Introducing (smart contracts and token creation on Steem)

in #steemengine4 years ago (edited)

Steem Engine Logo

@yabapmatt and I, in partnership with @harpagon, are launching a platform and accompanying website called Steem Engine ( with an initial focus of allowing the creation of custom tokens on the Steem Blockchain.

Smart Contracts on a Steem Sidechain

Steem Engine uses the Steem Smart Contracts software, built by @harpagon, which is a smart contract enabled sidechain platform built on top of the Steem blockchain. Initially we're launching with a limited set of smart contracts enabled which allow anyone to easily make custom, simple tokens on the Steem blockchain.

Make a token now

It will also "soon" include an internal market, very similar to the existing STEEM/SBD market, to allow all tokens created on the platform to be traded against STEEM. Special thanks to @asgarth for help on the market user interface design and development shown below. Testing on the market has already begun.

We hope that the ability for apps to use Steem for their token sales rather than Ethereum or other similar platforms will drive demand for the STEEM token and allow many apps and dapps to migrate and raise money here before the SMT platform is ready.

Standardizing Tokens on Steem

Currently many Steem projects are setting up their own temporary tokens using various different methods, while waiting for the mythical SMTs. We think it will be very beneficial for both token creators and token holders to have all of that be in one place, working in a standardized way, with a robust toolset.

One of the biggest benefits to token standards like ERC-20 is that any app, wallet, exchange, etc, only has to do one integration and then they can support any token using the standard. We would like to do the same thing for Steem tokens. Once any app, wallet, exchange, etc integrates with Steem Engine, they can instantly work with and support any of the tokens created on the platform.

Currently with Steem Engine, users can easily see what tokens are available, view balances, and make transfers right from the Steem Engine website] as well as the Steem Keychain and very soon the Steem Plus browser extensions.

Steem Engine tokens vs SMTs

We want to clarify that Steem Engine Tokens are different than Smart Media Tokens (SMTs) currently(?) being developed by Steemit, Inc. SMTs will be tokens that are native to the Steem platform and their transactions will be validated by the same software which currently runs the Steem blockchain.

Steem Engine, on the other hand, will have all transactions posted to the Steem blockchain, so that they will all be available on a public, immutable ledger with deterministic, consensus-based transaction ordering and finality, however the validation of the transactions will be done by a separate piece of software (the Steem Smart Contracts software created by @harpagon).

Just as with the Steem software, the Steem Smart Contracts (SSC) software is free and open source and anyone may run their own SSC node and independently verify the transactions and query the current state of the system.

Advantages of Steem Engine vs SMTs

SMTs are planned to have a certain, fixed set of smart contracts implemented which are very similar to the ones currently in place for the native Steem blockchain tokens revolving primarily around content publishing and reward distribution.

On the other hand the Steem Smart Contracts platform, on which Steem Engine is built, will allow arbitrary, custom smart contracts to be published, similar to platforms like Ethereum and EOS.

While it is our ultimate goal to allow anyone to publish their own smart contracts to the platform, in the meantime the software is set up such that only the @steemsc account, controlled jointly by @harpagon, @yabapmatt, and myself, is able to publish new smart contracts.

The point being that it is possible to publish custom smart contracts to the platform to allow token and dapp creators to build things that will not be possible with SMTs. If you would like to create a custom smart contract on the platform, please get in touch with us on the Steem Engine Discord and we'll work with you to get it up and running!


We can provide more detail in the coming weeks, but right now we're focused on:

  1. Improving the Steem Smart Contracts platform
  2. Launching the DEX for trading tokens against STEEM
  3. Building tools and interfaces to support common types of token distributions
  4. Putting in place a legal services division which enables dapps to incorpate and register a Reg. D security token offering in the US which allows up to $5M/yr to be raised, including from a limited number of non-accredited investors, in a fully legal and compliant manner. Some restrictions apply.

We expect major progress on all fronts in February and through the end of March.

We’re ready for you NOW!

