DPoS - An idea to incentivize informed voter participation

2년 전

I've been reading the Eos governance chat on telegram. It's a great channel! The discussion recently turned to voter participation and how to incentivize it. For background on that see Dan's article

https://steemit.com/eos/@dan/reponse-to-vitalik-s-written-remarks

Anyway here is an idea that I thought I'd copy across to steemit to keep a record of it and add a bit more detail.

Firstly Eos could publish an agreed measure for the health of the platform. This measure could be derived from things like voter participation, network capacity, latency, ipfs storage, utilisation. Eos's vital statistics. This measure should be fairly easy to agree upon and could evolve if needed.

Then based off this measure an Eos community contract receives rewards. As the network's health increases so does the value awarded to the community contract. So by participating in voting you are also fund raising for the community contract. By voting out a poor block producer you not only improve the health of the network but also increase the value awarded to the community contract.

So now we just have to work out what this community contract might do that would not be for personal gain but still be something that everyone could get excited about. While improving the system's vital statistics you are also fund raising for something that could have a more direct moral purpose. When the system's health degrades you might even try to convince others to help improve it again because you really care about that community contract. Does it just relocate the problem or is the fund raising aspect something that could appeal to human nature?

The contract represents the common values that the community on the platform share, that the community coalesces around. It's not just a platform, the platform is the substrate, the enabler, the body of the community and it needs to be healthy for the community contract to be healthy.

Because the reward to the community contract is tied to platform health you need to cast your vote wisely.

If you don't know what a community contract is from my understanding it is a contract that can receive block rewards and distribute those rewards according to the preferences of the Eos token holders.

What do you think? Could it help?

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That is a great idea.

Health of EOS platform based on markers:

  • voter participation: that would be a good measure
  • network capacity: this might not be a fair measure in the beginning, unless the measure took into account a prediction of the capacity as the platform develops. Even then, there has never been anything like EOS, so it might be harder to predict
  • latency: perfect quantify the best block producers
  • ipfs storage: good measure against block producers
  • utilisation: same as network capacity

So community will be aligned with the overall state of the network and want more of the 5% inflation funds in this community contract. The block producers will want more of the 5% inflation funds for themselves so they might not be aligned with this proposal. However, if they are not aligned, they will get voted out as they will be low performing block producers. So I think this would work :)

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I was later thinking that the price of the Eos token would be a good enough proxy for the health of the network. Dan often says markets will manage the incentives. But that would assume that the markets for the token are rational and not manipulated and other factors could influence price movements as well, like dapps entering or leaving the platform. So I am still tending towards the idea of calculating the network health since that is what voter participation is all about. I also wouldn't mind if all this was done in the protocol itself. So the split between block producers and community contracts was voted on by stake holders . But I need to think about the consequences of that a whole lot more!

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If you check out the EOS governance @thomasbcox poses great questions about mandatory or optional voting, which definitely affect what we have been talking about here.

True, the EOS token would be good proxy. But I think only once EOS matures and stabilises with all the equivalent centralized applications as dapps e.g. airbnb, netflix, facebook, reddit. I cannot wait.

Thanks for sharing your ideas.

i learn something from your post.love to read it.
Thanks for sharing important post

It has been interesting to follow about the eos development and the concept of parallel and blockchain technology

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It is. Eos looks like it could change everything! Well maybe not quite everything...

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Yup till the further development

I notice that you didn't posting since a long time i read your posts i found it great posts and hope you posting something new soon and hope everything goes alright with you.

Is there new posts coming ?

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Thanks so much @soufianechakrouf ! I did start a couple but I need to finish them. Everything is good with me and thanks for asking. Hope things are going well for you too. I'm like your photos!

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Happy to know that everything goes well with you im doing good too and thank you very much i appreciate it so much it supports me