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sponsorship_system_changes

Sponsorship System Changes

Here we will discuss the concerns with current sponsorship system and ideas on what changes should be voted on when the Voting System is implemented (next big development implementation on Qortal)! This page is intended to get the conversation started and prepare us to immediately move on voting as soon as the Voting System is ready (which is the next big development in this current phase 2).

Here are the FACTS

  • The current sponsorship system requires accounts to be Level 5 or higher in order to sponsor others.
  • Sponsors can sponsor up to 5 accounts at a time.
  • Sponsorship period is approximately 5 days (7200 blocks total)
  • Sponsors can sponsor approximately 30 new accounts per month (30 day month divided by 5 day periods is approximately 6 sponsorship periods. 6 sponsorship periods multiplied by 5 accounts per period equals 30 accounts sponsored)
  • The current level 5 or higher accounts are QORA forger accounts (Founder accounts are also able to sponsor)
  • There is evidence that at least one sponsor-enabled account has been selling sponsorships for profit through a Chinese chat platform targeting the Chinese community. This is unethical and totally against the fundamental principle of why we have the Sponsorship System to begin with. That is, we respect anonymity, but should do our best to only sponsor newcomers that we suspect are genuinely here for the right reasons which is NOT to MINE COIN, but truly believe in the decentralized concepts and are eager to help support the chain by running a node. In return for doing so, obviously there is a block reward but that is not our primary reason for getting involved!
  • There is evidence that some people are not truly apart of the Qortal community for genuine reasons and is reasonable to assume that there will be gaming of the Sponsorship System with people of this character.
  • There is and always will be bad actors who attempt to game systems at large, especially in the crypto world. Especially with a project that aims to truly decentralize the infrastructure of the Internet and provide a new economic system for the world to benefit. It is the early adopter's responsibility to think ahead and do what we can to combat the possibilities for disingenuous activity on Qortal's platform. Qortal is intended to be an infrastructure and ecosystem to outlive us all, and IF done right, is certainly possible.
  • The threat at hand with "gaming" the system is that it only takes approximately 14 months for a newcomer to reach Level 5 from Level 1. At that time, the Level 5 account can then begin sponsoring their own duplicate accounts at the rate described above (approximately 30 per month). Now imagine if these same bad actors created multiple accounts and intend to exponentially game the system.
  • The result is and will be two-fold: unfair block reward distribution and overpowering voting influence in the Voting System. So ultimately, both the integrity of the block rewards and voting will be compromised! Do you get the big picture!?

The above are FACTS without any opinion convoluting them. Here are now the concluding thoughts by G Factor:

The argument is often made that good people will outpace the bad with this issue. Greedy people will always be greedy people. So in reality, there will always be a way to game this honor system and ultimately will lead to a situation where block rewards are so minimal that the incentive for the good and bad to run nodes for the purpose to mint compared to genuinely supporting the network will begin to burn out. And with a slow minting production schedule and respect to the ever-increasing demand/applicability of QORT within the system, the value of QORT will rise and shouldn’t be an issue. With that said, what changes could be implemented to help combat such bad acting? One account per node can actually be gamed by those technically inclined. We will never have KYC as we respect anonymity. We could see about a more complex system that regularly requires authentication in some form. What are your thoughts? Remember, votes will never be held for anything more than for the Dev Team to gauge the community’s interest in certain directions the Dev Team can go such as time spent implementing coin, modifying sponsorship system, block reward, etc.

Join us in the ‘Voting System’ channel in Discord for this discussion.

sponsorship_system_changes.txt · Last modified: 2021/05/30 13:34 by gfactor