Since today is Hive Power Up Day(HivePUD), wouldn't it be a good time to check the Hive witnesses you have voted for in the past???
Take a few minutes and update that list as it is of importance for the smooth running and governance of the Hive blockchain.
It would be bad if you powered up and you are just adding on the already wasted 62M HP, you will get to know about this wasted HP later in the post
Now the figure 62M HP might only apply to me and you might also come upwith your own analysis according to your witneseses.
I remember sometime back writing a post whereby I was shocked because my 100HP was held up by a project that died out 2 fucking years ago!!!
Yes, you read that right, I had delegated my meagre 100HP to a project which I thought was still active only to discover that it had died out 2 years ago.
I know that some of you here too might be delegating your precious HP to dead projects, so better check that up and free your HP.
In today's post, I will be talking about Hive witness votes. This below shows my voted witnesses before I make an update by removing many inactive people.
I like visiting Hiveblocks a lot and it was today that I scrolled through my witness votes and I saw a familiar name @blueorgy!!
For the folks who joined here in 2017, then you must be knowing this folk, the moment I saw his name on my voted witnesses is when I knew I had to make an update.
I have really taken long without hearing from @blueorgy and guess what Hiveblocks shows that he has 1.8HP, yes less than 2 fucking Hive Power because he powered down everything and he was last active 20 days ago.
He also last posted on the blockchain 2 fucking years ago!!
Another person on the list is Jerry Banfield who also left the blockchain a long time ago, but unfortunately, my vote is still on his witness!
What Is a Hive Witness
You might be wondering what all this Hive Witness thing is and how it is important especially if you are a new person.
I will basically say these are the people we(Hive community) give responsibility to run or govern the blockchain smoothly!!
These folks(witnesses) ensure that the blockchain keeps running continuously or you can call them miners in relation to the bitcoin blockchain.
Let me now drop the technical definition as quoted from Hive FAQs
What are Hive witnesses?
The Hive blockchain requires a set of people to create blocks and uses a consensus mechanism called delegated proof of stake, or DPOS. The community elects 'witnesses' to act as the network's block producers and governance body. There are 20 full-time witnesses, producing a block every 63-second round. A 21st position is shared by the backup witnesses, who are scheduled proportionally to the amount of stake-weighted community approval they have. Witnesses are compensated with Hive Power for each block they create.
You can now choose the definition(mine or technical one) that suits you hahaha, remember each Hive account can vote up to 30 witnesses only.
You might also be wondering how do I vote for these witnesses, just go to this Hive witness link where you will be required to sign in to your Hive wallet.
If you have not updated your list, I would advise you to remove inactive accounts and replace them with people helping the development of Hive like @blocktrades, @aggroed, @good-karma @nathanmars @leofinance and others you deem fit.
I am so ashamed because I did not know that @Nathanmars is a witness, so shameful of me.
I will be adding him, @leofinance and others shortly after I have vetted my list.
I know my vote might carry no significance at all, but I am writing this post for the whales who might have become busy and forgotten to update their votes.
Disabled Hive Witnesses
So in my analysis, I realized that 9 Hive witnesses I voted for have their servers disabled, some as far as three years ago as listed below.
@roadscape(3 years)
@blueorgy and @jerybanfield(2 years)
@teamsteem(18 months)
@reggaemuffin(14 months)
@oracle-d(17 months)
@netuoso(1 month)
@nextgencrypto(8 months)
@steemgigs is not disable but has not produced a block for over a wek and last price feed was 7 months ago!!
You remember the title of this post? Do not let your Hive Power be among the wasted 62M HP, yes I will show you the calculation shortly and why it is a waste!
When you add up the total of the Hive Power by these disabled witness, it comes to a whopping 62M!!
The biggest disabled witness with highest votes HP is @netuoso wIth a whooping 28HP, the closest is @nextgencryto.
The total HP of disabled witnesses is 62M HP, all gone to waste!!
I count the 62M HP as a waste because these witnesses are not adding any value to the blockchain because their servers are disabled.
If we all take initiative and unvote these folks and rechannle the votes to an active witness, it would be good for the blockchain and community as a whole.
So I have removed(unvoted) all the disabled witness by just clicking on the vote button and this is what shows to confirm
I have successfully removed all the 9 disabled witnesses, you will need to add your active key to Keychain for this operation.
You can always remove the active key after the voting process.
Added Hive Witneses
I have decided to add these witnesses on top of my previous active ones and these new ones are familiar names
@nathanmars
@actifit
@threespeak
@leofinance
So I now have a total of 23 witnesses as can be viewed publicly on Hive blocks
Again my vote might be of less importance, but I urge all the big HP holders to take time and update their witness votes and choose the people helping Hive grow.
I highly recommend this activity to all the people with high HP and also people who did the Hive Power Up day today(01/03/2021) or yesterday(depending on your time zone)
So folks, go rescue part of that wasted 62m HP by unvoting the disabled witnesses.
Love
Jarau Moses
Posted Using LeoFinance Beta
I appreciate it bro!
Posted Using LeoFinance Beta
Totally your fault =) LOL
Just passed by and figured I could just update this post by saying that now there is vote decaying which will effectively remove any votes from witnesses if you don't update your vote regularly.
Posted Using LeoFinance Beta