Hobo Report: Smart Contracts on Steem Engine
Smart Contracts on Steem: Engine
So, how long have you been waiting for SMTs? Many have been hoping SMTs would come out soon, but despite the anticipation of a February SMT release, the idea remains a concept and that's all. For some people, their entire business model depends on tokens supported on Steem. If you're one of those businesses, you'll love to hear about this new project!
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Steem is full of creative minds, but not all of these ingenious people have programming skills or the bankroll to pay a developer to make their ideas a reality. Thanks to the Steem Engine project its now possible to create a custom token. In the future more smart contract options will also be available, hopefully, ones like NFTs and other exciting goodies!
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How to create a token on Steem Engine
The Steem Engine is a sidechain to Steem, but it has its own native token ENG, which is used to create tokens. Currently, it costs 100 STEEM to create your own token and there are future opportunities to mine the coin by producing blocks for the chain.
Want to learn more? Check out the site here: Steem Engine
Want more insights on cryptocurrencies? Check out articles at Hobo.Media
Here's a list of other Steemians to check out!
@stuart24 @dana-edwards @joeparys @thew0lf0fcrypt0 @jiujitsu @silverstackeruk @serkagan @sames @waterwind @newcastle @collinz @zydane @ashely056 @difelice5000 @newtechblog @detlef-s @laureneliza @cityofstars @cryptopie @artopium @fredkese @handofzara @investmentreport @kawaiicrush @soulkiing @smdragon @steemtek @endykim @ilanisnapshots @amr008 @aple @riya123 @bohramradul @maxpay @kafnob @oadissin @marvyinnovation @abrish @hardaeborla @blewitt @jerjanjo @pressfortruth @don-thomas @arsl14 @sanjoea @freedomanytime @clayrawlings @zetacoin @goldheart @artoftherhyme @kemc @orgoniteog @cathynsons @shashiprabha @katebobkova @tramelibre @steemnurse @kawaiicrush @prettynicevideo @vishalmajumdar @thehippierays @spectrumecons @wolffeys @myquotes @depu @happydolphin @apolymask
@niallon11 @thefishman1987 @ezunjoshy @designieplay @broken.akay @inzouikroft @simmani @introvert-dime @hobo01 @steemmonsterking @talent-venezuela @steemit-life @kryptogoddess75 @islandliving @los @stanestyle @satorid @darkline @angeltirado @satorid
Great!
you may interested @blind-spot
A sidechain as in ETH or EOS?
Hey novacadian, I'm not sure I understand your question. Would you be able to rephrase your question?
ETH and EOS are not sidechains, like Steem they are individual blockchains.
My apologies for the confusion. The term "side chain" was one familiar to me from chemistry. Don't get me started about the term "CGI" being usurped by the Computer-Generated Imagery community from the Common Gateway Interface crowd. 😎
After some research my understanding, now, is that you are referring to the technique outlined in the 2014 paper titled, "Enabling Blockchain Innovation With Pegged SideChain", from several authors from block stream. Readers needing more background, like myself, may find the following article helpful.
https://cryptodetail.com/what-sidechain
If this puts me on the right track then my question would be, will all witness nodes run this side chain and if not how will they be incentivized to do so so as to provide greater security? If you have a paper that answers such questions then a link would suffice.
Thanks in advance.
You got a 29.17% upvote from @brupvoter courtesy of @hobo.media!
This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.
Awesome, thanks! Quickly becoming one of my favorite people on Steem. :)
Not sure why you mentioned me, but thanks for the mention! :)
I stumbled upon a recent post of yours:
https://steemit.com/contest/@apolymask/my-judges-guidelines-for-the-ifc
Thought it was a good post and upvoted it. Apparently forgot to follow you though, so followed. :)
I see. I noticed you had done similar with one of the players in our contest but didn't put him on your list of people you tagged so I was a lil unsure, but thanks for clarifying and for the follow! I gave you a follow back. Cheers!
I tag people when I become aware of them for something, but I also upvote people randomly when my vote is around 100%, mostly to people not getting much upvotes. But I also have different tagging groups, so I'll upvote people in the introduction area and tag them in some points to help integrate them on Steem.
Ah. I see. Thanks for the explanation! It makes more sense now.
It is very good news for steem community. Utility app with token on steem block chain are the best way to large adoption and increase price of steem.
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definitely, I think it is awesome.
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woosh
At this stage is a useless creation token factory!
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Thanks so much for commenting! I appreciate hearing your opinions.
It does need more development, but I see great potential in this project, especially if it leads to easy creation of NFT products.
looking forward
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Definitely!
This is cool to see
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