Proposal for Resource Credit Delegations (RC Delegations)

in steem •  2 months ago

Whenever I hear the term "credits", I have to think about a futuristic world. And I'm sure that Resource Credits will play a big role in Steem's future.
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After reading @indigooceas comment under HF20 Update: Restoring Continuity, where she made an argument that small users still don't have enough RCs to interact enough, I came to the conclusion to write this post.

Because I understand the problem she describes, as the interaction restriction can be harmful for the growth of Steem.

Problem: Restrictive Limits For Small Users

If a user wants to write 20 sincere comments per day, then he/she should be able to do that and not limited by a limit of 10 comments due to RCs.

But on the other side: a user without any stake in Steem shouldn't be able to abuse this non-existing power, by being able to send hundreds of transfers.

Currently, the only way a user is able to gain RCs is by having more Steempower. Either by powering up some Steem or by receiving a delegation.

And I understand that there is the possibility of increasing the default RCs every account receives again (how it was recently done with 10x)

The Solution: RC Delegations?

But what if RCs could also be given by delegation - without the need to give away Steempower.

dApps like Steemit, Utopian-io, Dtube, SteemMonsters or even services like Smartsteem could delegate RCs to their userbase.

And the advantage of this method in contrast to increasing the default value is, that bad actor could have their delegation removed. Similarly, how @steem is removing SP delegations from bad actors.

On top of that, it would also create a market to RCs that will bring value for those owning a lot of RCs. Similarly, how people are able to delegate RAM, CPU & co. on EOS, STEEM would have it's own system of resources that can be delegated away.

And the best thing: RCs aren't a speculation assets - they have real value and will be needed even more as Steem grows.

RC Delegations Implementation Might Not Be Easy

Now I understand that the implementation will not be that easy.

As for example SP delegations currently include RC delegations as well. And if someone has delegated 90% of their RCs away, but none of the SP, then these SP have to be treated similarly how Voting Mana is used to check how much SP can be delegated (If you have 5,000 SP but only 50% Voting Mana, you can only delegate max of 2,500 SP)

But I believe that nearly every obstacle can be solved when enough brain-power is being used to solve it. And there is actually another big reason why I believe that RC delegations are the way to go.

Global Adoption For Steem As Payment

In my opinion, one of the biggest obstacles for Steem to be used as a payment form by many users was the fact that accounts were very much exclusive.

If I wanted a Steem account, I had to pay for it. And in comparison to other blockchains (BTC, LTC, ETH) where you're able to create a wallet for free in less than a minute, the fact that I needed to own crypto first to be able to buy an account or having to wait weeks to be confirmed by Steemit Inc. - is in my opinion a very big limitation for growth.

Now, with the introduction of discounted accounts, which are pretty much unable to transact but still can receive Steem, this problem has been resolved.

But an account that was only created to be used as a wallet, without interacting on the blockchain in social form, there is no need for Steempower. Such an account only needs enough resource credits, so they can make transactions.

And if RC delegations were available, Steem would be able to use it's advantages to the fullest (3 second transactions which are pretty much free).

I personally would love to use Steem for everyday purchases and now, with accounts theoretically being available for 0 costs for the user, this goal could become reality.


What do you think?

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Talked about this yesterday with @tarazkp. I think it's a very nice idea. If Dapps become popular there will be a huge need for RC's. Instead for them to ask for SP, which might be harder to get because people don't want to lose their curation rewards and voting value.

Being able to delegate/sell RCs could solve the problem for Dapps with low funds to be able to sign up a massive amount of users.

But a new use should be able to make about 10-20 comments each day without paying for anything for a pleasant user experience.

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Being able to delegate/sell RCs could solve the problem for Dapps with low funds to be able to sign up a massive amount of users.

Exactly!

But a new use should be able to make about 10-20 comments each day without paying for anything for a pleasant user experience.

Yes and I think that new users are able to do that, at least 10 comments.

I'd be ok with just having RC transfers, if mixing delegation systems would be too problematic.

(Assuming we want to enable moving them at all. But there are definitely some users I would like to give some of mine to, not to mention being able to distribute them among my own accounts in a different way than I want voting power distributed.)

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How would RC transfers work out in your opinion?

I love the sound of this change in the account creation process and really hope it works out for the better.

I'm a simple content creator and producer, so the technical side sometimes goes over my head. However, listening to my peers here in Steem, it sounds like the right foot forward!

I think it would be great if RC delegation was possible. I see for myself that I am not able to to use my daily limit even if I tried. And I know smaller accounts that struggle now to even post and reply comments on their own posts. Not to mention go visit others and mingle a little. They do get very discouraged at the moment.
Renting some to them would not be a problem.
Also communities could help out their smaller members that way until they get enough of their own.

This is very timely and much-needed post on the newly introduced complex topic resource Credit. Thanks for putting your efforts and helping newbies like me to understand it. I appreciate your help @therealwolf. Sharing this post with my followers.

i love this post , its very interesting

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Separation of RC from SP is not a good idea.This will negatively affect the price of steem.I predict that the price of RC delegation will be at least 10 times cheaper than the SP delegation.So it will decrease the amount of money invested in steem.

You are a small user and you wants to write 20 comments per day?

You can lease 100SP for just 1.5-2 steem per month (minnowbooster.net - delegationhub.com/steem/ - blocktrades.us) and you can comment more than 30 times a day.
What's the problem?!
Why should we complicate even more steem blockchain?!

I think that RC Delegations might be a good solution to provide small accounts with more power to act on the platform.

Is there a mechanism to see new accounts so that big accounts could check their interactions (posts, upvotes, comments, ...) and distinguish between real persons and spamming accounts?

I woukd agree as with the tweaks done to resource credits over the last couple of days, it makes it muchnmore abundant of a resource (maybe too much). I can engaged with dozens of comments in a an hour or so and have seen that my RC barely goes below 97% as it also seems to recharge quicker now too. With that in mind, it seems that my account would have an excess of RC which I can deploy of necessary. It would be great to have the option to do so without impacting my influence in the ecosystem or my SP. It could be uses to onboard new users or provide bandwidth to smaller accounts to actively engage as long as these are adding value and not abusing. It would lead to a great economy within the protocol as long as it is not abused and gives way for spammers again.

Two questions first:

Why are comments 5-6 times more expensive than other transactions? (more precisely, those transactions currently listed on steemd.)

As RC is dependent on VP, isn't such a design specifically aimed at encouraging either investments into STEEM or delegations (just as now)?

The idea is worth exploring, I just wonder if there are other solutions to the problem of newbie interactions.

Also, within the context of the coming SMTs, unlike other blockchains, Steem transactions are free, in the sense of cost-less, and so the cost of transacting is buried inside the RC parameter. This means that owners of new SMTs have to ensure that they have enough resources to even contemplate setting up their coin. That is my understanding of the future mechanics.

What do you think?

Another vote bot salesman's scheme.