An updated version of the whitepaper just came out. A copy can be downloaded here: Steem Whitepaper. I spent time reading after being in the platform for a week and have always wondered when the updated version will come out. There's been lots of changes since the whitepaper I first read was publish in March 2016. I was thinking about re-reading the document and saw that an update was published on the 30th of August. In this post I will try to highlight the key updates in the updated white paper.
- The first change that will be noticed when reading from the start of the document is the vesting schedule. "multi-year" was removed altogether.
- This last paragraph from "Recognizing Contributions" was removed.
- Acronym for Steem Dollars in "Ways to Contribute" was corrected from SMD to SBD
- From a four paragraph description of Steem in "Ways to Contribute" it was simplified to this:
- These two paragraphs in 'Steem Power' under 'Ways to Contribute" highlights key updates 1. 104 to 13 weeks vesting schedule, importance of Steem Power in users' influence in the platform, and disambiguation of the interest paid to long term commitment via holding of Steem Power.
- In 'Minimizing Fraudulent Feeds' under "Ways to Contribute" "witness" was mentioned and added to the earlier version merely describing what they are and what they do.
The 'Voting Collusion' under "Ways to Contribute" was appropriately renamed to "Voting Abuse" recognizing the issues related to abuse in use of voting power for what it is.
'Rate Limited Voting' under "Ways to Contribute" now clearly states how voting power recharges at a linear rate of 20% per day.
The whole 'Delayed Payout' was removed
'Payouts' now talks about the option to switch to be paid in 100% SP
I stopped at page 17 of 32 and plan to rest my eyes some before continuing and finish the comparison. I will start in a couple of hours after having dinner here in Manila. I hope to be able to highlight key changes done to the documents for those who are yet to find time to read it in full.