i think you all should read this article. Vitalik Buterin is writing about DPOS and hits the nail.
https://vitalik.ca/general/2018/03/28/plutocracy.htmli agree with him and hope that lisk is searching for a solution.
if you dont want to read the hole text read the quotes at least.
Now, some candidates will want to secure their position by sharing more; by sharing 2%, you are likely to get twice as many votes as those that share 1%, as that’s the equilibrium point where voting for you has the same payout as voting for anyone else. The extra guarantee of being elected that this gives is definitely worth losing an additional 1% of your revenue when you do get elected. We can expect delegates to bid up their bribes and eventually share something close to 100% of their revenue. So the outcome seems to be that the delegate payouts are largely simply returned to voters, making the delegate payout mechanism close to meaningless.
But it gets worse. At this point, there’s an incentive for delegates to form alliances (aka political parties, aka cartels) to coordinate their share percentages; this reduces losses to the cartel from chaotic competition that accidentally leads to some delegates not getting enough votes.
The flaw in all of this, of course, is that the average voter has only a very small chance of impacting which delegates get selected, and so they only have a very small incentive to vote based on any of these high-minded and lofty goals;
And after reading think about what Elite and GDP are doing.
And what about robinhood?
If a cartel equilibrium does not form, then an attacker can simply offer a share percentage slightly higher than 100% (perhaps using fee sharing or some kind of “starter promotion” as justification), capture the majority of delegate positions, and then start an attack.
ah yes, more and more members....
You want to get a big part of the cake ? Support the Sherwood fellows :
- Robinhood (100% sharing)
- LiberSpirita (50% sharing)
- Liskpro.com (80% sharing)
And don't forget our brand new Sherwood associates :
- 4fryn (will share 60%)
- Bitbanksy (will share 60%)
- BloqSpace.io (will share 60%)