We’re executing our soft launch right now! If you run an app it’s time to create your token on the platform! This starts immediately!!

Make your coin right now

We have a full public launch planned in the next few months, which will include a PR campaign to get the word out inside and beyond the Steem community.

If you have a token for a Steem-based project, or are considering creating a token in the near future, please get in touch with us about launching on the Steem Engine platform. We can coordinate marketing efforts and get the word out together!

Let’s get started tokenizing the internet TODAY through the Steem Engine platform, built on top of Steem, and supported by websites and apps you run.

Happy to answer questions on getting started.

Join us in Discord and be sure to follow the @steem-eng account for future updates!


Holy sweet merciful crap. You guys did it. This is sick. I am still laughing at the innuendo on the Steem SMTs.

Excellent spam. Well worth $1.21! The blockchain rejoices.

Show me where else I've posted this same gif!

Who said anything about posting the same gif?
You're a spammer and you know it. Waste of blockchain resources. Muted!


i agree but imagine when the Ai executes people in the future "You are a inefficient allocation of the blockchain resources, executed" lol so cold man

Imagine all the SteemMonsters cards he can buy off that!!!

This is potentially very exciting for steem. I wish you guys the best of luck with this!

Thanks for you guys hard work providing an option for Steem dApps :)

I have two questions.

Firstly, on the steemsmartcontracts repository, it says

  • implement the P2P layer
  • implement the Consensus layer (PoS? DPoS? other?)

features are on the roadmap.

Does that mean only Steem-engine team (a central server) is able to create blocks on the side chain and others can only verify them at the moment? How is the timeframe for P2P / Consensus features get implemented?

Secondly, is it possible for Steem-engine tokens to be listed on major exchanges in the future? I guess that's only possible after P2P / Consensus layer gets implemented, and the consensus (maybe using ENG token staking) should be distributed enough so it won't get 51% attacks?

Some notes from @harpagon

"we are not the only to be able to run a node, but without the consensus layer, we are, I guess, the most trustable one
the tokens can be listed a conventional exchange, as long as this exchange has a Steem account
the tokens will be held by the Steem account (and then the exchange will have it's own ledger, trade history on it's side, like binance does with Steem/SBD for example)
but yes, all that requires to have a trusted network of nodes"

We're tentatively expecting the p2p/consensus layer to be done in the march/april timeframe (crystal ball is brand new here)

i had no idea we were ok to use witchcraft in steem!

i had no idea the business world was this cooky and silly lol

i love this idea tho and a crystal ball isnt witchcraft, atlanteans were using crytal spheres i mean its justa a sphere

hey 9 months later you did pretty good aggroed!

9 months in can you give me a 3 sentence assessment of how well you think you did? and what you wish you had now?

I feel liek we are still needing a network of ENg nodes? We can have that with eosdac eos eng :)

i also wanna have some system of ENg nodes im sure you guys have that planned, like steem based ENG nodes that you can stake like 1000 or 10,000 nodes

wait is ENG miner that?

hehe im so stuck in POW world sometimes :D I forgot you have Engine Miner and EM4...

I guess what I really want is for @vessel or my fork @fireboxwallet to have stem engine in vessel

I join the question - is there also a point to join newcomers ??

The first user has already issued one million STEEM and one million SBD tokens. And there are BTC too. Wouldn't it be advisable to restrict the namespace for newly created tokens?

reminds me why i joined steem and fell in love with this place!

honored to be a part of this amazing community and CAN’T wait for steem engine to set the bar. this is gonna be awesome.

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estas en lo cierto amigo para mi esta red steemit es lo mejor que e visto actualmente en este año saludos desde vnzla

Igual yo amigo. Esto es genial. y lo que viene sera mucho mejor

I created 2 coins, issued millions to various community trusted accounts, and never saw a bug the entire time.
@wafrica and @artzone salute you all!
Rock Stars of Steem, TY!

The Steem pioneers have blazed another trail into the future of cryptocurrency. It is truly amazing how a relative few people with
a common cause can accomplish such truly great achievements.

