Atomic Swaps &amp; The Future of STEEM

cryptocurator (65) · 5 years ago

Dan - well timed confidence enhancing video. I’m keeping faith and powering up a bit more on SPUD XI tomorrow. I like the idea of doing research, having vision, not expending energy on the mini-crisis, having the confidence in others (witnesses) with domain knowledge to do their bit, and thinking long term. It’s going to be a real journey. Good to hear those thoughts about video content producers being able to port to other UIs in the future once video stored in the same way as text. Looking forward to an interesting week ahead! Cheers

Posted using Partiko iOS

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mindtrap (74) · 5 years ago

Not only he gave credits about MIRA, but also made it clear that they want to implement MIRA as well, so that they can have a smooth migration of eosio to rocksbd.

And credits from this man who is da brain...is a big deal.

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tarazkp (80) · 5 years ago

The core community has been built over the last couple years and while it will get shaken up a bit from time to time through large events, I think that there is enough mass to keep moving forward, no matter what.

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3 votes

raj808 (71) · 5 years ago (edited)

Always great to hear your thought and insights on these types subjects Dan.

Although I do have a decent level of knowledge about the technicalities of blockchain - after 2 and half years on steem my education is reasonably comprehensive 😂 - you really have a knack for breaking down complex concepts to make them easier to understand. Especially in these videos you produce.

Cheers for sharing these hypertheticalals. Atomic swaps on steem is very interesting. I think there's a good chance it's the way things might go. As to the macro on steem... well I'd never have started a hive community if I didn't think steem could make it as one of the two or three top crypto projects over the next three years.

I'm currently increasing my steem stack through careful trading because I don't have the money for buying tones of steem. It's going well so far, about a thousand up on what I put in 🙂

The only problem I see is that if atomic swaps are the new direction, Tron are gonna want to push hive communities to fund their incentive models with Tron smart contract tokens rather than SMT's. Maybe, in not sure, but they might try to ditch SMT's given that they now own steemit.inc.

For me this is a big issue! As I have a very good plan for adding value to my community while attracting outside interest from mainstream publishing... but it all rests on me being able to leverage the value of an SMT attached to The Ink Well community. Also, SMT's attached to communities will inflate the price of steem if they work out, whereas communities using a Tron token will only bring value to Tron.

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theycallmedan (75) · 5 years ago

I actually believe Tron will leverage SMTs, as you atomic swaps TRX users could interact with SMTs much easier. Imagine an SMT for Steemit.com - He could airdrop to both TRX and STEEM hodlers and with his hype machine could make a cool 50mil from a token sale.
Steem pretty much has the social Web 3 on lock. TRX trying to make their own SMTs would be like bitshares trying to recreate STEEM on its chain. It does not make much sense, and would be much better for everyone involved, esp TRON/STEEM users, if they simply went with the best tech available.
There will not be one chain that rules them all, despite what BSV people like to say. There will be chains that become so great at niche values, that they become indispensable. I am betting big on STEEM carving it's on niche for the future Web 3 tech stack.

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raj808 (71) · 5 years ago (edited)

I do hope Tron leverage SMT's but still think they probably see them as a type of competition for their own networks erc20 style tokens, despite SMT's having far greater capabilities with votable POB.

TRX trying to make their own SMTs would be like bitshares trying to recreate STEEM on its chain. It does not make much sense, and would be much better for everyone involved, esp TRON/STEEM users, if they simply went with the best tech available.

I agree, but this all depends on Tron's intentions and them recognising that Steem is the best technology for proof of brain social web 3.0

The other scenario is that they're developing their own version of something similar to steem quietly in secret, while saying all the right things to the witnesses to try and get the recent soft fork reversed. I'm not saying this is what is happening, it's just one of a few worst case scenarios.

I've just read their medium article about Atomic swaps and do think that's a great thing! Interoperability of blockchains is the future, and those that already have it built in will have a headstart on the competition.

