TL;DR - The Telos Update #4 - Sept 5, 2018 - Interview with Douglas Horn of Telos Part 1
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Below are some of the questions and answers from the interview.
Question: What is Inverse Weighted Voting?
Anwser: Inverse Weighted Voting is a solution to a problem with EOS where large account holders only votes for only a few block producers (BP). When EOS account holder only votes on 1 or 2 BPs, the vote is allocated at full strength only to those vote on, however, the BPs who have not received votes are penalized.
This can allow some large account holder to game the system. Thus the incentives of voting are not align with the implementation as written in the software.
Telos' Inverse Weighted Voting will reduce the amount of influence a vote has if one only votes for less than 3 BPs. However, if an account holder votes for more than 27 BPs then the vote influence is working at full strength, thus reducing the ability to game the system. The vote strength gradually increases as one votes for more BPs. The helps to maintain a balanced/fair decentralized system.
Additionally, Telos will provide proxies that account holders can select, who will vote on their behalf.
Question Will there by term limits for block producers?
Answer No plans at this time. But it could be voted upon in the future via ratification. Immediately upon the launch, suggestions can be made and voted on to make changes to the Telos system. This a part of Telos' Governance Framework.
Question What is the purpose of Rotating BP?
Answer Rotating the BPs provides a mean for the Telos network to evaluate standby BPs for efficacy of block production, verifying infrastructure capacity, and ensuring architecture compliance.
There 21 Active and 30 standby block producers. The pay rate is the same for Active BPs and the 30 standby BPs are paid 1/2 of the Active BP rate.
A new rotation algorithm was created for Telos that manages the process to test standby BP every 5 days and Active BPs will get a break approximately once every 7 days to perform routine maintenance.
Question What other changes need to be done before launch?
Answer There is a tracking checklist that details what must be accomplished before the network is ready. If all systems are go, then there is a high probability the network will launch. If not, then there will probably be a delayed launch. There should be no surprises. Checkout launch for more details.
This covers the first 28 minutes of the interview. Stay tuned for the next part.
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