This can only signal the inevetiable increase in the value of Steem.

The future of the INTERNET IS HERE.
I know it when I see it, I been calling it for decades and this is IT>

Its a great development and am happy about it. I created account with Steem Engine and bought 5,000 ENGs for a trial mine of tokens for my Steem-based project to be unveiled soon. THis is one of the best things that is happening to this platform. Thanks to @yabapmatt @Aggroed and @harpagon for this. Posterity will not forget you.

It remains to be seen if ENG will be a good investment but I thought it was worth a try to create tokens.
Great app, bug free in my extensive testing...

Oh hell yeah! Been waiting for this announcement!

@jongolson and I got on-board with this project as soon as @Exyle told us about it a few days ago. No hesitation on our part, we created a token within the hour and want to support this in any way we can.

Like so many, SMTs is what first attracted me to STEEM. Since that option seems to be somewhat vague in it's potential release, this is an outstanding 'community generated' response that allows us to move forward.

Let's ROCK us some @steem-eng !

Building the STEEM blockchain with Savvy solutions!

Smart Contracting on Steem. Great stuff. I call this the Steem Renaissance. This help the community best see the power of graphene technology how it was architect from the beginning. SSC software will also help design different contract that SMT may not suit for. Wit the Steem WP coming in these are type of things the community will be supporting to advance Steem, due the propose inflation proposed in the WPS. Congratulation guys. Loving it already.

This is great work!
I'm quite interested in using this platform for the tokens for @jpbliberty's Class Action against the Crypto Ad Ban.
I had been planning an ERC 20 token but now am so involved in Steem and if this is easier to create the simple burnable token I need then this is great.

Awesome. Can't wait to see which apps jump on this - so many have been waiting and maybe this fulfills their needs :-)

I have had a pilot of my own sidechain (more a parasitic chain writing its ledger into a custom steem JSON) SMT running with a discord wallet since january 2017, just I failed to make hype, and raise awareness, but Venezuelan community has tested and benefit from it.

I wish you the best !
With all this backing it will make reality many of us dreams.

wow this is good!

love you this post & reminds me why i joined steem and fall in love with this place!

honored to be a part of this amazing community and CAN NOT wait for steam engine to set the bar. this is gonna be awesome.thank you

This is so awesome! Great news for the Steem blockchain :) We needed this!

Another brilliant technology coming from the geniuses of the steem blockchain.

A year more and we will truly be on the top 10 of the trading market.

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Screenshot_20190209-091634-1.jpg this is gonna be awesome.

Larger spam next time, please! Full page perhaps?

Will steem-engine have a built in token blockexplorer type thing? Where you can you click any token on the list and view it’s issuance and transaction history? I think that would be cool :)

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Awesome. I hope this has some serious implications for Steem monsters such as using the the Steem engine tokens to rent out card decks and things like that.

Pixabay - Knowledge and Team - statistics-3351517_1920.png

@aggroed, sounds like you've got the knowledge and team to make this happen. I'm very interested in smart contracts. Let me know if there is anything I can do.

Sounds promising! I'm holding on to my STEEM!

Loving the "soon" in the announcement. Great work, hoping this is going to put some pressure on Steemit Inc. for their SMT as well.

"We have a full public launch planned in the next few months, which will include a PR campaign to get the word out inside and beyond the Steem community."

That's what makes me most excited... a PR campaign is something I never see on Steem. So that's cool. Wishing most success on that!

@aggroed, @harpagon, @yabapmatt... I love the project and love your teamwork. Teamwork makes the dream work. The only problem that you will have is the basic comprehension of the newer people to crypto understanding what a token is. 90% of the people out here don't understand what a smart contract is, or that a token equals the value of something else, mirroring shares to a company in the fiat world.

I suppose you guys already know this. You're going to get 100k tokens made, equaling nothing. You guys should do a Crypto University and they should get a certificate or something before they are allowed to create any token...otherwise, we'll have 1000 grifters manipulating the Howard Test (just an example) & conning the public with worthless tokens again because 90% of the people new to crypto, just don't really know what the term "token" really means.

