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RE: General Introduction to the Steem Virtual Machine (SVM)
@Blaze.apps, this is an extraordinary announcement!
The presentation of SVM (Steem Virtual Machine) is the most strategic technical advance that the Steem ecosystem could ask for. Achieving an EVM-compatible fork in the Cosmos SDK v0.54, using the official EVM module and, even more, integrating social identity through SvmNS, is an engineering feat.
Security and governance of the bridge are now the main focus. Since trust in the developer is an asset that must be earned, I propose the following to generate security in the community:
- Transparency of the Multisig: The decision to make the bridge a multisig vault is inevitable in this phase. I suggest that, before moving any real STEEM, the election of the signatories be an open and exclusive vote for the main Witnesses and Steem Holders. This should be an act of on-chain governance in Steem, not just a discussion on Discord.
- Security Audit: It is essential to budget an external and independent audit for the bridge module code. This will turn the "code only" into "verified code," which is the language of trust in DeFi.
- Open Source Priority: Quickly fulfill the promise of "Open-source core modules" to allow community review.
We are ready to break the testnet, test SvmNS and start discussing the first DeFi/NFT use cases. This is the right way to take Steem to the Cosmos and Web3 era.
Hello @alejos7ven,
We're still in the process of deciding who should be the signatories for the multisig account
@svm.bank. I believe this is a decision that must involve broader community input, not just a technical choice.It’s not only the bridge code that will be audited — the entire EVM stack will undergo a full audit.
I’ve already discussed this with validators like @cur8 and @h4lab, particularly regarding how we can secure funding for the audit. There are several reputable companies and platforms we are considering, such as:
We’ll figure this out together — step by step.
🔧 Upcoming Development
One more critical component under development is the consensus-based minting module. Once this module is complete, all core components of SVM will be open-sourced.
Thank you sincerely for your valuable feedback and continued involvement in this journey.
If you'd like to participate in discussions more actively, you're welcome to join our Discord — the link is available in the main post.