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 weekly 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: 2022-01-31 00:00:01 to 2022-02-06 23:59:59 UTC
All price calculation were done using today's average price of 1 HIVE of: 1.219 USD (source: average price from feed history over 12 hours)
General Producer Reward HP distribution
There was a total of 200959 blocks produced and 55468.76 HP earned during last week.
The column chart below represents the distribution of Hive Power earned by witnesses over the last week.
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 week.
Your name might not appear in the charts below due to space limitation, this would change from week to week.
Top20: total of 44573.31 HP earned
Active Rank 21-40: total of 7617.45 HP earned
Active Rank 41-60: total of 2326.43 HP earned
Active Rank 61-80: total of 639.48 HP earned
Active Rank 81-100: total of 238.46 HP earned
Active Rank 101-120: total of 65.45 HP earned
Under 120: total of 8.17 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 week earnings (ordered by amount earned ):
No.|Witness|Earnings HP/USD
-|-|-
1|@pharesim - active rank: 17
Last week: signed 9601 blocks with v1.25.0, missed 2 (0.02%).
Activity: 0 posts , 0 comments , 665 upvotes, 0 downvotes|2241.30 HP/w, $2731.21/w
4.04%, 0.23 HP/block
2|@gtg - active rank: 2
Last week: signed 9601 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 72 upvotes, 0 downvotes|2241.30 HP/w, $2731.21/w
4.04%, 0.23 HP/block
3|@yabapmatt - active rank: 10
Last week: signed 9599 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 0 comments , 23 upvotes, 0 downvotes|2240.84 HP/w, $2730.65/w
4.04%, 0.23 HP/block
4|@followbtcnews - active rank: 14
Last week: signed 9596 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 367 upvotes, 0 downvotes|2240.12 HP/w, $2729.77/w
4.04%, 0.23 HP/block
5|@anyx - active rank: 16
Last week: signed 9594 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 0 upvotes, 0 downvotes|2239.66 HP/w, $2729.21/w
4.04%, 0.23 HP/block
6|@emrebeyler - active rank: 15
Last week: signed 9591 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 908 upvotes, 0 downvotes|2238.98 HP/w, $2728.38/w
4.04%, 0.23 HP/block
7|@stoodkev - active rank: 13
Last week: signed 9591 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 4 comments , 74 upvotes, 0 downvotes|2238.96 HP/w, $2728.36/w
4.04%, 0.23 HP/block
8|@arcange - active rank: 8
Last week: signed 9591 blocks with v1.25.0, missed 0 (0.00%).
Activity: 16 posts , 46 comments , 2216 upvotes, 0 downvotes
Top tags: #hive, #palnet, #leofinance, #hive-133987, #statistics|2238.96 HP/w, $2728.35/w
4.04%, 0.23 HP/block
9|@roelandp - active rank: 6
Last week: signed 9590 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 3539 upvotes, 0 downvotes|2238.73 HP/w, $2728.07/w
4.04%, 0.23 HP/block
10|@steempress - active rank: 18
Last week: signed 9590 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 993 upvotes, 0 downvotes|2238.72 HP/w, $2728.07/w
4.04%, 0.23 HP/block
11|@abit - active rank: 11
Last week: signed 9589 blocks with v1.25.0, missed 6 (0.06%).
Activity: 0 posts , 0 comments , 197 upvotes, 0 downvotes|2238.50 HP/w, $2727.80/w
4.04%, 0.23 HP/block
12|@steempeak - active rank: 5
Last week: signed 9589 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 0 comments , 8 upvotes, 0 downvotes|2238.49 HP/w, $2727.79/w
4.04%, 0.23 HP/block
13|@therealwolf - active rank: 7
Last week: signed 9588 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 5 comments , 81 upvotes, 0 downvotes|2238.26 HP/w, $2727.50/w
4.04%, 0.23 HP/block
14|@ausbitbank - active rank: 3
Last week: signed 9587 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 211 upvotes, 0 downvotes|2238.01 HP/w, $2727.21/w
4.03%, 0.23 HP/block
15|@ocd-witness - active rank: 12
Last week: signed 9586 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 0 comments , 1115 upvotes, 0 downvotes|2237.81 HP/w, $2726.96/w
4.03%, 0.23 HP/block
16|@blocktrades - active rank: 1
Last week: signed 9586 blocks with v1.25.0, missed 0 (0.00%).
Activity: 1 posts , 13 comments , 432 upvotes, 0 downvotes
Top tags: #blockchain, #blocktrades, #hive, #software|2237.80 HP/w, $2726.95/w
4.03%, 0.23 HP/block
17|@deathwing - active rank: 19
Last week: signed 9586 blocks with v1.25.0, missed 1 (0.01%).
