This post is just for the purpose of discussion. I’m not saying that witnesses should or should not share their reward with the ones who elected them. I really don’t know. Just trying to make a discussion.
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The witness voting is a bit random on Steem. Everyone has 30 votes and can use them as they wish. The majority of the accounts probably don’t bother much about witness voting. Especially the ones with low SP. As you get more SP and more influence probably you will start looking to whom to give your trust to. And the thing is there is 30 votes to give.
Now the next question is to whom to vote for? You may have heard for some of the witnesses and know some very few facts vote for them. Other then this I really don’t know how people decide who to vote for. The big boy’s aka whales probably have more facts when they do there voting.
TRON Block producers (Witnesses) are sharing their rewards with the ones voting for them
Yes, the Tron Block producers are sharing their rewards with the ones voting for them. Sometimes in a different token. There is a different ratio how much of the rewards will be shared with the voters. Some share it all, some a part of it.
Witnesses are very important!
Yes, witnesses are the ones who maintain the system. They are the key element for the blockchain to work and are of systemic importance. No witnesses and it means that the blockchain is in danger.
How much are the witnesses earning
According to the reports from the top 20 witnesses are earning around 2160 STEEM per week. That is just above 9k STEEM per month. In todays prices 0,41$ per STEEM it is around 3700$ per month. Is this enough to run a witness server. I don’t know. If there is someone to give more info on this please do.
This is not a large sum of money, but it is something that for the regular Steem user can be hard to achieve.
But what if the price of STEEM is 4$? The witnesses earnings will be 10 times the ones that are now. Will then they will be able to share something? Probably yes.
Let the market decide who will be a witness
This is probably the main point of the post. I find the witness voting clumsy and without incentive for the regular user. Why should I bother to vote for witness at all? Ok maybe there is something cool that the witness is doing but is this enough. We all know that the financial incentive can do a lot.
I have mentioned more then ones that I don’t know is running a witness server is profitable at these prices. Also having a reliable witness is of essence of the blockchain as they do the most fundamental job and secure the blockchain. They should be rewarded for that.
Since we don’t have any witnesses that are offering to share their reward with the community at the moment maybe this means that it is not possible in the moment. Probably this is the case. But will it still be if the price of Steem is 10x from what is now?