DHF - Is the DHF truly decentralized, or does it largely depend on whale decisions? How do you think the DHF could be improved to be more decentralized? How do you think making the DHF more decentralized would help the blockchain, its users, and projects?
Hello #qccommunity, I trust you are having an amazing time out there. Even if that deal hasn’t clicked, keep on pushing and keep your eyes on the ball. It will come through someday.
Since I joined the Hive blockchain. I have been participating in many activities such as voting for witnesses, joining communities, and voting for proposals. Most often, I read through those proposals and their objectives. However, that moment might really be enough to digest the goals and objectives, but at the end of it all, I will cast my vote, especially when I read a few lines that align with me.
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DHF (Decentralized Hive Fund), from my findings, is about requesting funding from the blockchain to develop and run the Hive blockchain smoothly. This is normally submitted in writing, presenting a proposal for such work, stating the cost and justifying why the Hive blockchain should trust the individual/s with such funds.
However, the good news is that it is an open activity and everyone on the Hive blockchain has the right to either vote or abstain. There is also a timeline attached to it after which, if it didn’t sail through, it could be returned, and the individual/s left with the option of letting go or trying again.
The dilemma is that the majority of stakeholders are still in the entry or middle level of Hiving; on the other hand, some heavy stakeholders can easily decide the fate of these proposals. In other words, irrespective of the fact that it is thrown open, the heavy stakeholders' vote carries the day.
This is because HP is a major determinant that gives the voting power percentage. So, from my understanding, the voting received from those heavy stakeholders and a little support from the majority will perform the magic. Though I am still learning the dynamics
To balance this equation, lol, I suggest capping voting for heavy stakeholders while allowing those in the lower region to vote without capping. Furthermore, there should be an enlightenment and awareness program for all users on everything about DHF. Though I have joined some online programs about Hive on YouTube and a Discord channel on a few occasions.
Finally, there should be a form of enticement or incentive for stakeholders at the entry and mid-level to encourage mass voting from them. All these points will work towards a better decentralised, repositioned, and transformed Hive blockchain.
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