What is the biggest predictable problem of the current crypto currency infrastructure?
When you forecast ahead it is easy to see that a major distinction needs to be made on how networks will survive in the future.
I break it down like this:
- You have network providers (witnesses / miners)
- You have users (everyone else)
In delegated proof of work systems the network providers have all the "voting power" and charge fees to utilize, because they are paying the cost associated with supporting the network. This is normal and should be expected in a free economy.
This creates logistical and geographical problems with having concentrated "production power" with the "governing power." These two "powers" should be split entities to maintain harmony in the system.
In a delegated proof of stake system the voting power of a large producer can be delegated to a trusted party to vote on their behalf. This helps create alignment with voting quality and financial incentive!
This means any DPOS projects that are out there or coming along that are near the top 50 or better coins, I'm going to be having my eye on.
By the way, STEEM is a DPOS coin and is far ahead of any other alternative for the time being. In programming land, even a year or so advantage to hit mass appeal can result in major financial gains. The coin has to solve some longer-term potential problems. There is quite a bit of confusion regarding long-term prospects that can be better cleared up. However, in the near to mid term Steem is looking great from where I'm sitting!
Excited to research more DPOS concepts and really committing my time there!
Thanks to the Steemit Community!