BitShares Forum

Main => Stakeholder Proposals => Topic started by: lafona on July 14, 2015, 01:14:21 am

Title: Do fees currently go to delegates or are they all burned?
Post by: lafona on July 14, 2015, 01:14:21 am

I just have a question about where the fees go once they are collected. At one point I remember them being all burned, then I thought they were added to delegate pay to give it a little boost. In the latter case a 100% delegate would actually receive 50 BTS+ (some amount from fees) per block produced. Is this still the case? Thanks

Title: Re: Do fees currently go to delegates or are they all burned?
Post by: bytemaster on July 14, 2015, 01:35:32 am

35% go to delegates

Title: Re: Do fees currently go to delegates or are they all burned?
Post by: brainbug on July 14, 2015, 05:10:24 am

General (maybe stupid) question: Would it make sense to increase the number of delegates (etc) to more than 101 ? Why not use 10000 of them? Wouldn't that change the odds of having trouble in the network?

Title: Re: Do fees currently go to delegates or are they all burned?
Post by: xeroc on July 14, 2015, 07:02:40 am

Quote from: brainbug on July 14, 2015, 05:10:24 am

General (maybe stupid) question: Would it make sense to increase the number of delegates (etc) to more than 101 ? Why not use 10000 of them? Wouldn't that change the odds of having trouble in the network?

a) in BitShares 2.0 the shareholders can decide for the "right" amount of delegates
b) please do not think that more delegates means more security. The reason is that once 51% of all delegates agreed to a chain (signed blocks in a row).. than we effectively have a checkpoint (a state that cannot be changed, i.e. non-reversable) ... with 1000 delegates you will need to wait for 501 delegates to sign blocks .. while with 101 you only need 52 .. taking 10 secs per block ... yada yada ...
c) though, an increased number of delegates would make collusion of delegates more difficult
d) it would not great trouble .. just an inconvenience for the end-user ..

Title: Re: Do fees currently go to delegates or are they all burned?
Post by: sittingduck on July 14, 2015, 12:36:58 pm

More witnesses means more money spent on redundancy. 


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Title: Re: Do fees currently go to delegates or are they all burned?
Post by: cylonmaker2053 on July 14, 2015, 12:52:33 pm

Quote from: sittingduck on July 14, 2015, 12:36:58 pm

More witnesses means more money spent on redundancy. 


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yeah, number of delegates is kind of an interesting optimization problem --resources to give incentive to fulfill the role, block processing speeds, the available supply of quality delegates, collusion probability, etc. i imagine the real sweet spot is much less than 101, but we'll see over time, esp if 2.0 adds flexibility to test what the market actually wants.