Activity: 0 posts , 0 comments , 831 upvotes, 0 downvotes|2237.80 HP/w, $2726.94/w
4.03%, 0.23 HP/block
18|@themarkymark - active rank: 9
Last week: signed 9584 blocks with v1.25.0, missed 0 (0.00%).
Activity: 3 posts , 34 comments , 803 upvotes, 48 downvotes
Top tags: #technology, #pob, #vyb, #stem, #gadgets|2237.33 HP/w, $2726.38/w
4.03%, 0.23 HP/block
19|@good-karma - active rank: 4
Last week: signed 9583 blocks with v1.25.0, missed 6 (0.06%).
Activity: 0 posts , 3 comments , 2126 upvotes, 0 downvotes|2237.11 HP/w, $2726.10/w
4.03%, 0.23 HP/block
20|@quochuy - active rank: 20
Last week: signed 8478 blocks with v1.25.0, missed 0 (0.00%).
Activity: 2 posts , 24 comments , 568 upvotes, 0 downvotes
Top tags: #blockchain, #hive, #hive-111111, #insects, #macro|2034.64 HP/w, $2479.38/w
3.67%, 0.24 HP/block
21|@smooth.witness - active rank: 21
Last week: signed 1604 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 0 upvotes, 0 downvotes|777.39 HP/w, $947.31/w
1.40%, 0.48 HP/block
22|@someguy123 - active rank: 22
Last week: signed 486 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 700 upvotes, 0 downvotes|568.15 HP/w, $692.34/w
1.02%, 1.17 HP/block
23|@guiltyparties - active rank: 23
Last week: signed 458 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 22 comments , 23 upvotes, 0 downvotes|535.41 HP/w, $652.45/w
0.97%, 1.17 HP/block
24|@aggroed - active rank: 24
Last week: signed 445 blocks with v1.25.0, missed 0 (0.00%).
Activity: 1 posts , 0 comments , 1 upvotes, 0 downvotes
Top tags: #dieselpools, #hive, #hive-engine, #palnet, #splinterlands|520.20 HP/w, $633.91/w
0.94%, 1.17 HP/block
25|@threespeak - active rank: 25
Last week: signed 411 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 0 comments , 286 upvotes, 0 downvotes|480.46 HP/w, $585.48/w
0.87%, 1.17 HP/block
26|@engrave - active rank: 26
Last week: signed 383 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 2 comments , 1128 upvotes, 0 downvotes|447.74 HP/w, $545.61/w
0.81%, 1.17 HP/block
27|@mahdiyari - active rank: 27
Last week: signed 374 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 1 comments , 863 upvotes, 0 downvotes|437.19 HP/w, $532.75/w
0.79%, 1.17 HP/block
28|@curie - active rank: 28
Last week: signed 373 blocks with v1.25.0, missed 0 (0.00%).
Activity: 2 posts , 280 comments , 1264 upvotes, 0 downvotes
Top tags: #hive-156768, #curation, #photography, #music, #writing|436.05 HP/w, $531.37/w
0.79%, 1.17 HP/block
29|@cervantes - active rank: 29
Last week: signed 349 blocks with v1.25.0, missed 0 (0.00%).
Activity: 2 posts , 0 comments , 324 upvotes, 0 downvotes
Top tags: #cervantes, #hive-133872, #spanish, #ciencia, #blog|408.00 HP/w, $497.18/w
0.74%, 1.17 HP/block
30|@drakos - active rank: 30
Last week: signed 339 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 2 comments , 7 upvotes, 0 downvotes|396.30 HP/w, $482.92/w
0.71%, 1.17 HP/block
31|@jesta - active rank: 31
Last week: signed 272 blocks with v1.25.0, missed 1 (0.37%).
Activity: 0 posts , 0 comments , 0 upvotes, 0 downvotes|318.19 HP/w, $387.74/w
0.57%, 1.17 HP/block
32|@timcliff - active rank: 32
Last week: signed 259 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 2 comments , 81 upvotes, 0 downvotes|302.76 HP/w, $368.94/w
0.55%, 1.17 HP/block
33|@leofinance - active rank: 33
Last week: signed 257 blocks with v1.25.0, missed 1 (0.39%).
Activity: 1 posts , 0 comments , 367 upvotes, 0 downvotes
Top tags: #crypto, #ctp, #development, #hive, #hivestats|300.43 HP/w, $366.10/w
0.54%, 1.17 HP/block
34|@pfunk - active rank: 34
Last week: signed 251 blocks with v1.25.0, missed 0 (0.00%).
Activity: 0 posts , 8 comments , 167 upvotes, 47 downvotes|293.40 HP/w, $357.54/w
0.53%, 1.17 HP/block
35|@cryptobrewmaster - active ran