Post
Topic
Board Altcoin Discussion
Re: Steemit how can this thing be workable long term?
by
smooth
on 21/07/2016, 05:06:00 UTC
The design choice to give whales quadratic (votes x votes) influence

No, the post payouts are determined by some function based on sum(votes)^2 not sum(votes^2) so user stake weights are basically linear. Post weights are quadratic giving the "lottery" payoff effect (also necessary to ensure that people who vote for themselves with no agreement from others end up losing on average), but it doesn't matter if one person votes with 10X stake or ten people with X stake.

An earlier version of the function was more heavily weighted toward larger stakes but that was removed (even though the extra weighting is a positive in some ways).