Notice: Steem-Engine leveling up. New abilities unlocked: staking & mining!

in steem-engine •  22 days ago  (edited)

I'm pleased to give notice on some forth coming new tools for Steem-Engine and Scotbot. We're giving you more flexibility than ever. Here's a taste to whet your appetite.

Faucets

All token economies have faucets and sinks. The real value of a currency comes from the number of people that use it, which is mostly dependent on the number of sinks for it, but distributing it into many hands remains important.

Crypto has a few major faucet types:

Selling: List a token for sale and people can buy it
Mining: Product A mines Token B
Staking: Staked Token A can receive more of Token A

and Steem introduced the concept of Proof-of-Brain distribution.

Through Steem Engine you can create a Scot and simply sell it. You can also distribute it with Proof-of-Brain distribution through Scotbot. Now Scotbot is getting two new abilities and we'll get them on the site for public use soon.

Delegated Proof of Stake Mining

Token(s) A mine Token B

When mining started it started with cpus, then moved to gpus, and now asics do the work. You're performing the same calc, but because of efficiencies you're able to mine faster and better.

The challenge with the mining equipment is that it's incredibly resource intense, and that's not great for the long term sustainability. So, we're digitizing mining and combining it with delegated proof of stake.

If you own Token A and stake it scotbot can now distribute token B based on your percent ownership (or delegated) amount of Token A.

If there are 200 token A in the world. 100 are staked, and you own 40 staked token A and 10 staked token A are delegated to you then statistically you'll get 50% of the released token B.

We go a step further because we're allowing various miner types to be sold.
CPU version mines at 1X
GPU version mines at 2X
ASIC version mines at 3X

Now how much of the token inflation you get is your overall stake weight of the various miner types divided by the total amount of mining possible. Also, the difference in efficiency is a variable users can set. How often it releases and how many ways it's split are all configurable. We're packing a lot of user control into how scotbot functions so you can fine tune it for your operation, business, or community.

I'm pretty sure you guys are gonna come up with some excellent way to use mining to mint tokens that have interesting use cases. Can't wait to see what you do.

Delegated Proof of Stake Staking Tokens

If you own staked token A you will earn inflation of token A.

There are all kinds of sprouting token riffs. If you own stake you get more stake. That is a cute idea in itself, but the real power is introducing a little bit of staking to a coin. It punishes the people who don't stake it and encourages everyone to stake the coin or miss out on inflation. Steem does this. It's not talked about much, but if you're not staking the token not only are you missing out on voting, but you're missing some of the inflation that goes to your account.

So, like everything else on steem-engine it's optional/voluntary to use. But you can set an inflation pool specifically to allow staked token A to receive more of staked token A while those who didn't stake your token miss out.

Going beyond the SMT white paper

While scotbot was initially inspired and used the SMT white paper as a guide for what we create we're moving beyond the tech specs Steemit released and creating more tools and utility for token distribution. We'll keep adding new cool stuff to the bot, to nitrous, and we have some more new things that we have coming up soon (wink sound).

Should be fun.

Now you're looped in. Backend on scotbot is done. Working on the front end through steem-engine. Shouldn't be too long before this baby is ready for public use. We'll update pricing for everything. We're eliminating monthly costs and replacing them requiring staked ENG based on services used and active users. I think you guys will dig the changes.

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@aggroed,
Seems like SMT is here and more than that also! Hope you guys might talk with STEEMIT INC and joint venture them and come up with one project!

Cheers~

It sounds amazing news ..!!

Posted using Partiko iOS

Cool shit man!

I’m excited for Steemit Inc to be like

“Oh yeah when we said SMTs, what we meant was SteeMenginedoTcom!” 🤣🤣🤣

Amazing, power to the people!!

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We're eliminating monthly costs and replacing them requiring staked ENG based on services used and active users. I think you guys will dig the changes.

Nice @aggroed this means I can finally look forward to buying and staking ENG tokens! I love how you just found a perfect reason to hold and stake your steem engine token ...

I also really wanna know more about the proof of work CPU and you mining and wether ot not it will occur through the web browser or a steem engine desktop pr mobile app?

Posted using Partiko Android

Interesting!

Posted using Partiko iOS

thanks for all you do @aggroed!


Hmmm ... we see soon how this works out in long run :) ... but very cool to see someting new come out :)


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Stake token to earn more token... Will everyone participate and I am wondering if there is a minimum to stake.

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

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Oh wow I never used the audio until now haha. It is the female computer voice of old haha

Wow @Aggroed , you do so much cool things here :D

sounds great, let's see what will happen..

I so love the staking options

You weren’t suppose to tell people of this functionality until after you ninjamined 95% of PALcoin. 😝

All this stuff sounds great. But for some reason my steemconnect.com doesn't work. I can't do anything there 😔

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use keychain, safer and better

Posted using Partiko Android

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Have not set one up yet. So this method is much safer then?

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yes, your keys are not going anywhere, supersafe. Latest version of Steemconnect is also better i hear but didn't try. Even SteemIt supports keychain now, way to go...

Posted using Partiko Android

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Good to be "in the know" when it comes to Blockchain tech. There are so many who are left behind already and do not even know it.

Posted using Partiko Android

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Steemconnect works very well..!! Maybe you should change your browser for Firefox if you are using another different.. I use this because Steemconnect doesn’t work in Mac.. So. Firefox works very well..!!

Posted using Partiko iOS

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it works very well but your private keys are stored somewhere on a server and you run unnecessary riscs. With keychain, your keys stay with you all the time, they are not sent anywhere!

Posted using Partiko Android

I believe this would be amazing . I always appreciates your efforts . Will give it a deep look soon

Here we go, Please the official blockchain holders don't just Tease SMTs. Turn them into reality, Our DEVS are awesome. Thanks @aggroed

How to mine these on computer? Any help? Any tutorial please

Posted using Partiko Android

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excelent tutorial

Hello, it sounds good, it diversifies and makes the community grow. thanks for your contributions I want to participate in all innovations. @patinez

good news
your hard work is appreciated steem engine

Faucet sounds good where can I do that

Posted using Partiko iOS

Highly rEsteemed!

Screen Shot 2019-05-23 at 7.17.02 PM.png

This post has been resteemed!
Good luck guys!

Steem will win due to such projects!

Nice post @aggroed

Go Go Mr Aggroed!

Really good news. Steem-Engine is good

Holding the ENG token in my account is key then? Or will it be sold in another manner ?

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ENG probably will just stay regular token with no mining.

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Hello, @aggroed

the @battlegames have an issue with those staked mode
He did not see the people who staked BATTLE tokens
https://steemit.com/battlesquad/@battlegames/battle-squad-month-end-prize-draw-winners

Can we (the average user of steem-engine.com) check the list of the any token holders and token stakers now?

Also - not a static - who stake the amount tokens to the time you look the list, but also it need to proof that I was staked 1000+ BATTLE in the May.

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@monsterstamer - We are good, we now have a block explorer all set to show us this info!

#steem and #steemit are going places.....!!!!!#esteem

inflation pool specifically to allow staked token A to receive more of staked token A while those who didn't stake your token miss out.

A powerful tool, looking forward to this feature!

Congratulations @aggroed!
Your post was mentioned in the Steem Hit Parade in the following category:

  • Pending payout - Ranked 1 with $ 214,95

Nice :)

Exciting changes.

I’m not sure I follow how are you digitising mining but still using CPU, GPU, and ASIC miners? Looks like a great initiative but I’m a bit slow to understand some of this stuff, sorry

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Thanks for this wonderful development....

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Great work, @aggroed & for jumpstarting @APPICS

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