How Cool is HIVE
I've recently discussed some of the coolest aspects of Hive. Chief among them being bandwidth priced transactions that make normal use effectively free for most users. Ethereum is an incredibly useful paradigm with some major flaws that present themselves in the form of fees that exclude all but the wealthiest people from using that platform.
What We Have
For years I've been developing Decentralize Limitless User eXperiences, dlux, with @markegiles. We've pioneered several concepts and applied them to STEEM/HIVE to build our website with cutting edge decentralized application publishing features, in the same bandwidth controlled manner as HIVE.
We built the first decentralized token ecosystem on HIVE, a Decentralized Atomic Swap Exchange, the IPFS application gateway, the first VR chain explorer... and so much more to support our goals.
We've also generalized our software and open-sourced our methods so others can do the same with out paying for it. We believe in decentralization, and we've put our labor up front to accelerate a shift in society.
What's Needed
In our opinion the biggest thing that's missing for HIVE to support a full smart contract platform is autonomous multi-signature capability. Roughly, this is software that interested parties run to "shard", or split responsibility of action, so that some accounts are responsible for performing financial actions defined in smart contracts. Whether it's the Ethereum Virtual Machine, EVM, @klye is intent on bringing to Hive, making our DEX fulfill partial trades, or setting up a market for account creation with the "non-transferable Account Creation Token" we need a way to distribute the responsibility of the financial actions so a central party isn't responsible for keys, actions, and attack vectors.
We have developed so much of this system that we can explain it in gory detail to any that are interested.
- Collateralized Hive accounts perform such actions like Send, Escrow Release, Account Update, and Account Create from a community owned, multi-signature account.
- With a simple majority needed to authorize these functions it would also take a simple majority to stop these functions.
- Being collateralized also sets limits on how much Hive can be handled safely.
- Accounts stay in the governed group based on consensus attestations and continued performance of required actions.
In short this is a pure Proof of Stake side chain, that autonomously performs actions to support the feature set of the application. Like EVM contracts, Development proposals, and DEX transactions.
100% of this work has to be open source. Due to this our work is very likely to be copied with no benefit to us. For this reason we are asking for $400 HBD per day for 90 days.
We intend to immediately convert all HBD to HIVE which follows the @smooth method for HBD pegging. Our final product will be useful to run @smooth's program by a community so there is less risk to the DHF of that hbdstabilizer, a single signature account, being an attack vector for theft.
Intent to Utilize Funds
I personally intend to convert HBD to HIVE and build my Hive Power Balance over time. It was very discouraging for me to have to power down the Hive I currently have in order to continue working on this project. While previous proposals have received over 90% of the support needed to achieve funding with the cost of Hive under 20 cents, it's now over 50 cents and therefore much slower to accumulate the same HP. Never the less, if HBD is over $1 I will set aside up to a day's buffer (to protect against drops below $1) and return anything in excess of the buffer, as well as the buffer once the proposal is finished.
TL;DR
- Request for $400 HBD per day to aid in the development of Smart Contract Machinery
- Promise to return excess dollar amount to DHF
- Funds go to myself and @markegiles foremost, and subsequently to pay for additional services or labor.
- We have an incredibly long history of providing services to HIVE
/STEEMand tools that have been freely available longer than similar billion dollar services on other blockchains.
Support us by voting on proposal 171
Thanking our past supporters
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