Generally I'm quite optimistic about this latest news. I guess we'll know for sure next week after the town hall meeting. Maybe I'll see you there 🙂

I'm also betting big on steem with my time, as money isn't a commodity I have much of. In the future I want to make The Ink Well more than just a community, I have plans how to make it a successful business that can improve my situation while adding value to everyone in the community, and the steem blockchain as a whole. All of these plans rest on building the value of The Ink Well SMT & community, then leveraging it to bring mainstream publishing houses into the community. In my vision we will act like an incubator where they can source new talent without middlemen agents, and also gain free targeted advertising to an audience who are their exact demographic.

I want to make a career out of both my own fiction, and also the community I've built to help others realize their creative writing goals and dreams.

Steem has so much potential that although I'm optimistic, I do not want to see this blockchain marginalized by Tron if they have ideas about trying to limit us with their stake as potential competition.

Still, I'll keep on growing my community and building on the steem blockchain. And I showed my commitment yesterday by powering up nearly 700 steem for SPUD, steem power up day. I'm also stacking steem by trading and am about 2000 up on my original pot. Hopefully be powering up the final tally next month for April spud.
Everything in life that brings big things is a gamble to some extent, I hope this one pays off for us all.

All the best Dan.

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nonameslefttouse (74) · 5 years ago

I've seen it all here. Walking on eggshells but using that dust to pave roads seems to be the way of this world. I don't mind.

I take my breaks, because I enjoy working my ass off to the point of burnout. I'll leave usually when the dust settles after a big event. That way I know the place will still be standing when I decide I'm ready to come back. I came back, and much like every time I return, the new set of challenges begins. Never a dull moment.

Today's politics will be tomorrow's old news. We'll find a way, like usual. This time around I thought, fuck it. I don't need to take sides. I hear both sides loud and clear. Giving it my undivided attention.

They say the community is our most valuable asset. People fight sometimes, that's normal. I have friends here on both sides. Not going to let these politics interfere with what I've spent years building.

I don't mind leaving some things up to the experts. Dude, I'm not even going to pretend I know what a fucking Atomic Swap is, but if I was a wrestler, that's what I'd name my finisher.

The one thing everyone has in common right now is they all want to see this place thrive. I don't see anyone with a brain cheering for this place to fail, no matter what side they're on, and that's a good thing. That's what it boils down to. When the dust settles, again, because it will, everyone comes out on top. For years I've known it's too big to fail. So whatever. Witnesses witness. Investors invest. Developers develop. I get it. I don't have to agree or disagree. Not this time. If it was my role to tell people what to do today I'd simply say, "Don't fuck this up for me."

I don't often get a chance to come here and shoot the shit. It's good to see you again though. Keep doing what you do. Some of these folks could really use that motivational stuff you can provide. Others probably think it's cheese but hey, that's the life we all signed up for.

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theycallmedan (75) · 5 years ago

lmao, I def wouldn't want to get atomic swapped by hulk hogan!

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dalz (68) · 5 years ago

Tron has oppen up the gates!

Hope this will be the case. There is much more value to be added with ccoperation with other blockchains and healty competition at the same time, than just tribalism. Hope eos come onboard with some voluntary cooperation soon :)

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bashadow (65) · 5 years ago

There are a lot of people out here for more than just the money, I am one of them. I was told basically if you don't like the witnesses, or the choices go somewhere else, I really don't think they understand, that concerns over a statement, direction taken, or dissatisfaction of a choice made, is not an accusation of failure on the part of anyone; people make their feelings known because they like the product and are concerned about it. If they want an audience of yes men and women only it is they that should leave and rejoin the likes of facebook.

Not everyone is going to agree with the choices made, they may support the choices, as many witness have supported the Soft Fork, that does not mean they like it, think it is right, or was even the right thing to do. They expressed their feeling and thoughts on it, and still continue to support the block chain. They did not ask nor tell people to like it or lump it, they did not try to drive people away. People need to understand that dissatisfaction on choices happen, that dissatisfaction is relayed in the hopes that things will be looked at and maybe different choices made.

