Vote decay leads to loss of 150m votes of EOS block producers

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August 17, 2018 by
Vote decay leads to loss of 150m votes of EOS block producers

There has been an increase in EOS vote decay. As per the data which was given from the EOS Authority, an EOS founding block producer based in UK, it has been seen that during the time of writing block producers have lost more than 150 million votes or to be more precise 4.5 percent of the total votes cast.

See also: Bitfinex, EOS [EOS] join hands to build dapp Eosfinex, Bipanda offers EOS for cash

The EOS which was launched in June, the votes of 21 block producers were casted in order to make them a part of the network. In short the block producers are given the charge of running the EOS blockchain.

The advantages of the block producers is that they can vote according to their time i.e. either during entry or exsit. On the other hand the mechanism which EOS has it allows the voters its voters to confirm their votes every week in order to maintain a maximum voting influence.

Define Vote Decay

Voting power decays is termed as when the voters do not keep their votes up to date. The motive behind vote decay mechanism is to make sure that they check their votes rather than not voting anymore.

If the users fail to recast their votes voting influence rate will fall and it may also happen that it can cease after two years. To keep it active votes need to be castes at least once in a week.

The mechanism notes down that block producers remain efficient. Automated voting votes are a strict No.

This facility allows to know which person is responsible for running the EOS network.

What is stack and unstake token

A certain amount of votes are received by the users which depend on how many tokens they have staked. For instance, , if an account has stake 40 tokens, the vote of the user of that account will have a power of 40

Staked tokens may be defined as how much bandwidth a user is guaranteed across to the EOS network.

The maximum a user can vote is 30 block producers. It is to be noted that the influence of the votes is not shared between the block producers that the user has voted for.

See also: EOS Blockchain breaks two records in 24 hours

If one has staked 40 tokens and has voted for 20 block producers, each will get 40 votes in their respective favour.

The process for voting for the block producers is a never ending process, as any one of them can lose which depends upon both the performance and their vote.

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