Witness Update - outofthematrix 🗳️ Many Blurtarians have not yet understood the voting mechanics since HF 0.8.0.

Ok, so there seems to be some movement in the top 5 witness list!?!?

Krhom seems to have been pushed to rank 2. When I say pushed, it is because he has massive support from ctime and the polish guys/community.

There is far more movement in the positions 10 - 20!!!

This is why I am again appealing to all Blurtarians to pay more notice to the lower ranking witnesses, keeping them in the top 20!

If you would like to vote for me, you can do this by logging into your wallet with your active key!

🗳️ https://blurtwallet.com/~witnesses?highlight=outofthematrix

Two further witnesses struggling in the top 20, that I would love to see staying there, are: @world-travel-pro and @nalexadre !!!

Please spare these two fabulous witnesses a vote too, to keep them in top 20!

Quite some time ago, I did a post about the new witness voting mechanics as of HF 0.8.0.

I would like to recap this, because many Blurtarians with smaller stake are thinning out their witness vote power because of too many witness votes.

Let me show you the witness vote mechanics using a simple example:

Let us say a Blurt user has 10000 BP in his account.

When he casts 1 witness vote, this witness will recieve 100% of his BP as voting power, so that is 10000 VP.

As soon as this same Blurt user casts a second vote for another witness, his voting power is divided amongst both witness votes, so both witnesses only recieve 50% of the Blurt users VP, which is now only 5000 BP/VP.

If this Blurt user then casts a third vote, his 10000 VP will be distributed amongst all 3 witnesses, so each witness only recieves 3333 VP.

With a fourth witness vote, it is now only 25% of his 10000 BP stake, so each witness recieves only 2500 VP.

The system allows up to 30 votes. If our example Blurt user votes all 30 slots, that he is allowed, then this means each witness is only recieving 1/30th of his 10000 BP, which is in our example case: 333.33 VP.

As you can see, casting too many votes thins out your voting power!

I hope I could help the one or other with this example!?

Have yourselves a lovely weekend!

Tom
BLURT WITNESS