Core development report #14: RC DELEGATIONS ARE DONE

in #core8 months ago (edited)

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Hi !

As you probably red in the title, I am excited to share that rc delegations as a feature are now done. I went through another round of code reviews with @blocktrades' team and the code is now merged onto the develop branch.

What "merged" means is that the feature is now done, and ready to be tested along with the other changes once we release a public HF26 testnet. It's been a VERY long time coming with basically a complete rewrite of the feature (the switch from rc pools to direct rc delegations). And I've basically been working on an off on rc delegations for such a long time that it barely feels real 😄

if you're curious, the commit is this one: https://gitlab.syncad.com/hive/hive/-/commit/7677c46755b8f86ad50153a96fac5143d4232ca6

Anyways, back on the testnets, I assume your question is "when". There was some very cool work done by @blocktrades' team there where you can effectively mirror the main net but as a testnet, which means we can test HF26 features as if it was the real thing. It's really important for RC as RC usage and cost depends on how used some transactions are, so something may look perfectly fine in a testnet but then fail on real world conditions. The work to make that a reality is not finished yet, I will work with @gtg once done to setup a "mirror" hf26 testnet.

So while that's getting done, I will setup a small "light" testnet, without any accounts or anything next week so that you can play with rc delegations, then we'll move onto a bigger/better one :)

Additional vops soon to be done

Meanwhile my other work on adding additional virtual operations for missed blocks (https://gitlab.syncad.com/hive/hive/-/issues/187) and HIVE in / HBD out when sending hive to the DHF (https://gitlab.syncad.com/hive/hive/-/issues/172) is almost done.
you can follow that merge request here: https://gitlab.syncad.com/hive/hive/-/merge_requests/332

Back on communities

A lot of the things I wanted to bring to hived are done (or almost done) for this hard fork, so I will shift my focus on...

🌈communities🌈

I know it's been a long time coming and I thank you for your patience.

@howo

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Congrats for finishing and merging RC delegations. I know from dev talks it wasn't an easy task to adapt (or rather rewrite) the code from RC pools to RC delegations. Looking forward to see them in practice after HF26.

Most excellent.

Once upon a time I believe there was talk of, in addition to RC delegation, dynamic RC pools. Did that idea get dropped? Or, was that simply different terminology for the same thing?

I think you're referring to RC pools, those were the first iteration of rc delegations that got rewritten into direct rc delegations

An amazing news! We were looking for such a development for so long!

HUGE addition! Good work guys/gals. This is going to start to give even more functionality of having Hive powered up and ready to power applications as we get more and more developers on board building projects on top of hive.

What’s the possibility of being able to transfer Account Creation Tokens? Onboarding front ends have had problems keeping up and potential new users have been turned away due to lack of Account Creation Tokens. Just my 0.02

What’s the possibility of being able to transfer Account Creation Tokens?

There were a bunch of talks regarding that, the main problem about it is that if right now account creation tokens are scarce it's because they cost a lot to create, but if we allow their transfer, it would become valuable and everyone would try to claim them, making their price skyrocket which would have the opposite effect (even less free accounts)

Why does their price in RC’s have to skyrocket? I imagine it’s to prevent people from creating 10,000 accounts and farming Hive🤔 If there is no financial incentive for trading the token, how do they become valuable?? The onboarding front ends need them and Hive users have 1,000’s just sitting collecting dust. Turning people away due to lack of ACT’s doesn’t look good is all I am getting at.
Thanks for the response.
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!BEER

Why does their price in RC’s have to skyrocket?

Because everyone will be claiming them to sell them, the more an operation is used, the more it costs.

If there is no financial incentive for trading the token, how do they become valuable??

offer /demand: there is an incentive for people to acquire tokens from others, it creates a market.

Turning people away due to lack of ACT’s doesn’t look good is all I am getting at

yeah I agree, there could be a middle ground like allowing transfer but with some cost like burning hive or with a bit timeout

once you can delegate RC, we will have RC Cola delegation market on @dlease or whatever, and then people will just buy RCs to create the free accounts earning the account creation tokens, maybe it will be cheaper than 3 hive.

Now we have to figure out how to scale hive main net to 100M and then first billion accounts without having to make 1000 different regional forks all linked up.

Hive cannot even make more than X amount of accounts right now, can we? Theres not enough Rcs or Hive is there? so whats the plan to actually scale hive. thats why its not very valuable as a token yet, the world knows we cant scale yet or we would be using tip bots to start airdropping hive engine tokens to every twitter account at the same time with a signup link to get them to signup, but theres not enough RCs for this or hive. whose gonna pay?

am i wrong in noticing the bottleneck dolphin ?

I know a lot of people have been waiting on this. I very rarely get very low on RC's and now maybe the opportunity to put them to work helping new user to be able to gain a quicker foothold on how things work on Hive. Plus the chance to maybe make some side Hive renting some RC's out.

just buy more hivepower

Some people that join Hive may be unsure if Hive is something they are looking for. With the ability to provide a usable Resource Credit balance to an individual it will allow them to post and comment and see it Hive is something they are going to like and want to be involved in.

