Steem Bounty : Steem Shared Accounts and Rewards Sharing

in steem •  5 months ago

shared-keys.jpg

Recently I wrote about my plan for using a set up of creating shared accounts and sharing the rewards which would reduce the risks, as each party is in control of their own funds and there are only delegating the Steempower for the shared account to function with maxiumum clout. You can read more about it here https://hackernoon.com/steem-shared-accounts-959aea6ba92d

If you want a TLDR version checkout this image.
Steem Shared Accounts.jpeg

I don't this should be a hosted script as people will have trust issues. So I am thinking of this as a nodejs script that I can run on server by passing some variables Account A, Account B and the details of shared Account AB.

The script can also be generalised to share all the rewards in the ratio of SteemPower delegated to the shared account so that it can also be used by other users.

You can send your Github Pull Requests to https://github.com/steem-projects/rewards-split

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That's a pretty interesting idea! From Steem/blockchain side it's basically all there to implement this via multiple keys or auth accounts in combination with a threshold > 1. You'd need this for at least the active and the owner permissions. Posting permissions may be possible with threshold=1, depending on the trust between the parties. What's mostly missing is the client side. There are libraries like piston and others that can pre-sign a transaction and enable to hand it over to the other party to add the missing signature(s). But realizing a ready-to-use and safe implementation thereof is still a bunch of work I guess. Additionally you have to keep track of the fund shares of each party. For example if one side decides to cashout or power-down parts of his share, then the reward sharing ratio for all coming author/curator rewards changes as well. Is this best done with an external database, or reconstructed each time from the full account history? Maybe periodic funds share snapshots via custom_jsons or alike could simplify this...

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Thanks for the inputs. I think these inputs will be very helpful. I am waiting for a solution. If nobody comes out with a solution, I will consider coding it myself.

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I am wondering if we could create a way to have new accounts without having a new account.

I.e. think about as platform I want to onboard users. Every new account costs me 0.2 steem. So what if I were to create an account without creating a steem accounb and using my own account instead.

Then when the user has earned 1 steem, i will create its real steem account if it wants to have one.

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That does make sense. But I think it should be mentioned in clear terms before the user on-boards. This is more like you are acting as a custodian for the new users. Some users might have concerns with you collecting the rewards on their behalf. With HF20 new user creation is suppose to be much more easier than it is now.

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Yea we will see

too confusing for me, sorry :c

Great idea. Makes it a much simpler process and decentralized the coordination and trust required to share an account today. Time to implement as this could really improve Steemit.

It's a great plan I think. Your flow chat made me understand. It's pretty impressive.

Buena info amigo espero seguir viendo mas como esta @gokulnk

These share accounts would be so cool :D

I am looking forward to this

+1

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Excelente información amigo, me encantaría seguir viendo mas cosas así amigo @gokulnk

Very interesting.

To be honest it's not quite clear to me that shared account generates profit via curation and the profit is then split in the ratio delegated to that account? Do I get that right? Or is there a other way that shared account will accumulate rewards in form of SBD and STEEM?

Sounds interesting though!

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Primary source of profits will be curation and author rewards. There could be other sources as well but I don't know what they could be right now. As long as the rewards are split in the ratio of the SP delegated since the last split I think we can live with it for now.

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I am sure there will be a market for it. Everyone finds a different way to use and succeed within Steemit and a portion of them will go this route.

I have read your article on Hackernoon / Medium and yes, I agree it is quite interesting concept. I guess this would normally work with accounts who have absolute confidence and trust in each other, right?

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@zorank that is right. Using this for now as there are no better alternatives as of now.

a very attractive and interesting idea, I am completely agreed with you, you have my 100% support

This is an interesting concept. When do you expect to have this completed?

I will do so in the future...

A simple closed system, I like it.

It should be open source to allow community members to build upon. For example if it's chained (replace 'Reward share of Alice' or 'Reward share of Bob' with another 'ALBO' or shared account) the possibilities are limitless.

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Yes this will be opensourced. If I get a solution it will be updated on https://github.com/steem-projects/rewards-split

As you mention this can be further nested and the limits are endless. Lets hope that this will also drive more intuitive UI for Award splitting, shared accounts that is inbuilt in blockchain.

key of sucess

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I don't really understand
Are u saying shared account reduces risk?

¡Hola ! Te felicito por tus medallas @gokulnk un año en Steemit, son muchos los sueños que se realizan en un año, que sigan los exitos, que sigas alcanzando tus sueños, espero hagas tu nuevo proyecto de las cuentas compartidas, todos los comienzos son dificiles, pero con perseverancia se llega a la meta, cuidate un fuerte y cariñoso abrazo

I'm not so sure about this.. but we shall see if it becomes a thing.

anything to get me more steem!!!

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