What do Hive Witnesses do and why you should vote for your 30 preferred witnesses.
What do Witnesses do?
The Hive blockchain uses DPoS (Delegated Proof of Stakes), this means we get to elect those which users (the witnesses) get to validate the next block containing operations (posts, comments, votes, transfers etc...) to be added permanently into the blockchain.
Elected witnesses, will be setting up at least one server that runs 24/7 and which role is to enforce the blockchain rules and store the validated blocks for future reference. Keeping that server up and running is an important task as without the witnesses server the platform will be down.
Every 63 seconds, the top 20 witnesses and 1 random backup witness will be picked to validate and sign blocks. Each of them have 3 seconds to validate the block, if something happens and they can't do it within that time, the block will be missed and pass on to the next scheduled witness. For their work, Hive Witnesses will be rewarded in HP for each block they validate (see rewards in the report below). The rewards used to pay the Witnesses comes from pool that is separate to the author and curator reward pool. There are actually four different pools, the Hive Whitepaper describes them as followed:
Hive inflation is distributed in the following manner: 1. 65% is used to fill the reward pool (which is split in equal portions between content producers and curators) 2. 15% goes to HP stakeholders 3. 10% goes to the witnesses for block signing 4. 10% goes to the Decentralized Hive Fund.
Additionally to validating blocks, Hive Witnesses also keeps an up-to-date HIVE and HBD price feed for blockchain internal use. They also get to set some important parameters, for example: - HBD savings interests rate. The current APR as voted by the witnesses is 12% - Account creation fee. The current fee is 3 HIVE - Block size
Why you should vote for your preferred witnesses:
- Witnesses ensure the safety and proper functioning of the blockchain network
- Voting for your trusted witnesses will help mitigate 51% attacks
- Voting for witnesses costs you nothing, it does not use your vote power or Hive Power (HP) and you can vote for up to 30 preferred witnesses
- You can change your vote at any time
- If you don't know who to vote for, you can choose another user as your witness proxy this means you will automatically vote for the same witnesses as the user you have chosen as proxy. Later on, you can remove that proxy and manually vote for your preferred witnesses.
If you haven't yet voted for your 30 preferred witnesses, you can do so on https://wallet.hive.blog/~witnesses
The monthly Hive Witness earnings report
Disclaimer
This is a semi-automated report. I cannot guarantee 100% accuracy on the numbers found in this post. This is just to give you an idea of the distribution of Hive Power through the witness operations. If you do find an oddity, please let me know and I will make sure to get it fixed.
Report reference info
All data below were gathered during the following time range: 2022-05-01 00:00:00 to 2022-05-31 23:59:59 UTC
All price calculation were done using today's average price of 1 HIVE of: 0.564 USD (source: average price from feed history over 12 hours)
General Producer Reward HP distribution
There was a total of 872715 blocks produced and 253947.48 HP earned during last month.
The column chart below represents the distribution of Hive Power earned by witnesses over the last month.
Notice the dramatic drop past the rank 20. Remember, each round is composed of each of the Top20 witnesses and one backup witness. This means each Top20 witness has to sign a block every 63 seconds (max), while for a backup witness, it will be much less often. The Top20 witnesses are however rewarded less HP per block than backup witnesses.
The servers of the Top20 witnesses are thus under higher load/stress than those of the backup witnesses. You need to keep this in mind when looking at their number of missed blocks: 10 missed blocks for a witness at rank 10 does not mean the same as 10 missed blocks for a witness at rank 140 for example.
HP distribution by active rank tier, ordered by earnings last month.
Your name might not appear in the charts below due to space limitation, this would change from month to month.
Top20: total of 204720.62 HP earned
Active Rank 21-40: total of 34191.66 HP earned
Active Rank 41-60: total of 10435.49 HP earned
Active Rank 61-80: total of 2545.56 HP earned
Active Rank 81-100: total of 1179.47 HP earned
Active Rank 101-120: total of 442.89 HP earned
Under 120: total of 37.14 HP earned
All tiers combined ordered by HP earned.
Here is the full report from all active HIVE Witnesses. Please also take this opportunity to see what they do for the community and cast a vote for them in order to help the platform.
Notes: 1. Blocks can be missed for various reasons including technical issues, misconfiguration, bugs in a new version of the blockchain software etc... and the higher your rank, the higher the chance it can happen. 2. Some witnesses are managing multiple projects for Hive and the communities in addition to maintaining their various nodes and hence don't often post. 3. Click on the witness names to get to their witness announcement post. 4. The earnings in USD below are just an estimate and are only effective if the witness are powering down and convert their liquid HIVE to fiat. By keeping their producer rewards powered up, they take the risk of seeing those staked HP loosing value if the market goes down. 5. There are times where you might notice highly ranked witnesses earning less rewards than those below them. This is there are cases where witnesses might not be able to validate blocks, some of the reasons could be: technical issues leading to missing blocks, disabling their witness temporarily for maintenance etc...