The people that make the hard choices know that there is going to be back lash. They do not lash out back and tell people to like it or leave it. They are the real leaders, not the ones that lash back at the people that share a concern about the choice they made.

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theycallmedan (75) · 5 years ago

Everything STEEM does has controversy, most recently before the SF being the EIP, a lot of people raged quit from that but a lot of new people also joined since.

I think some people tend to try and focus on too much at once. I am a buidler, an investor and several other things, if I have to obsess over chain security, I lose an edge in everything else. Of course, I talk to witnesses, ask questions/give advice and do everything I can to help. But at the end of the day, you have to trust they are going to do their jobs the best of their ability.

If they failed to react and let's say Tron did pull a hostile takeover, everyone will be blaming the witnesses for not securing the chain. It really can be a tough, thankless job at times, does not make it any less important.

I invite controversy, different opinions and people that see things differently. Strength is in disagreement yet finding a common path forward. Weakness is fracturing and giving up when you don't get your way. It's easy to stay the course when one agrees with everything and there's sunshine and rainbows, but moments like we just had really shine people's true colors.

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bashadow (65) · 5 years ago

Reactionary is okay, it is needed at times. Rage quit never works, telling someone to find somewhere else to go when they are trying to understand and to help, causes more strife. Leaders don't do that, those looking for rainbows do.

It is a hard and thankless job most of the time being any sort of leader, you are always in the cross hairs. Some witnesses and others have shown their colors. Things may change, but then again, most people have short term memory loss and always look back on what the positive was that came out of the situation.

!ENGAGE 25

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theycallmedan (75) · 5 years ago

Someone telling you if you don't like it leave is their opinion and way they wish to express themselves. That is in no way the attitude of the majority of the community. Don't let a few sour grapes ruin the whole cluster.

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bashadow (65) · 5 years ago

Absolutely not going to. This is the third fork, and third time of being told if you don't like it leave, that/those person/people just do not understand a concern is not a rejection of the entire system.

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misterengagement (55) · 5 years ago

@theycallmedan you have received 25 ENGAGE from @bashadow!
View and trade the tokens on Steem Engine.

^{This tip bot is powered by witness untersatz!}

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asimpleman (45) · 5 years ago

being the EIP, a lot of people raged quit from that but a lot of new people also joined since.

I have a reasonably long list of new accounts funded by Steemit that have only ever been used to flag people. All of the accounts were found by following the activities of 1 account. So i think it reasonably safe to say that that individual initiated those accounts. I dont believe that we have a lot of new users we only have new accounts. The EIP is still in force, people being attacked for no reason, even accounts like the @steemengineteam

This place has a lot of corruption to deal with before it even gets close to mass adoption.
But I am still here because I can see what it could become. A world changer especially for the poorest people

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chekohler (70) · 5 years ago

Yeah I agree, steem has been forgotten and battered and rightly so in many cases in my opinion I also think people haven’t been more critical of other chains because they don’t have an active community that’s so involved!

We’ve got eyes on it daily and opinions so it’s going to get more flack and that’s fine with me, being called out on your bullshit keeps you honest which I can’t say the same for a lot of Alts these days

Atomic swaps are going to be pretty interesting if done it’s going to give a lot more leverage and Get the best out of both communities

I think so far this is the most promising Web 3.0 ecosystem, it does take time to get into it and understand it but soon you won’t need to worry what’s under the hood like we do now! A lot of it will be plug and play for developers and dAPp owners

That’s when the exciting bit comes! Building the roads is boring once the cities are connected is when the magic happens

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3 votes

ocupation (68) · 5 years ago

Yo Dan, are you farmiliar with steem ability to run Hashed Timelock Contracts?
And if not, is hard fork going to be requered in order to enable atomic swaps?
I tried searching the web but couldn't find an answer.

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theycallmedan (75) · 5 years ago

I am vaguely familiar with hashed timelocks but not how they would work on Steem.

Yes, I believe atomic swaps would require a hardfork, but don't quote me on that.

