hellow guys! I am sharing here an information about Steem's Harfork20!
(https://steemitimages.com/0x0/https://cdn.steemitimages.com/DQmRhktFHS8rNcSAVTFpVuVEvUq785cRs2KteixFK1qg4Nt/HF20%20thumb.jpg)
Hardfork20 is coming its way to Steemit and I'm hoping this will help us average users understand more about this significant change in the platform. In case I missed some of the important changes, feel free to comment to so I can add it in this post. Steem On! Please tag others.
- Steem Hardfork 20 is scheduled to take effect on Tuesday, September 25 at 11:00 EST. It's 11:00 P.M. in the Philippines.
- Curation Window will be changed from 30 to 15 mins - allowing users who discover contents early (especially if it gets trending) gets a big chunk of curation rewards.
- You can now comment every 3 seconds (from 20 second comment cool down).
- Delegation cooldown period will be changed from 7 days to 5 days.
- We will likely be receiving SBD rewards soon because the debt ratio will be increased from 2-5% to 9-10%. Unlike now, we're receiving 100% Steem.
- Curation rewards via self-voting(which happens when a user immediately upvotes his post) cannot be claimed anymore . Instead it gets back to the rewards pool - thereby increasing the overall percentage of rewards paid to curators.
- You can no longer create accounts using delegation (e.g. using [steeminvite](https://www.steeminvite.com)).
A little bit technical changes
- Dust votes (votes that are extremely weak, having close to zero vote value) will be rejected by the blockchain. However, votes can still be made but your Resource Credits gets compromised (be careful with this).
- Account Creation (instant) will be more likely be 3.0 Steem but it will be burned via @null account which means new accounts will have 0 Steem Power but can still interact in Steemit by the Resource Credits they get equivalent to 3 Steem.
- Bandwidth system will be changed to Resource Credits system (RC) which means in every transaction (upvote, comment, post, resteem, transfers, etc.) is made by an account, our Resource Credit decreases (the same as our Bandwidth). Our amount of RC depends on the Stake we have in the platform (in the form of Steem Power). RC replenishes over time.
- Resource Credits is better than bandwidth system because 1.) It provides a better user experience for new users as this will solve their woes in terms of preventing them from interacting in the platform(they can now engage more in their early stage). 2.) It is technically efficient (in estimation and computation) in calculating the **"true cost"** of a transaction. 3.) RCs will be helpful in creating discounted accounts.
Information credits:
https://steemit.com/hf20/@jassennessaj/a-summary-of-the-important-changes-with-hardfork-20-for-us-average-users
https://steemit.com/steem/@steemitblog/steem-velocity-hardfork-hardfork-20