You guys are already the rockstars of the Steemit world, I guess I'm asking you to also become the professors, otherwise too, the Steemit blockchain will implode with greed and ignorance.

You guys keep me motivated with your innovations, and for that, your time is appreciated more than you will ever know. Thanks guys, yall rockstars.

I have a Question on ENG Token:

Looks like only ENG token can be purchased. I saw the issuer is @null.

Is STEEM burned for every ENG bought?

You have this a little backwards. When tokens are created we sent the ENG to @null. Essentially ENG is burned every time you make a token. The steem goes to the @steemsc account.

Thank you for the clarification. 😉

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Awesome project. I made a token for fun to support you're great work and I see it being a great thing for communities.

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If making tokens for fun supports their work, shouldn't everybody make a few tokens?

Giving them 100 steem to create their own token isn't a bad idea. The communities will decide if they are worth anything. It's a free market.

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Gotta love free markets.


Awesome, very excited to try it out, thanks for the hard work!

Cant wait untill we "Start tokenizing the internet Today through the Steem Engine platform" There has been so many stalls, over a year late for the all ready long awaited SMTs , im so glad to see this happening! *Keep up the great work team awesome! @yabapmatt , @aggroed , @harpagon ! Things are finally looking up for the platform!
I currently have 3 different tokens im saving up: Appics , Steemhunt , Partiko.
upped and resteemed

@aggroed ok, THAT's what you've been working on. As it happens, I'm in the 99th percentile of Europeans knowing about crypto legal (though not a lawyer, god bless). So happy to help w/ roadmap step 4 on our side of the pond.

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Finally, RedfishSMT will be made here, for Redfish rank on Steemit!2.PNG

Good job!!

Posted using Steeve, an AI-powered Steem interface

I love this market! I release my own token (CABAL / Cabal Coin). Tradable for items on my store at, backed by Paypal buybacks. Here is my white papers.

Do you think there are advantages that SMTs will have vs Steem Engine Tokens, or is this a play to overshadow/dissuade people from considering SMTs? I'm noting the wording like "mythical SMTs", which is a wording that points toward a competitive attitude toward SMTs.

We're making money out of thin air!!

I love it, but the name may confuse some people because I think there are other services/communities called SteemEngine on the blockchain already....

Here’s one:

and here’s another:

But regardless this is awesome. Amazing progress being made!

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Edit: looks like you’re right! IMO whatever app gets traction first wins!

haha I think that is a whole different steemengine project all together! so looks like there is more..... I personally like the ring of steemmachine :)

or steemshovel...since they're shoveling steem. LOL

I like steemmachine as well!👍👍👍❤

Haha you’re right! I was wrong!

They should get something like: or or many more imm though, don't know if it looks good or not lol

I like the name ;) lol

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Well let's be honest... it was bound to be a popular name. Lol

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I love this enthusiasm to push projects forward. My Token is SERUM. Thank You!

This is very interesting and exciting, @aggroed. I cannot claim to really understand the technicalities but I do get the gist. I am calling @jaynie and @zord189 from the #PowerHouseCreatives (formerly known as @steemitbloggers to have a look at the concept of a customised token on the Steem blockchain could be of interest to that group).

Similarly, @algo.coder and @onepercentbetter who are behind the @share2steem app will find this of interest.

Would love to give it a try for sure.

Why no steemconnect?


This is way better! @yabapmatt made it!

Better is good but using an already trusted service is also good. Down the line the project may want to integrate steemconnect as well. Maybe Keychain will be so bad ass no one will care, idk, I still gotta try it out.

Keychain is bad ass. It is metamask/scatter, but for Steem.

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Awesome job guys! And I love that you're not making it Steem Engine vs. SMTs, but rather Steem Engine and SMTs. Cooperation is always better! But a little pressure doesn't hurt either, lol!

