of excellence.
we are making history here in unprecedented ways - this is indeed a social experiment on a global level and the research will indeed be a stepping stone of support in substantiating and integrating "Common Sense" principles of win/win mutual benefit incentivized actions of performance. Obviously their will be challenges...adversity along the way, as this is a real time physical living education process being walked and each User here is a participant in creating the Outcome. Remembering and recognizing that this is a relatively new process - supports with patience, flexibility and open mindedness within and without as our very own internal and external self-reflections.
Structure of Support
"Robustness" is the Key Word Here.
The quality and or condition of being strong and in good condition.
The ability to withstand and/or overcome adverse conditions and/or rigorous testing.
What is Delegated Proof of Stake
You were there 15 min ago, maybe I am lucky to get an answer. Your Steem Power is at 100 and you are not voting... whats wrong? is it becuase the node is down?
Yes - because of the node.
All posts in the Queue have been Up voted as of right now :)
All the Best @ew-and-patterns
Thank You for working and playing @worldlclassplayer
I really like the Delegated Proof of Stake structure and feel it gives the opportunity to mirror what a real democratic society should operate as. I think this is why Dan is using the same structure with EOS. It in essence helps protect against manipulation and corruption by spreading the responsibility out across enough hands while also allowing members to cast individual votes for their witnesses or to simply assign a proxy. I feel this model is vastly superior to some other models other coins have instituted and as times passes I see more coins adopting a similar principle.
This is a really great comment.
Sorry i missed responding - i had gotten myself so busy with the upvoting exchange.
Spot On Brother!
I noticed with ethereum for instance that starting point incentive was focused on 'punishing bad behavior' where the incentive with steem, bitshares, eos is very much the opposite of that...rewarding, incentivizing the good behavior. Obviously the technical details can get quite techy into the specifics...but at the gist of it all - it really showcased to me the importance of "Starting point principle" and with the right starting point...reallly accommodate best support.
It's interesting because in a lot of instances it's just a small shift in thinking and it makes all the difference sometimes.
That such a good point on the incentivizing. Human nature is both angelic and beast. The side that gets fed the most strives. If you starve the beast, while feeding the Angelic , it weakens and the Angelica gets stronger. Though both are always present in our very nature.
As long as there are examples of good being profitable not just for goods sake but for success. More people will choose it. :)
That is one of the pluses of steemit :) Plus we choose what info gets shared. Though common sense is rare in the outside world. :)
we just got to make it (common sense) more tangible in the outside world.
I've been noticing...and finding analogies, especially sports one's super helpful in bringing common sense into community :)
Even if common sense is more apparent here on steemit...as a default it becomes more apparent in time everywhere else. Jedi's unite :)
But somebody have to pay the profit. Who is that, if here is not advertisment?
Thanks for Share. upvotes & like your post!
Thx for sharing big bro.. You know I am more of a caveman :P