Last month earnings (ordered by amount earned ):
No.|Witness|Earnings HP/USD
-|-|-
1|@ocd-witness - active rank: 10
Last month: signed 41669 blocks with v1.25.0, missed 4 (0.01%).
Activity: 0 posts , 0 comments , 4465 upvotes, 0 downvotes|10245.14 HP/m, $5775.70/m
4.03%, 0.25 HP/block
2|@arcange - active rank: 6
Last month: signed 41667 blocks with v1.25.0, missed 4 (0.01%).
Activity: 0 posts , 89 comments , 6136 upvotes, 1 downvotes|10244.66 HP/m, $5775.43/m
4.03%, 0.25 HP/block
3|@roelandp - active rank: 11
Last month: signed 41665 blocks with v1.25.0, missed 2 (0.00%).
Activity: 1 posts , 7 comments , 13216 upvotes, 0 downvotes
Top tags: #conference, #event, #hivefest, #party, #poll|10244.19 HP/m, $5775.16/m
4.03%, 0.25 HP/block
4|@therealwolf - active rank: 7
Last month: signed 41664 blocks with v1.25.0, missed 2 (0.00%).
Activity: 1 posts , 3 comments , 7 upvotes, 0 downvotes
Top tags: #hive, #inji, #splinterlands|10243.83 HP/m, $5774.96/m
4.03%, 0.25 HP/block
5|@stoodkev - active rank: 12
Last month: signed 41655 blocks with v1.25.0, missed 2 (0.00%).
Activity: 0 posts , 14 comments , 314 upvotes, 0 downvotes|10241.72 HP/m, $5773.77/m
4.03%, 0.25 HP/block
6|@blocktrades - active rank: 1
Last month: signed 41648 blocks with v1.25.0, missed 5 (0.01%).
Activity: 3 posts , 41 comments , 1846 upvotes, 39 downvotes
Top tags: #hive-139531, #hive, #blockchain, #software, #blocktrades|10239.90 HP/m, $5772.74/m
4.03%, 0.25 HP/block
7|@deathwing - active rank: 15
Last month: signed 41644 blocks with v1.25.0, missed 3 (0.01%).
Activity: 0 posts , 0 comments , 3041 upvotes, 0 downvotes|10239.02 HP/m, $5772.25/m
4.03%, 0.25 HP/block
8|@abit - active rank: 13
Last month: signed 41644 blocks with v1.25.0, missed 1 (0.00%).
Activity: 0 posts , 0 comments , 744 upvotes, 0 downvotes|10238.85 HP/m, $5772.15/m
4.03%, 0.25 HP/block
9|@ausbitbank - active rank: 3
Last month: signed 41641 blocks with v1.25.0, missed 0 (0.00%).
Activity: 1 posts , 11 comments , 1464 upvotes, 0 downvotes
Top tags: #art, #discodiffusion, #lookmumididanart|10238.19 HP/m, $5771.78/m
4.03%, 0.25 HP/block
10|@themarkymark - active rank: 9
Last month: signed 41637 blocks with v1.25.0, missed 3 (0.01%).
Activity: 13 posts , 224 comments , 427 upvotes, 1147 downvotes
Top tags: #hive-engine, #vyb, #ash, #cent, #proofofbrain|10237.24 HP/m, $5771.25/m
4.03%, 0.25 HP/block
11|@smooth.witness - active rank: 16
Last month: signed 41636 blocks with v1.25.0, missed 1 (0.00%).
Activity: 0 posts , 0 comments , 0 upvotes, 0 downvotes|10236.88 HP/m, $5771.04/m
4.03%, 0.25 HP/block
12|@gtg - active rank: 2
Last month: signed 41634 blocks with v1.25.0, missed 9 (0.02%).
Activity: 0 posts , 16 comments , 363 upvotes, 68 downvotes|10236.39 HP/m, $5770.76/m
4.03%, 0.25 HP/block
13|@anyx - active rank: 18
Last month: signed 41629 blocks with v1.25.0, missed 5 (0.01%).
Activity: 0 posts , 1 comments , 1 upvotes, 0 downvotes|10235.22 HP/m, $5770.10/m
4.03%, 0.25 HP/block
14|@yabapmatt - active rank: 8
Last month: signed 41623 blocks with v1.25.0, missed 3 (0.01%).
Activity: 0 posts , 4 comments , 106 upvotes, 0 downvotes|10233.72 HP/m, $5769.26/m
4.03%, 0.25 HP/block
15|@emrebeyler - active rank: 14
Last month: signed 41623 blocks with v1.25.0, missed 3 (0.01%).
Activity: 0 posts , 0 comments , 3314 upvotes, 0 downvotes|10233.68 HP/m, $5769.24/m
4.03%, 0.25 HP/block
16|@followbtcnews - active rank: 19
Last month: signed 41619 blocks with v1.25.0, missed 3 (0.01%).