Posted using Steeve, an AI-powered Steem interface

Nice initiative.....I think similar project is currently existing on whaleshares platform..know as whaletoken. Hope this will drive the price of steem upward....! Best regard @aggroed

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Impressive stuff! I would like to hear and see more from you so keep sharing!talktowendys!

This is great work! wait for steem engine to set the bar. this is gonna be awesome.

You guys are awesome, this is a great development for the future success of community!

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One question I'm compelled to ask though, is if its possible to eventually decentralize the sidechain?

Posted using Partiko Android

Define decentralization?
A DAO can be made to give governance based decentralization

Awesome project gets me excited about whats to come for the Steem ecosystem.

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Felicitaciones de verdad muy interesante el lanzamiento de esta plataforma Steem Engine, esperemos sea exitoso y su desarrollo sea de mucha utilidad a la comunidad.

Que bien soy nuevo y estoy aprendiendo me gusta tu publicación gracias por la ayudas que nos das muchas bendiciones para ti

This project looks promising and I will be checking it out. User friendly token creation on Steem could really bring people in (or back in) to the community. Smart contracts are also a plus. Keep it up. Looks A+

Well this is exciting! I can’t wait to get home from work and play around with this

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You just got some BEER token.....

Wooooooohoooo I hope the local brewery will accept it soon

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This is amazing work superb

WOOHOO! Now @steemfoodtours has it's own token, the STEEM Food Token (FOOD)!

Want to win some FOOD?

Post a restaurant review to the weekly contest (link below) and earn some FOOD, STEEM and more. This week we are giving away a Gold Foil Mushroom Seer Card. Who will be the first to eat some FOOD?
... white paper to come...

(this is brilliant! i love you guys)

Cool, love to have some FOOD - Would be perfect to the BEER

Two cool token names, let's see what happen out of it.

Hmmm - as much as I admire your work on Steemmmonsters I am still critical on that one - crypto? SMT? Sidechain? - hmmm, not really! Will have to investigate a bit more into that.

Good opportunity for all of us. Thanks for this post.

So.. this token can be use to purchase steemmonsters booster packs too?

Keep up the great work, guys. This is amazing. Resteeming and retweeting and hoping everyone else does the same!

Freakin love you man, always workin hard as hell. Giving me big revivals of faith for Steemit/Steem

I have heard rumblings of this for a few weeks now. Great job in taking the initiative to not rely on Steemit INC. I'm pretty impressed but have a few questions.

It seems like for now the main thing that can be done is create a token but is there the ability to have a game that utilizes the contract code but accepts STEEM instead of one of these tokens?

Like STEEM users can interact with the contract code to play a game against other Steemians to earn more STEEM?

That would be up to the individual apps/games to figure out.

Ok, so if I'm thinking about this properly instead of the contract code being uploaded to a particular STEEM account it more or less is uploaded to the sidechain. Then for instance if a game developer makes it to where a Steemian sends funds to an account they created for the game referencing the "sidechain ID" Steem Engine will pick that up and execute the contract code? With in that contract code if the person wins the game they could be issued the earnings to their STEEM account.

Over on the side chain is the contract code uploaded to an account that is sort of linked to a STEEM account of the same name? like if a person created a STEEM account named "steemwhatever" is there an account on the sidechain with the same name that holds the contract code?

When I look it seems like the code is ran in a javascript virtual machine and is stored in a LokiJS. If someone runs a node for the Sidechain is their any reward for doing so? Also is the sidechain decentralized or only partially so in the fact that the information is replicated to other nodes and if a node can't be contacted it will attempt to contact another node in the list?


Someone needs to blast cointelegraph and coindesk about this

Great update. Good news for steem

I wish to create a game in steem like steem monsters and this sounds amazing!

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Very exciting to see dedicated members of the community demonstrating the potential of this great protocol we engage with daily!

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muy buen post

I made a coin, can you give me a heads up as to what is required to make my own wallet to store them off the steem engine site please?