Just telling them they need to buy Hive is not going to work.

pay to vote pay to post, eventually voting and posting and commenting will just cost liquid hive like the new EOS resource model where you can pay with liquid tokens to pay for transactions haha

do any of you guys in Hive even know how that new eos system works? it sucks when youre on eos but on hive it can work great lol

resource credits that charge up by paying some liquid hive, for 24 hrs

I have zero reason to go anywhere else, so nope, no idea how EOS works. I don't think Hive will be following any models other than it own. For now it is free to post, to comment and to vote, it just cost having Resource Credits, and most transaction have little effect on the Credit level of a persons Resource Credits, except for making account tokens. Account tokens take a LOT of Resource Credits.

It is not hard to get enough resource credits for most transactions on Hive, 100 Hive powered up pretty much lets a person vote and comment and post quite a bit.

I don't see Hive ever requiring Liquid Hive to do any transaction.

High five.

Can we get convert hbd to hive from the savings accounts?
Rather than having to wait the three days and then convert?
If possible, with cancel op button, so we can change our minds before it happens.

cancel in the middle of a convert would kind of defeat the purpose of the 3 days delay.

Convert hbd to hive and vice versa from savings account could be done, unsure if the dev time is worth it for such a small Quality of life change

cancel in the middle of a convert would kind of defeat the purpose of the 3 days delay.

I don't understand the mechanics of this.
If the new convert starts over the three days it seems there would be little impact one way or the other.
It does allow for the reconsideration of the value of the trade if the price were to change in a negative way in the interim.
With the hbd stabilizer running, 6+ days is likely to find the hbd price closer to the peg.

unsure if the dev time is worth it for such a small Quality of life change

It would be a great change for me, I could've converted my savings to hive by now instead of having to wait another 3 days, total of 6, plus the time between the release of the hbd and me getting back online to start the conversion.

Is the change dev time intensive?

lol how about a button to convert hive from savings account to swap.BTC ?

Meh, I might go for ltc.
Btc is dead to me because of the fees.

fees? they arent that high

and we have PBTC on eos telos and swap.BTC on hive to scale it haha in an emergency if we had to haha

Rich people problems,...

Best news ever! Thank you, really looking forward to this innovation on the chain.

Which onboarding projects need RCs most? I assume delegating HP is still ideal for people we bring in ourselves.

Probably all of them haha, for close friends yes HP would still be ideal so they have a tast of curation rewards etc

RC delegations are nuts

you could theoretically create a crazy chain reaction referal system with new account creation where you earn Rcs you can then sell later etc etc for signing up a lot of people, or rent out groups of Rcs for account creation token farming, and make new accounts have beneficiary rewards on your own front ends, and make the hive account token creator super valuable. hive accounts become lifetime memberships

what else can you do with rc delegation.... delegate out the ability to post content or play games, does rc delegation take 10 days to being back?

hah what happens if hive RCs become their own tokens listed and traded on hive engine and bigger exchanges , hive account creation tokens become like NFTs each with various amounts of preloaded hivepower etc

I think more in a way you can delegate to projects and in a return, you earn a token. The project can redelegate to users and growth.

Enduser doesn't need ever to own hive. It's all about L2 revenue.

But that's something that is in the stars :D

Also, this hive needs to become more powerful over time to not end up like eth.

I don't see it today. Some people love the idea a post is worth 100$ in the future.

I hate this idea.

Great news this will help a lot for little accounts like mine :-) thank you

Very nicee

One of the best news we were waiting for!

Thank you~

As always, thank you for doing all the coding work for us.

Very cool and very very significant. Amazing job. Thank you for all your hard work.

The is great news, everything will fall into place eventually, can't wait for the testing to be done and send this thing to reality...

Sick! Great news @howo :))

Thank you! Awesome news!

Niiiceee

Very nice to hear! Rock n' Roll

awesomesauce! :)))

A monumental day in the progress forward for Hive.

This is a major change, or will be once things go live with the next hard fork. Great work.

Awesome news!

Working with testnet. Very nice and admirable

It feels hard to understand

Sorry, those kind of posts are quite dev heavy.

esta super interesante un buen sitio para aprender

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Thank you for all your hard work

oooh if we can delegate and buy RCs now we can start collecting all the un used resource credits, and collect them in accounts that can create free accounts, i wonder how many free accounts we could create cheaper than 3 hive each this way

Great news! Thanks for the great work.

The work you have done is good, it is functional for the Hive platform. Congratulations to all the team that made this idea a reality.

Does this mean that I can delegate RCs directly to another user?

Instead of HP as usual?

After hard fork 26 yes :)

I want to be a software engineer .
I need your guidiance

Sorry I can't mentor people, I have far too much on my plate already

Can you direct me or give me a headstart.

Jacob Sorber's youtube channel: https://www.youtube.com/c/JacobSorber/playlists