BOID — EOS Proxy Voting Review — March 2019

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By Jamie Cupper
This review will cover the “1person1vote proposal and our rationale behind the boidcomproxy.

The “1person1vote” referendum

https://bloks.io/vote/referendums/1person1vote
It is worth noting that this is an exciting proposal, and it is something that other DPoS coins have successfully implemented. Lisk forks (in the main) keep the 101 votes, full vote weight applied to all 101 delegates. Ark changed that voting system from day one; thus all ark forks implemented and run the same one vote, one wallet system.

There were many reasons for this, the overriding factor was to reduce the Cartels that formed in Lisk, and it’s fork chains. Ark forked from Lisk, and a number of the Lisk team moved with Ark, as they didn’t agree with Lisks’ direction of travel.

It’s clear with in-voting and cartels controlling the delegates in play, it stifles the core teams ability to affect change and continue to develop and implement positive change for their chain. It also removes the fluidity of the delegates/block producers. If a delegate/block producer doesn’t secure the chain, stops paying out rewards, or doesn’t meet their commitments to voters, due to the multi-vote, weight system, it can take days, weeks and in some cases months for bad actors to be unvoted and therefore not to receive rewards.

“Fair competition refers to a free market in which all the players operate on a level playing field. Businesses base their competitive practices on price, quality and customer service rather than, for example, predatory pricing.”

Ark, for example, has created a system which is much less open to abuse, delegates positions are much more fluid, and if they fail to meet their commitments, then it’s very likely they will lose votes very quickly and drop from their active forging position.

Something that is nice about the 30 votes per token is that BPs are not afraid to work together on projects. There are many projects where 3–6 BPs might contribute in different ways; some are more tech-focused, while some are better at marketing.

So for that reason, our view would be to reduce the votes per token from 30 to 5, which still fosters collaboration amongst BPs, but reduces the potential for cartels forming and controlling the direction of the EOS chain.

Surely a dynamic, fluid set of delegates that strive to maintain their position by doing good for the blockchain will benefit the entire EOS ecosystem. We’ll be watching how voting develops over the next three months.

The Boid team has decided to launch a proxy voting service.

We wanted to approach how we selected block producers differently, instead of reviewing block producers and voting directly for them, We review voter proxies and rate them from one to three, three being the highest, one being the lowest.

We will review the voting proxies each month, assessing how each performs against the following metrics:

  • Block Producer selection criteria — Frequency of vote review, automated scoring algorithms, what is essential in terms of selecting a block producer
  • Community engagement — How they represent EOS, blogs, articles, guides, info videos, hosting events/meetups
  • EOS promotion — Social media activity
  • General EOS Contributions
  • Updated links and information to web content, twitter, telegram, etc.

The output from the review provides a weighting for each of the voting proxies. Using that weight we rank each of the block producers they vote for, this, in turn, defines a list of block producers and ranks each of them by weight.

Anyone can view the latest voting information and proxy their vote using Scatter on the Boid vote page at:

https://vote.boid.com

Additional details of how we weighted each provider are shown in our public Trello board, each VP has a card, and comments are shown against each.

Additionally, you can listen to the first episode of the Boidcast below. In this episode we discuss our proxy ratings and various DPOS voting mechanics.

https://soundcloud.com/boidcom/boidcast-1

Our commitment is to actively review the VP’s every month, detailing areas for improvement. Our review methodology is likely to change in the future, and when it does, there will always be a public notice about the changes.

We feel this different approach could benefit the wider ecosystem ensuring VP’s continue to promote EOS, provide up to date information, links and engagement with the EOS community.

Take a look and join the boidcomproxy.

Originally published at medium.com.

Written by

Science, Cryptocurrency, Society The Social Supercomputer

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