Witness Update Log #7: I'm against reducing 13 week power down period

in #witnesslast year

witness update 7.png

This is my 7th weekly witness update log since I made my initial witness announcement post, with the previous update being 23 days ago. Yes I know that I have been breaking promises here 🤦‍♂️

Project updates

Currently no project updates, but would like to take this opportunity to let everyone know that an update to my @onelovedtube uploader (v0.9.2) is being worked on. This update includes optimizations on certain server setups as well as major bug fixes.

If you don't want to miss out on the new update, smash that follow button and let's hit 500 followers!

NO to 13-week powerdown period reduction

I know this was discussed 11 days ago, but for those who did not know what is happening, @thecryptodrive have proposed on reducing the powerdown period from 13 weeks to 4 weeks, and it gained a huge amount of traction and proposal votes.

I am voting against this change, and here is my comment on it:

Reducing the powerdown period to 4 weeks is not a good idea imo, and will not attract new people as 4 weeks powerdown is still a time delay that still deters people from powering up. All it does is allow hackers to have access to larger portion of the funds in 7 days.

I would say keep the powerdown period at 13 weeks and allow users to opt-in an ability to do an instant powerdown with a 5% burn with their owner key, which will only take effect after the 30-day account recovery window. They will be warned by the interface that "by proceeding with this operation, your funds stored in vesting will no longer be secured with the time delay". Of course, users can do the reverse and disable the instant powerdown, which takes effect immediately (no 30-day waiting period) and can safely be done with an active key.

The instant powerdown feature may be initially set to be enabled/disabled at account creation.

If the powerdown period must be reduced, I would prefer it to be 5 weeks instead of 4 weeks as that means 28 days, which is shorter than the 30-day account recovery window.

Witness news

Highlight of the week: We lost another Steem witness :(

Source

With the prolonged Steem bear market, we have observed a significant drop-off in the number of active witnesses on the Steem blockchain. Looks like this is still happening right now, this time the @helpie team is leaving the world of Steem witnesses. It's always sad to see witnesses go, as fewer consensus nodes mean a less secure network.

Don't forget, not your node, not your rules.

Witness performance

Let's see how well my witness performed this week :)

Current rank: 152nd (active rank 111th)
Votes: 1,113 MVests
Voter count: 36

Producer rewards (7 days): 7.39 SP
Producer rewards (30 days): 30.75 SP
Missed blocks: None!

Server resource statistics

This section will be present in every witness update logs (if any of my nodes are online) to provide new witnesses up-to-date information about the system requirements for running a Steem node.

steemd

block_log file size: 248 GB
blockchain folder size: 586 GB
Account history RocksDB size: 230 GB
RAM usage: 9.59 GB

hivemind

Output of SELECT pg_size_pretty( pg_database_size('hive') );
Database size: 209 GB

Postgresql + Hivemind RAM usage: 13 GB

jussi

Screenshot 2020-02-04 at 9.29.09 PM.pngScreenshot 2020-02-04 at 9.29.18 PM.png
RAM: 1.04GB
CPU: ~0.5-2.5%

Server weekly network utilization

graph-weekly_bandwidth-318020.png

Pulled straight from server provider, best viewed on light mode

techcoderx.com API downtime

None this week! You may check out the status for the last 7 days here.

Support

Currently subsidising server expenses myself for the first year. If you like what I'm doing, please consider supporting by voting for us.

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@tipu curate

Upvoted 👌 (Mana: 10/15 - need recharge?)