Should STEEM have witness vote decay?

Asked by emrebeyler
View in Steemit

Witness voting is the most important aspect of STEEM blockchain.

Quoting @teamsteem's recent post:

> Witness vote decay consists of a rate at which witness votes lose their weight/influence. So let say we introduce a witness vote decay of 1% per week then every week after someone voted for a witness their vote would lose 1% of their influence until they would recast that vote. After 1 year a vote will have lost 52% of its influence if it hasn't been recast.

If you're a new witness, one thing that probably bug you out is that heavy stake holders do not change their witness votes, much.

I am not sure that's a bad thing in general. If you're one of the old witnesses and still stay relevant, gaining a first mover advantage sounds like fair to me.


Another problem I can see that with the witness vote decay is the auto-revote services. Let's be honest, people don't want to spend their time to explore witnesses and evaluate their work, so most of the people will choose the shortcut, use potential new services like that, or doesn't cast a witness vote at all.

That being said, having a witness vote decay/expiry may actually hurt the current witness voting participation in the network.

What do you think about the witness vote decay? Should we have it?

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Yes (58.33%) 7 / 12
58.33% Complete (success)
Neutral (25.0%) 3 / 12
25.0% Complete (success)
No (16.67%) 2 / 12
16.67% Complete (success)