The final release for the new economic Steem model will be attempt by tomorrow 9th! The Hardfork is tentatively set to November 16th.
This hardfork will finally require all witnesses to migrate to the ChainBase implementation. Things that have been implemented:
- Instantaneous Annual Inflation set to 9.5% (except for Steem Dollar variance / interest)
- 75% of inflation awarded to reward pool
- 15% of inflation awarded to Steem Power
- 10% of inflation awarded to witnesses
- top 19 witnesses receive 1/5 the pay per block of miners and runner up witnesses
- no more reward for including a POW transaction in a block
- price feed median period changed from 7 days to 3.5 days
- Steem Dollar conversion delay changed from 7 days to 3.5 days
There are two things left to be implemented:
- Equihash
- Expiration of Witness Votes after 3 months
Due to the desire to deploy these changes rapidly, we will retract the $500 bounty if it is not completed by Monday morning 7th November. This schedule is tentative and may be subject to change if testing discovers issues.
Wow, these are fantastic news! Dan really wanna do the changes very quick!
Steem is back down again, which was predictable, Steem's inflation is still to high....
If the Hardfork comes at the 16th, the inflation rate gets reduced, liquid Steem will decrease and Steem price will go up, plus Steemfest is on its way this weekend, there is only one conclusion.... Buy Steem before the weekend, guess it will be never cheaper again ......
If you like the Report please follow, re-steem, upvote and comment.
Note: 100% of the payout of this post will be paid out in Steem Power!
