SMT Could Be Launched In Less Than 3 Months
As you may already know, one of my favorite pastimes is to peek through GitHub repositories, with a penchant towards Steem-related repositories. This morning gem requires a bit more explanation, but it's a very precious gem, nonetheless.
Let's look at the issue, first:
So, what the issue says is that the SMT testnet, announced a couple of weeks ago, should be short-lived, or it should "die" by itself. The reason for that is we don't want any rogue blocks coming from the testnet and colliding with the real network, once SMT are going live. Not that anyone would want that, but who knows, maybe somebody spins up a machine just for testing and then he forgets about it.
And since we got to talk about this, the colliding of many separate networks tends to become a problem in the small (but active and witty) world of people who are running nodes (witness or content) for the Steem-based protocol. It happened first when Golos was launched, but with the opening of the license, which means everybody can have their own Steem-based network, I personally see a lot of congestions. Or the infamous "Received hello message from peer running a node for different blockchain." log entry that many of my fellow witnesses know about.
Anyway, back to our stuff.
So the testnet will be built in such a way that it will cease to exist after 3000 blocks, or approximately 3 months. Now, the interesting part comes from the second comment:
I don't think we would never need that much...
Now, time to do some math. The issue was posted 21 days ago (the reason I'm talking about that is that it was actually included in the planning less than a day ago). Suppose the testnet is launched in a couple of weeks. Well, adding this and subtracting that, I can see we get, more or less, 3 months.
So by the half of February we should see very, very interesting things happening around here.
Oh, and by the way, don't take my word for it. I'm just speculating, based on the development status (which, fortunately for us, is open and transparent). This is not an official announcement from Steemit INC. Ok?
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
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@dragosroua I know that those of us here in STEEMIT will benefit Greatly. I am Patient.
I have to document more about this SMT. I just read some bits here and there. I have to pick up the knowledge fast it seems
you need to have CSI before your username ;)
Neah, that will just blow my cover out. Shhh :)
I'm pretty anxious to see that!
3000 blocks is only a couple of hours ;P
Didn't it say 3,000,000?
It depends on the block_generation setting. It may not be 3 secs...
:)
Will SMTs sync up with steem's block times, or will that be customisable?
(So much I don't understand)(yet)
SMTs are UIA (User Issued Assets) so they are issued only once, and the generation mechanism will be locked in at issuance. After the ICO, new tokens can be issued only by inflation. And, AFAIK, the inflation will be in sync with STEEM generation blocks. If an SMT must generate 1 token per minute, then this will be calculated based on STEEM generation (every 20th STEEM block will issue also an SMT).
At least that's what I understand from the White Paper.
I'm holding you to this and if it doesn't happen I'm going to "burn it down" Laughs maniacally
JK
That would be interesting to see lots going to happen soon : )
I am eagerly waiting for smt launch....
Hope that it will launch in feb or earlier. I have few ideas that I will launch on steem blockchain..