Feel free to ask as many questions as you'd like on Hive or in our discord server
Oh that's nice. I don't have access to my Discord for a month [vacation], so I hope you don't mind me asking here. No rush on answering. I checked the peakd post, and maybe because I don't use Github, I don't think there's any documentation on the lite accounts yet.
The amazing part about this technology is that it can be leveraged to allow Ethereum wallets to own L1 Hive; no wrapping or bridging. This enables a Hive user to easily send Hive/HBD to and from any Ethereum address.
I think this is a big deal, even more so with the no wrapping or bridging. Lite accounts are free, and maybe making one would be safer, but is it possible for this feature to extend to regular Hive accounts in the future? ETH has high fees, while Hive has no gas fees, so since half of the network is different how does that affect the fees; will we just follow the ETH gas fees since Hive's is free? Will the Lite accounts be able to stake Hive tokens, especially HBD savings? In the future, can it cater to other tokens from either Hive [SPS, DEC, STARBITS, etc] and ETH/Polygon/BNB chains? Additionally, will it be limited to just ETH? Do you plan on working to include other blockchains like WAX, Ronin, etc?
I feel like once you and blocktrades are able to integrate it to Hive L1, these accounts can replace metamask and regular Hive accounts; maybe even more wallets in the future.
Any extension to the standard Hive accounts would require extensive modifications which may or may not happen. I have plans that are much more focused and will require no L1 changes while still being part of the L1. The lite accounts have zero fees at the moment but will have an RC system similar to Hive using staked HBD. It will be possible to stake HBD via a lite account in the future. Hive staking won't be supported in the shortterm as it's much more complicated to deal with. As for other tokens like SPS, DEC, etc there is no plans to allow for staking. It would require extensive changes to VSC and/or coordination with Hive engine. If there is coordination on Hive Engine supporting lite accounts then it might be something we support. If users need to stake those tokens then they can upgrade to a Hive account.
Wow, thank you very much for the detailed answers. These are very exciting. When I mentioned the other tokens like SPS, DEC, etc, I wasn't really thinking about staking. I was wondering if the Lite accounts can interact with it, like transfer between other Lite and normal Hive accounts. Seeing that the Lite accounts can upgrade to Hive is nice.