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RE: How Vote Incentivization Degrades Delegated Proof of Stake

in #dpos2 years ago

even with full fledged vote buying, there are people who are incorruptible, and people who will vote against their own self interest in an altruistic fashion.

To some people money is not everything. I vote for witnesses who have impacted great values to many either through upvoting contents, social interaction on steemit, contest and bounty offers or by creating quality content that enriches life and promote steemit.

Could we actually envision a model working with zero reward, and only altruism?

Not totally since humans must be humans (Always wanting to win by any means). but if the witnesses are being monitored i think it will go a long way to savage the corruption in the sysytem. Finally, if the system can hide the voters identity it will not allow rewards as there willbe no prove for reward. Thank you, this post was an eye opener for me.

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That's the way to do it! Choose the witnesses that offer the best security, and the best created value for the whole platform. That's how we ensure success of the system.

Interesting point regarding hiding the voters. That's something done in many ballot systems in the real world, so that there is no way to prove you voted in a certain way. However, I am not sure it would be possible on a blockchain, since the entire point of a blockchain is the trust-free ability to prove ownership with your keys. If you can prove you made a transaction, you could then prove to the person that you voted for, that you voted for them, and ask them for your reward. But if there is a way to hide it, that would be cool!

i get your piont