I was contemplating on starting a Steem Torch social experiment to test the speed and trust of transactions on Steem. It would be an experiment similar to Bitcoin Lightning Torch. If you have not heard about it yet, you can read about it here.
Steem offers free and fast transactions for transfer of value. Steem has a vibrant community and sub-communities full of trustworthy users. So why not test it with Steem Torch Experiment?
It is a simple Steem transaction with a memo "Steem Torch...". The experiment itself is a chain of transactions. For example, user-A sends "Steem Torch" to user-B, then user-B sends to user-C, and so on. Idea is to see how fast transactions happen and how far the chain of transactions would grow.
The memo would be something like this: Steem Torch Experiment. Count - 1. Please read the rules at https://steemit.com/@user/steem-torch before passing on the torch.
Memo consist of 3 parts:
- "Steem Torch Experiment." Doesn't change.
- "Count -
count_number." Users will need to increment the count_number by one when passing on the Torch to another user. - Link to the rules. Doesn't change.
I will send the initial transaction of 25 Steem to a user I trust who will follow the rules of the experiment with the Steem Torch memo. It is important to send the torch to an active user and trustworthy for the continuation of the experiment. If the torch keeper chooses not to participate, doesn't see the transaction, decided to keep the funds, or just inactive then experiment ends without much success.
So, it is up to the torch keeper to choose carefully who to send and maybe inform the user in advance.
After receiving the Steem Torch transaction Torch keeper needs to pass on the Steem Torch to another user as soon as possible.
Torch keeper may choose to add funds to the Steem amount received. However, they must not decrease the amount. It is up to the torch keeper how much they would like to add. As little as 0.001 Steem or nothing is fine.
Torch keeper needs to choose a user they trust who will follow the Steem Torch rules and pass the torch to another user as soon as possible.
Torch keeper needs to add the same memo that they have received, with only changing the count number and incrementing it by one.
When Count reaches 10000, Torch Keeper can choose to stop the experiment. Funds can be donated to Steem based charities, distributed to minnows, or burnt. Torch keeper must not keep the funds. Alternatively, the Torch Keeper may choose to continue the experiment and pass it on to another following the rules 1-4. In this case, the next milestone will be 20000. When 20000 is reached, Torch keeper again gets to decide to stop the experiment following the rule 5 or continue the experiment. Every 10000th transaction new milestone is reached.
I think all of these transactions can be pulled programmatically to track the chain of Steem Torch transactions. If I figure it out how I will make a daily post of the progress listing the transactions. That is if it doesn't fail right away. If anybody knows any efficient way of pulling this data, please let me know.
Let me know what you think. Do you find it interesting/boring? Would you participate? Any suggestions are welcome.