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RE: Steem: An In-Depth Overview!

in #steem7 years ago

I have read the Steemit white paper and I'm still curious about a lot of things there, among which is:

Steem witnesses are computers or nodes run by some Steemians. These are running 24/7.

I will like to know how the above is implemented without the computers breaking down at some points or how do the steem witnesses supervise the activity of their computer when they travel?

About this:

It takes 17/21 witnesses running the new version for it to be activated.

The above represents more than 2/3 of the top witnesses, which is good. However, in view of the new version. What if some of the top witnesses do not welcome what the new version tends to implement in the blockchain due to some sort of personal reasons, won't it delay the advancement of Steem? And what do you mean by "entice" in the upgrading to a new hardfork?

I find this somewhat confusing:

There is no limit to how many votes someone can cast but to maximize curation reward one should currently cast around 40 votes a day at 100% and 10 votes at 100% with hardfork 0.19.

Meanwhile, I have a question regarding voting and Steempower please. Does voting power as at time of voting influence curation reward? To illustrate: I know the value of 100% upvotes decrease with number of votes one make. Now, assuming I vote 100% on 5 of Karen's post in a day at 30mins after her post, and all the 5 posts earn a total of say 43 or 45Sbds, will my curation reward be the same?

More of my confusions is in this:

.50% of content rewards are paid in Steem Power the rest are Steem and SBD.

I interpret that statement to me that for the said 75% author reward (though not exactly accurate most times, another confusion), 50% should be in sbd and the other 50% of the reward should be in Sp worth of 50% Steem assumed powered up at the post payout time. Can you explain more in layman's term please.

I wish I can fully understand how cryptocurrencies work. I am thankful to you for the links to your works. I will appreciate your reply on this.

Thanks.

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What if some of the top witnesses do not welcome what the new version tends to implement in the blockchain due to some sort of personal reasons, won't it delay the advancement of Steem?

It's better to be over cautious with updates than be zealots and risks too much.

Does voting power as at time of voting influence curation reward?

Yes but you shouldn't mind as your curation reward are probably too low for you to really mind about them.

Yes but you shouldn't mind as your curation reward are probably too low for you to really mind about them.

Lol. I will grow with time. 😀🙈😀