The tokens aren't really stored on the steem engine site, just like your STEEM is not stored on They are stored in your Steem account. If you want to build your own wallet it would just be a Steem wallet that can also broadcast the custom_json transactions necessary for steem engine tokens. If you're interested in doing something like that you can contact us on Discord.

Thank you for the reply, I do not do disco anymore though. But thanks all the same.

This is really important for steem, I think time will show the significance of this for sure.

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I found this through browsing steem apps. I am excited for what projects can be created. Could especially be useful for maintaining usd pegs. I am looking forward to what could be created. I wish I could use these for good use now, but I have to wait until summer.

This post has received a 92.55 % upvote from @boomerang.

Stoked! This is fantabulous, without reservation.


This is awesome! I will look into it some more 😀

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I wish you guys the best.... good luck! :)

I think good news for steem lovers...

With smart contracts will we now be able to have a smart contract that allows us the ability to delegate Steem Monsters? For example, if someone pays a "certain price" and gets a Steem Monster "gifted" for a set number of days.. Would that be possible with this platform?

I approve this project and the use of the name ;)

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I just joined Steemit and after reading about all the scams to steal your private key, I appreciate the value of this post. On day #1 I was looking at that list of “permission keys” and wondering what to do. Now I have a much better idea. Thanks, if this is also on Steemit I will be sure to upvote it.

Really cool initiative guys! Would like to talk with you about launching an Open Mic coin for people who play music on OM.

Sure. I'm always in Discord. PALnet=

permission, bro, I copy your article in Indonesian, so that it can be understood by beginners in INDONESIA ...

!gif Hooray
The best news for this year. After the appearance of the Steem-Engine, questions arise whether STEEM - SMT is needed?

Does this affect the content-creators of the Steem blockchain?
If so, how?

Steem Engine, on the other hand, will have all transactions posted to the Steem blockchain, so that they will all be available on a public, immutable ledger with deterministic, consensus-based transaction ordering and finality, however the validation of the transactions will be done by a separate piece of software (the Steem Smart Contracts software created by @harpagon).

I know that there are many others like me who sense good things are happening, but do not understand, as all articles seem to be written for those already in the know.

To give an example: I was given tokens created at SteemEngine. I got myself a Steemchain Wallet and transferred the tokens into it.

But, now?

What can I do with the tokens? Can I transfer some of them to my Steem wallet? In others words, how do I use them?

I am told I am holding something of value, but until I can access the value, it does not exist for me.

Can anyone help with some simplified advice?

Love the great work you and @yabapmatt are doing for Steem! Thank you! A proper SMT integration cannot come soon enough to Steem.

Interesting that decentralized software developers and entrepreneurs have to pick up soooooooo much work due to Steemit Inc. slacking off...

Damn, the innovation continues. @ned seriously needs to just hire you guys to work in a more official capacity with Steemit. Because, you are all absolutely smashing it out of the park. What you've built here in my limited testing is impressive.

This sounds great! I am pretty sad that SMT's aren't happening in March. I haven't seen any official news saying they wont be happening, but I don't see much advertising saying that they are...

Can't wait to see this project grow for sure! Just making the Steem blockchain stronger and stronger! It by far as the most use cases for most average joes! Can't wait to see where it goes.

Hey!!! Honored to be a part of this amazing community and CAN’T wait for steem engine to set the bar. this is gonna be awesome.

i suspected that i am stupid for this stuff, but now reading this i know i am 😁

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I have been waitint for this!! Cant wait to try it. are you good with direct messages? I have a project I'm working on (web/JavaScript) that I think would be awesome if partiko implemented a version of... basically web profiles with more information

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You can direct message me in Partiko!

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Hi! I came here to say "I love you Partiko" purple_heart This dapp makes everything easier and more fun. It runs perfect on my device. Thanks to the creators, developers and all the team behind it. purple_heart fhr

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Two of my favortie Steemians!!!! doing it right!

I just discovered , or just had enough time to study this and start claiming tokens, discovered Pal token and SCT token and their communities! This is very exciting!
Thank you 🙏🏻



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