Topic: BitShares 2.0 Worker Primer (Read 29339 times)

Very interesting!

This is looking good man, keep us updated

Interesting concept, keeping an eye on this one

Nice this look good. Thank you.

Very interesting thanks for posting that.

Will be nice once it's all do able and visible in the UI.  This should attract people from all over with quite a snowball effect.

Thanks to maqifrnswa for the inside story




Introduction:

BitShares 2 separates responsibilities and incentives activities that are beneficial to the network, thus acknowledging different skill sets and interested community members to have incentives to contribute in the most appropriate way.

• Witnesses are paid for maintaining the back-bone of the network.
• Committee members are unpaid volunteers that organize the community and propose changes to the network.
• Marketers are paid in referral fees.
• Workers are paid for whatever they propose and do.

Each of the above (except Marketers) requires users to vote for the people, proposals, and/or changes. Those with sufficient approval will be compensated.

Workers are the "catch all" group where if you have an idea for something that could improve the network, you can get "paid" by the network to do it. Organizing meet-ups, developing a new tool or feature for the community, and maintaining websites and infrastructure (e.g. the mumble server team or linux distribution) are all examples of things workers may do.

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How to Create a Worker

Workers are currently created with the cli_wallet with the following command syntax
example, awesomebitsharer is creating a one day worker starting Oct 28 and will get paid 1 BTS/day (vesting in 1 day) to make an android app. The first command won't broadcast, this will just check:
Notes:
the url should point to something describing your proposal: what will you do, by when, and for how much?
for the worker properties you can choose:
"type" can be "refund" (return your pay back to the pool to be used for future projects), "vesting" (pay that you pay yourself), or "burn" (destroys your pay thus reducing share supply, equivalent to share buy-back of a company stock)
"pay_vesting_period_days" is the integer number of days you set for vesting. Some people don't want workers to withdraw and sell large sums of BTS immediately, as it puts sell pressure on BTS. Also, if you require vesting, you have "skin in the game" and thus an incentive to improve BTS value.
Pay is pay per day (not hour or maintenance period) and is in units of 1/10000 BTS (the precision of BTS)

To generate a worker proposal, add the word "true" to the end of the command as in:

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How to see proposals on the chain

Since there is no support in the UI yet, go to http://cryptofresh.com/ and look at the worker proposal chart.
You also can inspect all the objects 1.4.* (e.g. "get_object 1.4.0")

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How to Vote for a Worker

Currently the GUI doesn't have an interface, but you an vote using the CLI:
for example:
you can also vote against or abstain (remove your vote for or against)

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How Workers Get Paid

Every hour the worker budget is processed and workers are paid in full order of the number of votes for minus the number of votes against. The last worker to get paid will be paid with whatever is left, so may receive partial payment. The daily budget can be estimated by inspecting the most recent budget object 2.13.*
for example:

So the daily budget is worker_budget*24=1340913100*24=32181914400 (in units of 1/10000 BTS, or 321,8191.44 BTS). There is currently a maximum daily worker pay of 500k BTS, and this can be found using the "get_global_properties" command in the cli_wallet

Here are the full details
Every second, [ 17/(2^32) * reserve fund ] is allocated for witnesses and workers. The reserve fund is maximum number of BTS available less those currently in circulation. This is defined in:
https://github.com/cryptonomex/graphene/blob/f85dec1c23f6bf9259ad9f15311b2e4aac4f9d44/libraries/chain/include/graphene/chain/config.hpp

Every hour the total available reserve fund is calculated by finding how many BTS are available to be distributed and how many BTS will be returned to the reserve fund (i.e., "burnt") during the next maintenance interval.

First find how many BTS have not been distributed:
from:
max_supply: get_object 1.3.0
current_supply: get_object 2.3.0


then modify it by adding the accumulated fees and witness budget remaining (i.e., 1.5 BTS per block is budgeted, so budget remaining is 1.5 BTS * (number of blocks left in maintenance period+blocks missed by witnesses))  in this maintenance cycle (they will be added to the "reserve fund" permanently at maintenance)

variables all from: get_object 2.13.* (choose the most recent one, for example)

Next calculate how much is available to be spent on workers and witnesses is:

rounded up to the nearest integer

Ok, now to find how much workers will get in this budget period (1 hour), you find the smaller of the available pay AFTER subtracting witness budget from the total_budget OR the worker_budget_per_day/24 from "get_global_properties"


That is how much per hour allocated for all workers. NOW you rank each worker and pay them one hours worth of pay in order or # votes.