POB Update: Moving to Decentralized Smart Contracts
Scot Bot is the best modern tech to tokenize a community, but it is a centralized system. Scot Bot is the system that distributes tokens from a reward pool to content creators and curators with parameters set by the token creator. Many of these settings can be changed as needed, which can be helpful in situations, but the goal of POB is to be stable with the same controlled supply of Bitcoin. These settings should be set in stone to help eliminate trust that the system will not be changed.
Hive-Engine offers a decentralized version of Scot Bot so you can offer the same reward pool with the same Proof of Brain style rewards on smart contracts. These smart contracts are hosted by the Hive-Engine witnesses which gives Hive-Engine tokens a way to be decentralized.
POB would already have made the move to the decentralized smart contracts if it was possible, but currently the smart contracts are not able to do everything that Scot Bot can do. POB has a reward halving every four years like Bitcoin and the current smart contracts could not handle that.
After talking to @aggroed and @eonwarped it sounds like it shouldn't be much work to upgrade the smart contracts to have the capabilities that POB needs. However there will need to be some time to review for the new system for any problems before going live.
A problem with moving to the smart contracts is that all of the old posts will probably not show up on the new pob, so it will be a bit like starting fresh as far as content. I think it's worth it though to have a more resiliant decentralized system for POB.
For those that might be hearing of POB for the first time, POB is a simple 100% Proof of Brain token that mimics the same controlled supply of Bitcoin. Another way to say it is that POB has the tokenomics of Bitcoin but uses same Proof of Brain reward system as Hive.
Let us know what you think about POB moving to smart contracts in the comments.
Posted using Proof of Brain
old posts not showing up is a bummer, but you should definitely stick to the 4 year halving period. I heard that blocktrades is also working on a smart contracts side chain, so maybe there would be some new capabilities there as well
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It would be a fresh content start, great opportunity for growth.
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I think is a good way to make this community even better.
It isn't decentralized, one entity owns the keys that can make any change they want without going through the "witnesses". It's just changing from one bot to another bot (with less features) but likely more stability.
Is this the same for all hive-engine tokens? Is there some way to make it decentralized? There is no need for any changes as far as I can tell, so I wish there was a way to remove myself as a single point of failure.
Posted using Proof of Brain
Yes
Not without native smart contracts on Hive
This will remove you from the distribution. Scotbot uses the active key of the primary account to distribute tokens, the newer method uses a "smart contract" to distribute rewards,some how bypassing the new for your active key to transfer tokens. You still have the ability however to mint and distribute tokens outside of the contract as the active key owner. The net change really isn't that much different, it's just you have less features, like I don't believe the new method can mute content or do front end penalties.
Thanks for the answers. Unless I'm misunderstanding something, I think removing myself from distribution would be a good thing and I don't think we need the ability to mute or do front end penalties. I guess we will have to wait for native smart contracts to really make pob decentralized.
Posted using Proof of Brain
Maybe after moving to decentralized smart contracts you can transfers ownership of the token to NULL, then you will not be able to issue new tokens manually... The BEE Token is like that.
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How did I not know about this! This seems like tha answer to me.
Posted using Proof of Brain
This suggestion does work, but it is a very big move. Things may come up down the road that may cause problems like if you want to change things.
That's the thing though, I can't think of anything that needs to change. In fact, I think ossification would be a benefit to POB.
Obviously there could easily be an unforseen problem, but considering POB would still benefit from Hive's ongoging development, and the goal is to be decentralized with no single point of failure and to eliminate the need for trust as much as possible, it seems like the move to make.
Posted using Proof of Brain
I am not sure how Hive-Engine would handle things if you would need to change something if you don't have the keys. The problem a lot of people did when creating their tribe is not use a specific account for distribution only, then there is far less risk.
There are scenarios this will bite you in the ass though, let's say Hive comes up with native contracts, if you later want to move off hive engine like some of us will do as soon as possible, you won't have access to your core account anymore.
You will know best, but it isn't a decision I would do without a lot of thought.
I appreciate your feedback and I am definitely going let this roll around my mind for a while before the decision is made.
If Hive comes up with native contracts, I think Hive-Engine will adapt to continue to be complementary. The plan would be to use both as there still would likely be ways to innovate quicker on layer 2.
Posted using Proof of Brain
And don't forget to change the delegation cooldown to 10 days, because I don't think the hive-engine has protection against delegating when the Voting Power is at zero. Theoretically one person can use 100% of the voting power and delegate to another account and use all of the voting power.
Posted using Proof of Brain
Whereas I am all if favor of keeping and maintaining the Bitcoin model, I would think very carefully how to handle this.
What is the objective? Relinquishing control, or decentralizing control? Relinquishing suggests a system that just keeps running on the same autopilot for all eternit. Decentralizing means that the system still allows for relevant consensus changes to be made. I can appreciate your desire to not be a single point of failure, though.
The consensus witness system is nice in the it has always struck me as a "middle way." Sure, a single bad actor can attempt to take control... but the system also allows changes to be made when necessary... by consensus.
Of course, this is a Layer 2 situation, and I don't know how that works, tangibly speaking.
It would be a shame to to lose the existing body of content because it represents a history of the community... but if it had to be done, I wouldn't protest.
=^..^=
Posted using Proof of Brain
hi :-) I am guessing that old posts will still be visible on the old front end though and on all other parts of Hive, right? I mean that's how the blockchain works, doesn't it? You are only saying that old ones won't show up on the new POB? I guess that's the price of progress. !PIZZA !ALIVE
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What happened? Are you going to move to Smart Contracts or not? Scotbot has a problem that sometimes it stops working and if that happens the token dies.