Vitalik Buterin .... "DPoS creates incentives for witnesses to form cartels and bribe voters ".
Bugger !.... I thought it was my sharp insights and cutting analytical mind that first brought up the philosophical weaknesses of DPoS (and, barring something innovative - guaranteeing failure).
And bugger, I say ! ...once more. These aren't 'new and groundbreaking insights', after all. It's been discussed for years.
And bugger! I say, again ( thrice now, no less !).
Is this the reason for abysmal growth and retention on hive /steem ?...(taking steem into consideration as it was the same dynamics, just different accounts).
there's also the very dark possibility of the voting to being all just algorithmic engineering - so as to guarantee that those in power, stay in power (mathematically calculated, and not difficult). If this was the case, then it would mean that no matter how hive tokens are apparently 'distributed', the majority will always* stay in the hands of an 'organized group', thus guaranteeing continued control of the platform.
i.e ....Is it, in fact - all smoke and mirrors?
(Could there also be serious legal ramifications by *knowingly partaking in this? ...I dunno, tbh ...but ya gotta love the blockchain for keeping records)
People hate corruption (except those who are corrupt and of a predatory mindset). The honest person does not knowingly 'opt in' to a corrupted system .
DPoS advocates are willingly blind to simple principles and ignore the reality that the healthy functioning of ethics, and the pivotal role that they play in a healthy, functioning, society.
Excerpts from the article...
This notion that DPoS is not truly decentralized may be the most notable criticism of all....power is still concentrated in the hands of a handful of users.
DPoS sacrifices decentralization for scalability, critics say.
**Vitalik Buterin, the founder of Ethereum, made headlines earlier this year when he argued that DPoS creates incentives for witnesses to form cartels and bribe voters*.
Nothing’s perfect, and DPoS has several flaws:
Delegates could form cartels:
Delegates can organize into cartels by concentrating the role of validation in a smaller number of hands. This not only makes it less decentralized, but it also makes it less resilient.
The rich may get richer:
People’s vote strength is determined by how many tokens they have, which means that people who own more tokens will influence the network more than people who own very few.
Apathy can kill:
Without a large number of engaged users, the system will not function as intended. (That’s a bit like any democracy or democratic republic.)
https://www.verypossible.com/insights/pros-and-cons-of-the-delegated-proof-of-stake-consensus-model
The Cryptograph:
“Skeptics pointed to their idiosyncratic DPOS (delegated proof of stake) consensus algorithm protocol as a potential cesspool for corruption and nefarious undertakings.”
My account is living proof of all the above being correct.
DPoS ? - Destructive Pile of Shite?
On the upside, blockchain technology - not DpoS - allows me to speak my truth. Which I will be doing. Both to people that have been here a while, and are unaware of the reality of things, and to new users who join - who are not aware of the reality of DPoS system, and how it plays out. People hate corruption (except those who are corrupt and of a predatory mindset).
An example of the many memes and articles I've put together...
....and in reply to a comment made by @bashadow
I also am an individual that believes in trying to fix things from the inside, and remodel rather than tearing something down and hoping someone will rebuild it in a better manner.
Beleive it or not - I am to. Why do you think I've never taken our dirty laundry 'off chain' for so long? Instead, I kept trying to raise these questions 'on platform'. Actions from the tyrants of Hive towars myself , have created the situation where voicing issues has become 'an act of heresy' to the church of Hive - which is totally absurd, and belies the weak position that 'they' know they're in(imo).
I also believe that you can not force people to take the blinders off that they have self imposed on themselves. There are not enough middle of the road people left in the world anymore, and until there are more the people are at the vagaries of all the little minded governments, whether it be the DPoS government on Hive or the Communist China government, or the resurging Nazi Party and mindset.
I agree.
You can educate people however - to the realities of a situation. This will - hopefully - lead back towards 'the middle of the road', and sensible thinking (which seems to have taken a holiday right now).
Silence to evil is not an option not if you have a moral compass and ethical principles.
Silence to evil is advocating for it.
I don't advocate for evil.
*Using power to quash free thinking and open discourse is an act of evil.
A structure that openly advocates for negative actions to be taken - against those people that do speak up - is - by extension, also evil.
