The LISK delegate system is a little bit unfair..
What do you think?
Lisk delegate owners can continue to vote on own delegate servers (with different wallets ), and because they get forging reward they can use some of it for votes. As a result, they are at a given time no more to beat.
So the rich become richer...and about a few years they control the 101 delegates. am honest, what are 101 server now worldwide, that means nothing, which is not even one per country!
Like always... this is how a DPoS algo/system works, if someone will buy a lot of lisk they can setup his own 101 delegates and start to forging.
You can't block him
.
And 101 delegate servers is not decentralized, we own a hosting company and with almost 0 costs we can start 300 independent delegates in 6 hours...
We do not have sufficient Lisk to vote and start our own delegate server, but otherwise we were able to control the 101 network from the early beginning.
and if we technically can do this ... others with enough LISK ico, will surely run this scenario.
You certainly don't understand the system. You can't "continue to vote on own delegate servers". 1 LSK is 1 vote, you can also only give a vote once to the same delegate. The normal PoS is a "rich get a little bit richer" system, DPoS is a "popular people who provide a great node and have great initiatives get the chance to use their funds" system.
Read this:
https://lisk.io/documentation?i=lisk-handbooks/DelegateHandbookThanks.
I understand that i cannot vote 10 times from one wallet.
Okay, and what for example i own 100 wallets, each balance of 1 LSK (different IP address is no problem)? Than i can vote 100x on the same delegate?
100 wallets with 1 LSK each: You have 100 votes
1 wallet with 100 LSK each: You have 100 votes
Exactly the same. But in the case of 100 different wallets you will have to pay the vote fee 100x.
For another view on the price.
The following is a list of fees for different types of transactions:
0.1 LISK of amount sent for a spend transaction
5 LISK for registering a second passphrase
100 LISK for registering a username
100 LISK for registering as a delegate
1 LISK to add a contact
500 LISK to register a dapp
5 LISK per member for registering a multi-signature group.
That means, if lisk hit 5usd/1 lisk Then it would cost 2500 to register a dapp on the blockchain.
That means, if lisk hit 10usd/1 lisk Then it would cost 5000usd to register a dapp on the blockchain.
That means, if lisk hit 25usd/1 lisk Then it would cost 12500usd to register a dapp on the blockchain.
How many developers of dapps are willing to pay those prices?
If lisk should fly, and get big over time, either these prices should be adjusted, or the price of lisk should be low.
I hope the developers will lower these prices though. Because it would give better value for the developers to get into lisk. And will get the price to go up for the investors.
Im an investor my self, and want all the best for lisk. But we need to have a realistic view on these things
Fees can and will be changed down the road. They will also be lowered at launch.
is it true max kordek is planning a new project with the DOA ?
I just stated that there is a big possibility we will work on a DAO (or something similar/better) down the road. Right now it's all Lisk core.