Activity: 0 posts , 0 comments , 1575 upvotes, 0 downvotes|10232.80 HP/m, $5768.74/m
4.03%, 0.25 HP/block
17|@steempress - active rank: 17
Last month: signed 41619 blocks with v1.25.0, missed 5 (0.01%).
Activity: 0 posts , 0 comments , 2802 upvotes, 0 downvotes|10232.70 HP/m, $5768.68/m
4.03%, 0.25 HP/block
18|@good-karma - active rank: 5
Last month: signed 41606 blocks with v1.25.0, missed 35 (0.08%).
Activity: 0 posts , 3 comments , 7303 upvotes, 0 downvotes|10229.53 HP/m, $5766.90/m
4.03%, 0.25 HP/block
19|@pharesim - active rank: 20
Last month: signed 41571 blocks with v1.25.0, missed 72 (0.17%).
Activity: 2 posts , 26 comments , 2932 upvotes, 1 downvotes
Top tags: #hive, #ai, #machine-learning, #profiling, #deephive|10220.92 HP/m, $5762.05/m
4.02%, 0.25 HP/block
20|@steempeak - active rank: 4
Last month: signed 41552 blocks with v1.25.0, missed 5 (0.01%).
Activity: 0 posts , 0 comments , 11 upvotes, 0 downvotes|10216.03 HP/m, $5759.29/m
4.02%, 0.25 HP/block
21|@quochuy - active rank: 21
Last month: signed 2323 blocks with v1.25.0, missed 0 (0.00%).
Activity: 5 posts , 33 comments , 2412 upvotes, 0 downvotes
Top tags: #music, #hive-193816, #electricguitar, #witness, #witness-update|2756.25 HP/m, $1553.83/m
1.09%, 1.19 HP/block
22|@someguy123 - active rank: 22
Last month: signed 2204 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 2877 upvotes, 0 downvotes|2713.10 HP/m, $1529.51/m
1.07%, 1.23 HP/block
23|@guiltyparties - active rank: 23
Last month: signed 2066 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 7 comments , 40 upvotes, 0 downvotes|2543.14 HP/m, $1433.70/m
1.00%, 1.23 HP/block
24|@engrave - active rank: 24
Last month: signed 1937 blocks with v1.25.0, missed 1 (0.05%).
Activity: 1 posts , 49 comments , 470 upvotes, 1 downvotes
Top tags: #development, #engrave, #hive, #hivedev, #hiveprojects|2384.56 HP/m, $1344.30/m
0.94%, 1.23 HP/block
25|@threespeak - active rank: 25
Last month: signed 1915 blocks with v1.25.0, missed 0 (0.00%).
Activity: 1 posts , 1 comments , 1809 upvotes, 4 downvotes
Top tags: #3speak, #beta, #development, #encoding, #hive|2357.36 HP/m, $1328.96/m
0.93%, 1.23 HP/block
26|@aggroed - active rank: 26
Last month: signed 1884 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 4 upvotes, 0 downvotes|2319.10 HP/m, $1307.39/m
0.91%, 1.23 HP/block
27|@mahdiyari - active rank: 27
Last month: signed 1645 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 19 comments , 3895 upvotes, 0 downvotes|2024.94 HP/m, $1141.56/m
0.80%, 1.23 HP/block
28|@curie - active rank: 28
Last month: signed 1609 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 4083 upvotes, 10 downvotes|1980.71 HP/m, $1116.63/m
0.78%, 1.23 HP/block
29|@cervantes - active rank: 29
Last month: signed 1491 blocks with v1.25.0, missed 0 (0.00%).
Activity: 11 posts , 1 comments , 1236 upvotes, 0 downvotes
Top tags: #cervantes, #hive-133872, #spanish, #ciencia, #blog|1835.41 HP/m, $1034.71/m
0.72%, 1.23 HP/block
30|@drakos - active rank: 30
Last month: signed 1335 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 15 upvotes, 0 downvotes|1643.10 HP/m, $926.30/m
0.65%, 1.23 HP/block
31|@jesta - active rank: 31
Last month: signed 1291 blocks with v1.25.0, missed 2 (0.15%).
Activity: 0 posts , 0 comments , 0 upvotes, 0 downvotes|1589.28 HP/m, $895.96/m
0.63%, 1.23 HP/block
32|@pfunk - active rank: 32
Last month: signed 1141 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 50 comments , 622 upvotes, 191 downvotes|1404.70 HP/m, $791.90/m
0.55%, 1.23 HP/block
33|@timcliff - active rank: 33
Last month: signed 1132 blocks with v1.25.0, missed 0 (0.00%).
Activity: 1 posts , 3 comments , 314 upvotes, 0 downvotes
Top tags: #bot, #bots, #crypto, #cryptobot, #cryptocurrency|1393.43 HP/m, $785.55/m
0.55%, 1.23 HP/block
34|[@leofinance](https://leofinance.io/hive-167922/@steem.leo/introducing-the-leofinance-community-witness-for-hive