How is the reporting work divided among REP holders? I assume that it will be proportional to the REP tokens a person holds. For example, if I hold 2 tokens I'll have to do twice the work as a person who holds only 1 token, is that correct?

What is the amount of time one must spend in reporting in order to be elegible to obtain the reporting fees?

REP holders can choose to do no work (though they won't receive fees) or they can do some work and receive fees (proportionate to how much REP they stake on that work).

Work is divided up per REP holder, not per amount of REP. Having a larger share doesn't mean you will have to do more work. It is best to not think of REP as a labor token but instead as a security token. A small amount of work is required to apply your security, but the labor isn't really what is being paid for.

As to how much work is required, it all depends on how smoothly things are running. If everything is running perfectly smooth then there will be very minimal work required because all (or almost all) markets will resolve accurately in the self-reporting phase. In this case, REP holders will simply need to show-up once a month in the UI, click a few buttons, sign a transaction, and then come back a month later.

If things are not running smooth then the amount of work is bounded only by the number of markets there are, where reporters will need to do some amount of work for every market (research correct outcome).

  • This design decision might in long term harm the distribution of REP and centralize it. – tobi Aug 29 '17 at 14:00
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    Centralization of REP does not hurt the security that REP provides. The system is designed such that a single actor holding all REP is just as cryptoeconomically sound as a million actors holding small amounts of REP each. – Micah Zoltu Aug 29 '17 at 16:14

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