I think I figured out how to run a blockchain on top of #Steem. I will be launching my own token in the coming weeks! The protocol will be open-sourced and allow other "virtual chains" to trade with one another. .
@fulltimegeek in the interest of not reinventing the wheel, @harpagon has built a full-fledged smart contract enabled side chain system on top of the Steem blockchain. We are planning to use it in the near future for some things related to Steem Monsters and I've been working with him to get it to a point where anyone can easily create tokens and even have an internal market to trade them against STEEM.
I'm not doing anything with smart contracts so I doubt I'm reinventing what he's got. What I have is just a protocol that will allow anyone to:
create their own token/blockchain,
trade tokens between different vaporchains,
compete for block production on any vaporchain
This will all make sense once I have a "testnet" up and running and some example transactions to reference back to. Keep checking #Vaporchain for updates.
We were talking yesterday about how we could use SMTs to create an pristine microeconomy inside of Steem to address the present corrupt system. Perhaps, what you have cooking will help us get there sooner.
It would be nice to have an alternative economy that is unaffected by things like bid bots and more people will thus be eager to contribute and build out this more ideal vision.
A vision of a network in which the bulk of the benefits aren't just funnelled to a few accounts but rather the many as long as they are willing to work for it.
My main concern is node availability in the event that Steem continues to lose value and / or the solutions to reduce node resource utilization doesn't pan out resulting in inevitable node shutdowns as they become more expensive to operate.
I would hate for people to work to build a utopian bubble society (coining that term now. Lol) and to have the body of water around it (analogous with the Steem network) to dry up.
Personally, I don't think this will happen but it's good to consider contingencies. For example, would vaporchain be able to exist independently of Steem if necessary?
Without Steem Vaporchains can't exist. It's developed from the ground up specifically for a Steem-like blockchain.
I would hate for people to work to build a utopian bubble society
If these mircoeconomies do catch on, it should strengthen Steem over time. This is due to how Vaporchains work -- requiring you to burn liquid STEEM in order to create new chains or mine blocks.
In the medium term it will be a big boost for Steem. At the moment the markets are completely detached from what is happening on the ground so I wouldn’t expect an immediate boost.
Yes, if not medium term - definitely long-term. The way I designed this will cause STEEM to be more deflationary than it already is. The increase of scarcity should lead to a higher price in theory.
Soooo SMTs go bye bye or is this just a stop gap solution? Or could this be a long term solution so we never need SMT and steemit inc can scrap it from the roadmap?
Vaporchains will keep running if SMTs are implemented or not. They are on totally separate layers. If this new protocol catches on, I don't think we'll need SMTs. But, both can co-exist without a problem.
Thanks for the explanation very cool that they can co-exist gives developers ever more freedom! Can only be good for the ecosystem as long as it cannot be compromised or open any security flaws
This place is just full of surprises. People like you are why I hodl. The only blockchain where people announce new projects on the blockchain, on the blockchain.
This is not a play on words like "vaporware" ... I know that term already exists. The reason why I chose Vaporchain is because I see this as being one level above steam/steem.
@fulltimegeek in the interest of not reinventing the wheel, @harpagon has built a full-fledged smart contract enabled side chain system on top of the Steem blockchain. We are planning to use it in the near future for some things related to Steem Monsters and I've been working with him to get it to a point where anyone can easily create tokens and even have an internal market to trade them against STEEM.
I'm not doing anything with smart contracts so I doubt I'm reinventing what he's got. What I have is just a protocol that will allow anyone to:
This will all make sense once I have a "testnet" up and running and some example transactions to reference back to. Keep checking #Vaporchain for updates.
Ok, it just sounds very similar to what he has done aside from the smart contracts piece. Either way, the more the merrier!
We were talking yesterday about how we could use SMTs to create an pristine microeconomy inside of Steem to address the present corrupt system. Perhaps, what you have cooking will help us get there sooner.
It would be nice to have an alternative economy that is unaffected by things like bid bots and more people will thus be eager to contribute and build out this more ideal vision.
A vision of a network in which the bulk of the benefits aren't just funnelled to a few accounts but rather the many as long as they are willing to work for it.
My main concern is node availability in the event that Steem continues to lose value and / or the solutions to reduce node resource utilization doesn't pan out resulting in inevitable node shutdowns as they become more expensive to operate.
I would hate for people to work to build a utopian bubble society (coining that term now. Lol) and to have the body of water around it (analogous with the Steem network) to dry up.
Personally, I don't think this will happen but it's good to consider contingencies. For example, would vaporchain be able to exist independently of Steem if necessary?
Looking forward to see what you come up with.
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Without Steem Vaporchains can't exist. It's developed from the ground up specifically for a Steem-like blockchain.
If these mircoeconomies do catch on, it should strengthen Steem over time. This is due to how Vaporchains work -- requiring you to burn liquid STEEM in order to create new chains or mine blocks.
If you can pull this off it will be quite a coup! The best innovations come from individuals or small teams in a supportive environment.
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These Vaporchains will most likely boost the price of STEEM. So, this "coup" will be a good thing for everybody :)
In the medium term it will be a big boost for Steem. At the moment the markets are completely detached from what is happening on the ground so I wouldn’t expect an immediate boost.
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Yes, if not medium term - definitely long-term. The way I designed this will cause STEEM to be more deflationary than it already is. The increase of scarcity should lead to a higher price in theory.
THIS will boost the price of steem...
https://steemit.com/blog/@lucylin/here-s-a-thought-some-positive-action-is-needed-on-steemit
Interesting, will be lookin’ forward what you come up with! 😎
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An early Christmas Gift! Thank you FT!!!
Quick! Someone get me to my fainting couch... got a case of the vapors!
Omg I loves it :) :) :) :)
Soooo SMTs go bye bye or is this just a stop gap solution? Or could this be a long term solution so we never need SMT and steemit inc can scrap it from the roadmap?
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Vaporchains will keep running if SMTs are implemented or not. They are on totally separate layers. If this new protocol catches on, I don't think we'll need SMTs. But, both can co-exist without a problem.
Thanks for the explanation very cool that they can co-exist gives developers ever more freedom! Can only be good for the ecosystem as long as it cannot be compromised or open any security flaws
Posted using Partiko iOS
This place is just full of surprises. People like you are why I hodl. The only blockchain where people announce new projects on the blockchain, on the blockchain.
For real? On first sight I thought you were trolling us. But after I read a few comments, I think you are way too serious.
Sounds freaking good
100% serious
This is not a play on words like "vaporware" ... I know that term already exists. The reason why I chose Vaporchain is because I see this as being one level above steam/steem.
Water --> Steem --> Vapor
I 100% thought this was a troll. You might want to reconsider the naming.
Agree. I thought he was trolling too at first until i read the comments.
Even the name makes perfect sense.
The fact that it doesn’t require a hardfork when changes need to be done, is probably they key point.
We all remember that in every hardfork, steem wallets remain closed for a few weeks...
Just saying....
Looking forward for more details
It's actually water ---> vapor ----> steem.
Water being liquid water.
Vapor being very light droplets of water that are in the air.
Steam being water in a gas state when temperature rises too much.
Need water chain immediately.
What happens when condensation sets in is also back to liquid.
What? Vaporchain? WTF is that?
Vaporchains will be blockchains (with their own token) running on top of the Steem blockchain. Sort of like SMTs but without the need of a hardfork.
what do they do?
The same thing that bitcoin does.