Cyber Republic Weekly Update 15
Hello, fellow Cyber Republicans. On the last day of February, the Elastos Foundation published the 2018 Financial Report covering July 2018 to December 2018. https://news.elastos.org/wp-content/uploads/2019/02/Elastos-Financial-Report-English.pdf We will be delving into some details from the report and we’ll share some clarifications Elastos’ leader, Rong Chen, answered for the community. There's also some hot discourse in the community regarding Supernode pools along with a deep dive into DPoS written by yours truly. There is a stunningly active community in the Philippines that, through the voice of Krisha, we’ll be showing their significant activities. And lastly, the Cyber Republic is piling up suggestions on the Cyber Republic website. Vote for the projects you feel are most important. This is our ecosystem and we control our own destiny.
Hello, fellow Cyber Republicans. On the last day of February, the Elastos Foundation published the 2018 Financial Report covering July 2018 to December 2018.
https://news.elastos.org/wp-content/uploads/2019/02/Elastos-Financial-Report-English.pdf
We will be delving into some details from the report and we’ll share some clarifications Elastos’ leader, Rong Chen, answered for the community. There's also some hot discourse in the community regarding Supernode pools along with a deep dive into DPoS written by yours truly. There is a stunningly active community in the Philippines that, through the voice of Krisha, we’ll be showing their significant activities. And lastly, the Cyber Republic is piling up suggestions on the Cyber Republic website. Vote for the projects you feel are most important. This is our ecosystem and we control our own destiny.
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Though rewards to voters are increasing, the absolute amount for the nodes will still<br />
increase as the alliance receive more profit as a whole. In short, this formula increases<br />
the profit of both voters and the nodes with more gains to the voters the more voters<br />
there are.<br />
Preventing the collusion of “whales”<br />
The circulating ELA is about 14.6 million. If 1 ELA is allowed to cast 1 vote, the number of<br />
votes required to secure a node is about 14.6M/96=<strong>15</strong>2K. When 1 ELA is allowed to cast<br />
36 votes, the number of votes to secure a node is about 36*14.6M/96=5.48M (which<br />
secures all 36 nodes if members of an alliance are forced to vote for candidates of the<br />
same alliance). If one believes that forming alliances is the best way to secure personal<br />
benefits, it’s natural that eventually there will be several major alliances competing for<br />
votes.The alliances receiving the most votes will become the 24 Supernodes and the 12<br />
nodes ranking from 37 to 48.<br />
Thus, the bar for securing a node is significantly raised. It’s easier for the rich to<br />
coordinate an alliance. From the angel wallets, the first 24 angles hold about 4.25M ELA.<br />
Using the blockchain explorer as reference, the first 24 wallet holders hold around<br />
3.57M ELA. It should be said clearly that there is no inference that these wallet holders<br />
will collaborate. What is highlighted is the actual holdings compared to the threshold.<br />
It should be noted that this alliance is recruiting members from the international<br />
community, and the goal is to encourage community participation through a proper<br />
incentive structure and to prevent the potential dominance of the rich via collusion.<br />
Community members are invited to discuss the possible scenarios and ways that<br />
benefit the community the most. Here is a forum post discussing it:<br />
https://forum.cyberrepublic.org/t/dpos-alliance/669<br />
//<strong>15</strong>
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