Review: Checking out the Graphene based "YOYOW" with <-> BTS <-> ERC20 Wallet swaps

in #bitshares6 years ago (edited)

Yoyow - A Graphene implementation to watch

This is a quick look at an example of a Graphene implementation, the original framework from which BitShares, Steem, and others were created. This Graphene implementation or 'fork' is called YOYOW or "You Own Your Own Words" and comes from China. What they have achieved through some clever development work on top, has impressed the Graphene World. Along the way, we are taking a review and look through their native OSX wallet. And what a wallet!

Graphene Devs - Check this wallet out please :)

All throughout this post we are showing screenshots from the wallet and gateways for YOYOW. The tokens can be purchased on the BitShares DEX as a UIA for 1-1 exchange on the YOYOW native blockchain. Being also Graphene (MIT) based, this process is somewhat akin to 'atomic swap' or a 'side chain'. Controversial statement: *those 2 are really just sayings*. It's fast. It works. You swap tokens code, immutable and recorded on Blockchain(s).


Still from the YOYOW chain, we can also convert the native YOYOW tokens to ERC20 versions which can be sent onto another exchange for open market crypto trading. This is an impressive setup on all accounts. In the current crypto-sphere, so many exchanges accept and list ERC20 tokens; in fact only those and nothing else. This is down more to liquidity than trust; ETH/ERC20 just has more profit for a CEX to work with along with established ways to integrate, but we all know for real - DEX is coming.

Real world opinion

At least, these features make getting YOYOW tokens from a native blockchain to other exchanges, platforms, and then also BitShares - easy for now and are unique.

The result in the current market environment, is YOYOW can be moved around quickly and easily to multiple platforms and exchanges. So it is liquid and has utility for use in all crypto-space. By this uniqueness of operating and working wallet right now - highly innovative, well funded, has a team of serious and respected players in the field, and likely to add more working features like this or keep up with more innovations. Fees earned from users transactions will obviously further power the YOYOW network, but in this quick '30 thousand feet' review, we just have to add 2+2 to see this project seems - very alright. We didn't even look at the website or the massive social network they are building around this wallet....You can also give us your views and opinions in the comments.

In the below screenshot, making sure we get the transfer correct. Sending your YOYOW to the native chain from the BitShares DEX is just a send operation. Still a bit tricky, as YOYOW has some fairly rustic translation going on for how to setup the memo. Well, we all know things are a little rustic around all these decentralized apps. Essentially, get the gateway name correct and create the memo yoyow#[acc-no] and we are set. Another interest to note, in YOYOW the account names are implemented as unique and numerical, like back account numbers. This is going to help them with tracking, password recovery, KYC and a lot of whatever they decide to do.

First starting with a small amount of 2 YOYOW only, oh, and be careful - one time making these screens, I made a mistake in the name with a '-' instead of a '.'. It should be 'yoyow.gateway' ... here shown correctly.

Some more tips and CHECK the name is correct.

Back to the main event

Well we don't do TA here at however this coin went 100% on coinmarket cap in the past 1 month.

More screenshots, please!

Native wallet app for OS X works well and is multi-lingual.

Once you get inside, and check out the gateways for the star of today's episode ...

You send your YOYOW tokens from here on the YOYOW chain and they are issued within a minute as YOYOW UIA on BitShares DEX. The value is of course determined by the exchanges, as you can also convert to ERC20 at a slightly greater fee.

Here we send our YOYOW off to the DEX to be traded.

Looking at some of the wallet features which include a 'tipping' wallet. You Own Your Own Words (YOYOW) will be a social network with similarities to Reddit, Facebook, Steemit and others. A 'side wallet' provides 'petty cash' or kind of think of it as going to the market with your purse and only what you want to spend that day, with the rest of your life savings safe and sound in the main balance. We can also see 'Bonus Points' which are some kind of loyalty points system, details of which I didn't find yet so please leave in the comments if you know!

Witness voting - how about that, familiar? 'Council' also. Can you tell us what you know in the comments?

Quick Wrap Up

Lot's we haven't covered here, including how the testnet currently looks and the team behind it - which by the way, includes some quite serious players from BitShares and Graphene world. Let's just leave it here for now, as YOYOW being 'one to watch' for now. Get yourself familiar, as we'll likely be back to revisit this one.

Link -

Image credit: Michael Marlatt

Click below to register a BitShares wallet.

Read in Korean

Read in Chinese

Read in Swedish

Good initial review. I recall usually seeing yoyow around the top in volume on the Dex. Will look more into the erc20 component. More interpretability going forward would be great.

Hi @john-robert, thanks. Most interesting is all the functionality going on in the wallet. Leaving plenty of room for others to discover this project, just as a great example of Graphene and very relevant towards all of us interested in BitShares World.

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d

Will have a look at it. Awesome... KISS principle = "Keep it simple, stupid" as a design principle

This is a cool bot ...



Great infromation sir

I recommend upvoting and resteeming!

Keep the good work up