Decentralizing in Spite of Pareto Principle, Dan's proposal for EOS voting system.
After the long discussions on how to improve the voting system on the EOS mainnet. Dan has recently published a new article that summarizes the concepts previously exposed on Telegram.
In the article Dan exposes the problems of every type of Consensus mechanisms arising from the Pareto principle, according to which 20% of people hold 80% of the wealth.
Precisely because of the Pareto principle, the Consensus mechanisms tend to centralize the control of a blockchain in the hands of a few. With his new proposal Dan wants to limit the influence of the Pareto principle, through Multiple Independent Pareto Distributions:
"Each Pareto distribution centralizes control into a few parties who have natural strengths; however, if you utilize multiple independent or ideally mutually exclusive measurements, then you can multiply the level of decentralization by the number of Pareto distributions."
How can Multiple Independent Pareto Distributions be implemented on the EOS mainnet?
1. Giving RAM Voting Weight
2. Giving Stake-Time Voting Weight
3. Infinite Stake-Time Voting Weight
4. Rewarding Non-Voting Users
Dan wants to divide the 21 producers into 4 categories:
- 8 producers voted by EOS Staked^2
- 8 producers voted by Days staked * EOS staked^2
- 3 producers voted by RAM holders
- 2 producers voted by (avg EOS burned / Day)
Read more:
https://medium.com/@bytemaster/decentralizing-in-spite-of-pareto-principle-eda86bb8228b?sk=fc70524065b1cbded7f1462a4b87508f