Author Topic: What is SPoS? We need to change the mechanism of the BTS witness!  (Read 708 times)

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Online binggo

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We need to change the mechanism of the BTS witness, to improve the competition between the witness and voter turnout rate, and increase the holding desire of BTS.

We can learn something from the SPoS.

SPoS whitepaper: https://www.v.systems/pdf/sposwhitepaper.pdf
The Conditions of Becoming Supernode: https://github.com/virtualeconomy/v-systems/wiki/How-to-Deploy-Supernodes-in-V-Systems-Blockchain
https://www.v.systems/


« Last Edit: April 27, 2019, 08:14:52 am by binggo »

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #1 on: April 26, 2019, 02:33:11 pm »
A witness is not a staking supernode.
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Offline Customminer

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #2 on: April 26, 2019, 02:35:01 pm »
This would be a large change to the economic system within BTS, currently BTS holders cannot stake their BTS in return for BTS from the reserve pool.

Online binggo

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #3 on: April 26, 2019, 02:37:21 pm »
A witness is not a staking supernode.

Let it be it

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #4 on: April 26, 2019, 02:49:10 pm »
A witness is not a staking supernode.

Let it be it

Why? Witnesses already get paid for their role.

Online binggo

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #5 on: April 27, 2019, 12:05:02 am »
A witness is not a staking supernode.

Let it be it

Why? Witnesses already get paid for their role.

Benefit will change everything.

BTS holders should get return from the whole system and need to encourage them to vote the witness, every bts holder who want to become one part of the witness, and should get the reward from the minting, not only the witness.

Offline Thul3

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #6 on: April 27, 2019, 01:01:24 am »
Quote
every bts holder who want to become one part of the witness, and should get the reward from the minting, not only the witness.

This would make that people would only vote for active witness
non active = no reward

Online binggo

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #7 on: April 27, 2019, 01:07:16 am »
Quote
every bts holder who want to become one part of the witness, and should get the reward from the minting, not only the witness.

This would make that people would only vote for active witness
non active = no reward

Yes, benefit will change everything, nothing can change this,

if the non active witness want get the support of bts holder, he must be the best to become the active witness, to expand the market for the benefit, take more reward to the supporter.

non active=no reward, yes, this is what should be.
« Last Edit: April 27, 2019, 01:22:24 am by binggo »

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #8 on: April 27, 2019, 08:08:42 am »
This provides incentive for centralization - fewer witnesses means higher income per witness. Like @Thul3 said, nobody will vote new witness in, people will just vote for those that are active anyway.

It's the opposite of what we want.
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Online binggo

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Re: What is SPoS? We need to change the mechanism of the BTS witness!
« Reply #9 on: April 27, 2019, 08:33:28 am »
This provides incentive for centralization - fewer witnesses means higher income per witness. Like @Thul3 said, nobody will vote new witness in, people will just vote for those that are active anyway.

It's the opposite of what we want.

I don't think so, BTS was more centralization in the mechanism of the witness.

how many qualified witness did bts have?

how can i know these witness was not controlled by one or two account or big proxy?

how about the bts voter turnout rate?

We should read and understand the SPoS more carefully, and take a deep thinking of it.
We should't just take a quick overview of it and say “we are better than it,they are centralization“.