A key feature of Shift is that the stakeholder like you vote for the delegates who maintain network security and stability for your money. The more coins you have, the more “voting power” you have. This means that a vote from someone with 10000 coins counts 10000x more then someone with only 1 coin.
Voting has a fee of 1 SHIFT and you can vote up to 33 delegates with one vote, 101 in total. So it is your responsibility to choose wisely, just like you would in a real election.
There are two types of delegates: Pools and Solo. Pools simply share a little piece of their profit to thank their voters (official_pool). The amount you get normally depends on how much of the rewards the pool owner shares and how much voting power you have.
You shouldn’t vote for multiple delegates that belong to one person, since that would defeat the idea of decentralization and partially threatens the stability of the network. Why? Imagine the owner of these delegates wouldn’t be around for some time tomorrow. In this time, both of his servers can break and threaten the stability of the network double, because he has two bad delegates and not one. You concentrate the risk of failure into the hands of few.
Another very important detail about delegates is their uptime / productivity, which should be close to 100% to make sure that the network can run stable all the time.
If you have more questions regarding the principle of voting, please read through the “A Beginner’s Guide” series, in particular the solutions to Blockchain’s problems.
Besides that, feel free to vote for official_pool, jan and seatrips who a part of the team, but I would be very grateful if you could also vote for my delegate nytrobound 😉
Since we covered the theoretical part, let’s start the practical part.
- Login to your wallet with your passphrase and click on “Forging” on the sidebar.
- Since you aren’t forging blocks yourself, click on “Delegates” on the top bar.
- You can either search for the delegates name in the search bar (top red) or look for them by scrolling down and looking at all delegates page by page (bottom red). After choosing the delegates you want to vote for by clicking on their rectangle on the left side, click on “Vote” (top green).
- After pressing “Vote”, you will be presented with the list of delegates (red) you choose to vote for. By clicking on “confirm” you approve the list and have successfully voted for them. If you have setup a 2nd passphrase (STRONGLY recommended), it will ask you for that after you pressed confirm. For more information on the 2nd passphrase click here.