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ocupation (68) · 5 years ago

Thanks for a resposne, have one more question though. Are you aware of how the price is calculated when making transactions via wallets? I guess there is some program that calculates medium price at multiple exchanges? no?

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sharpshot (65) · 5 years ago

At first, Dan Larimer criticized Steem. Good to see he changed his mind, I respect him a lot more now. Would be great if all the DPOS chains worked together.

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zaibkang (59) · 5 years ago

Atomic swap is best possible solution

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voclab (65) · 5 years ago

I talk about STEEM & TRON atomic swaps and what that could potentially look like.

I am optimistic that STEEM/TRON collaboration would be be for the best. Already, it has been reflected on the improvement on the interface where one can see red notification notifying you of new messages as well as the outline of your profile including the communities.

If these could be attained in less than a month of the collaboration, then just like you have said your thought about

I step back and give my macro thoughts on the future of STEEM.

Me I look lean back and watch with mega macro expectations from it.
Thanks for the share, it's a good encouragement to people who still contemplating about continuing or quitting STEEM blogchain.

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oppongk (75) · 5 years ago

Well said Dan!, the Steem & Tron Cross-chain Atomic Swaps feel to be enormous & important maybe with the current projections underway. The plans of Justin to merge Steem&Tron through this relationship. But I see if all things being equal & works best for Steem, we would experience positive changes with lots of improvement. Haven said this, Steem is on the move, while Steem Back Dollar(sbd) is slowly supporting it, now, it is even catching up with the Steem power. Maybe in the mid-term we would see some appreciable changes as this my thoughts. Thanks for this video shared?

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adalger (65) · 5 years ago

That video was soo motivating ! .. I was recently thinking a lot about Steem and its future and nearly all information I get about the future of Steem are negative ones. I have to admit that I am still very new to the whole idea of social media and cryptocurrencies and would consider myself as a bloody noob, I not even have facebook or whatsapp or whatever .. But then I decided to powered up my account a while ago and gave my best to implement a nice nature community here and it actually is going really nice now .. I personally really love it here and have huge faith into the blockchain but all these negative comments about betrayal, breakdowns, destroying forks, and so on, that I do not understand fully, are really demotivating .. Nevertheless I pushed forward as I like Steem for what it represents and fell in love with its people .. it was really so great to listen to your video .. thank you very much for it ^^

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yousafharoonkhan (75) · 5 years ago

yes brother your thought are 100% true, i always follow you, i believe that steem has great future and tron also, yes bright future is very much safe, thank thank for this video, your thought make us more strong ,,

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lisfabian (69) · 5 years ago (edited)

Interesting what I read in the comments. There are always going to be those who want to destroy everything. Everything will have more speed. Many will stay and others will be able to surf the wave. We must have more information from the guides, also wait and regarding that is the safest platform I agree with the friend @theycallmedan and @chekohler, I wish from the heart that many can keep this platform better said that we all can keep this platform where many we make life and we learned that with retirement not everything ends. May we continue to grow by helping to serve together and above all by making known this type of information that helps us to understand some situations. Given that everything like education, marketing, management, web is 3.0. I will read more about this. Thank you for motivating me to keep learning.

May we continue to learn about these two projects and others that will help us get out of this crossroads. And to be able to continue producing. May we all be happy, although there will always be discontent, that we can continue to build streets. Without waiting so long for others.

This is proof that we can trust the youngest, this is a good opportunity to prove it.

I loved the image of the video, that flame lit between foggy darkness and she lit a lot to make the imagination fly.

"The people that make the hard choices know that there is going to be back lash. They do not lash out back and tell people to like it or leave it. They are the real leaders, not the ones that lash back at the people that share a concern about the choice they made".

Very well written @bashadow.

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janijani (43) · 5 years ago

Brelent

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skylaa (65) · 5 years ago

Your thoughts are really good. I support and respect of your posts. I greatly respect your thoughts. Yes steem will one day go up, and it is for some good people like you, who are just trying to move steem forward.

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martie7 (62) · 5 years ago

Atomic swap won't make the steem price higher. I don’t know why we need these technologies.

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