RE: Steem as a Smart Contract Platform

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RE: Steem as a Smart Contract Platform

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remlaps (76)in Witness Activities • 4 years ago

I have long wondered why this concept didn't get more traction. Seems like a no-brainer to me, fast & free transactions with no need for a specialized language.

Similarly, here's a related article from around the same time How Anyone can Build Custom Apps on Steem right Now!

It is fully possible to deploy an Ethereum Virtual Machine as a subchain on Steem. This Subchain could leverage the same algorithm Steem uses to ration bandwidth in order to ration computation.

Perhaps more interesting is the fact that multiple types and instances of virtual machines can be run on the Steem network at the same time.

Good luck with your implementation. I look forward to seeing it come to life.

4 years ago in Witness Activities by remlaps (76)

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moecki (73) 4 years ago

It is all the more incomprehensible that these possibilities have not yet been implemented.
We have seen the beginnings of this with the Steem Punks (with costum-json-ops), or probably with the former Steem Monsters (before my time), but you can't really call it subchain.

$0.10

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remlaps (76) 4 years ago

Steem Monsters also used custom_json. Reportedly, Steem-engine is/was a side chain, but I never learned much about how that was implemented.

Steem Engine uses the Steem Smart Contracts software created by @harpagon. The software scans all blocks added to the Steem blockchain for transfers, custom_json, or even comment operations that contain a certain sidechain ID. It then executes the smart contract function specified in the operation data and packages it into a block which is added to the sidechain. It also maintains the current state of the sidechain and all smart contracts running on it which can be queried using a familiar RPC API.

Also, there was pocket - and of course SMTs were supposedly ready to launch right before the Tron buyout and the subsequent controversy.

So much untapped potential, if someone could just harness the right mix of funding and skills. Hopefully, @marcosdk's initiative gets things moving in the right direction again.