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General Discussion / Re: exchange preparing for voting
« on: January 10, 2016, 11:15:44 pm »I think the negative publicity is greater that it only takes 15% stake to attack Bitshares than the fact that exchanges would have a large war chest to vote with.
They wouldn't necessarily be forging blocks anyways.. unless they happened to get voted in as a delegate. As stated upthread, maybe this would spur more people to use the DEX as well.
But the point is, the exchanges are *the* most likely candidates to abuse that voting power; they expended no capital to acquire the power, they can do whatever they like with it. This is a fundamental problem with (D)POS, the only thing we can do is try and have them uphold the social contract of not voting in the first place.
Hmm. Good point.
What if we added the ability for vote for a different proxy with different percentages of your stake. Then we would need to make a social contact... such as an exchange should vote with 25% of their stake for the top 4 proxies (25% each) so it balances out the voting power among multiple individuals. The stake they contribute should not count towards that amount of votes considered to be the top 4 proxies.
Or... something similar to what was said up thread... that the votes be split among all of the committee members.
Or.. maybe a better idea.... a "stakeholder" proxy option. For example, if an exchange had 1% stake then that voting power should be split in between all of the remaining 99% of stakeholders evenly. This eliminates politics from the equation, and at the same time makes the network safer.
I've seen you are participating in Anonymint's consensus algorithm discussion on BCT... I am looking forward to reading that thread but haven't had time. Is there anything useful you think could be implemented/tweaked in dPoS to improve it?