+5%!
Why not a BitAsset?
I think, we should clearify the terms a little. Technically, you are going to create a market-pegged asset.
These are usually also called smartcoins. Some even call them bitassets which is totally fine if you asked me.
The other distinction is between
- committee-owned assets (let's call them bitassets) and
- user-owned market-pegged assets, also denoted as privatized market-pegged assets.
Why not a Privatized Smartcoin?
Because it's not intended for specific private revenue. We want it to be decentralized, a tool to build bridges. A common good.
A Privatized Smartcoin can be decentralized as well if it has a multisignature issuer. That would be the same thing as
with committee-owned smartcoins. The committee-account is nothing more than a multsig account.
What is more important is that the price feeds are distributed among many people to not give a single individuum the
power over settlement price.
We found just good reasons to create this Worker proposal:
Great stuff! Still, I would have loved to see a multisig account own the worker, but it's too late for that now.
Anyway, you have my support!
We agree 100%. Because of your advise, elmato (who created the worker) has given committee-member account owner and active permissions over his own account, with a threshold of 2 and weights set to 1 on both account, so now it is a 2 of 2 multisig acoung between el mato and committee-account, until the asset is created. Many thanks.
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