Hi Hivers!
So usually I post artwork, and other creative works. But, this particular day, the light bulb came on upstairs in my attic... (attic/brain for those less inclined:) So the Idea was this:
To create a HIVE "HONEY" Smart Contract/Agreement, or Another Way To WORK FOR HIVE. The HIVE "HONEY" contract name comes from the ability of the HIVE Blockchain to "drip" the Hive's Honey/Rewards to its participants. (through manual time & work) Honey bees make honey as a way of storing food to eat for the winter period, when they are unable to find nectar and pollen on available flowers. In this case, the "HONEY" Smart Contract would serve as a viable way to make/store Liquid HIVE even if you were not getting your post Upvoted or Curated. Simply by interacting, and keeping your agreement with the Smart Contract, a person could earn HIVE. And to not only use the HIVE Blockchain for posting and blogging, but as a mechanism for getting more HIVE on a daily basis. Now let me preface this with a disclaimer also:
- I am NOT a Developer/Coder/Software App Designer
- I have NO knowledge Of the HIVE Blockchain Inner Workings/Blockchain/Programming/Coding etc.
- I am NOT here to take over the chain...Just thought that I would throw that In there just In case you were wondering:)
So how would it work?
I would make an agreement with a HIVE "HONEY" Smart Contract. I want to make, say, 10 HIVE In a day. I would take the number of HIVE (10 HIVE in this case, but the actual number could be more or less) and multiply it by the price for that particular moment. Then, the smart contract would multiply that number times 100,000. Why 100,000? Because that number is great for difficulty. "Difficulty" meaning how easy, or hard, something is to do, based on the price. And also, the multiplication of those two numbers is how many times I would need to type In characters on my keyboard. ...Yes type In characters...that is where the work part comes In! (You could use the "Z" and "M" characters on your computer/desktop/smart phone/tablet keyboard to simulate your left and right hands as one Hit each) "Z" would equal One (1) character Hit, and "M" would equal One (1) character Hit. Sort of like a "manual-miner" on the HIVE Blockchain so to speak. The Smart Contract would keep track of your count, or number of hits. Your time, effort, participation, and contractual agreement would create the engagement needed for the fulfillment of said contract. The higher the price, the more difficult it will be to get the same number of HIVE In the future. Or easier, the lower the price. And also, these HIVE Smart Contracts would have a 24 Hour countdown timer/expiration placed on them as soon as they started. The participant would have to complete the agreement within 24 hours. But, there is a catch. The participant must have the same number of collateral, as to what they are asking for. If I want to receive 10 HIVE, then I must have at least 10 Liquid HIVE held as collateral by the Smart Contract. If you do not complete your agreement within the 24 Hour period, then your collateral gets evenly distributed to all the other participants In the HIVE "HONEY" Smart Contract for that specific day. If no one else has entered into a contract for that day, then those funds are held and dispersed for the next available day that HIVE "HONEY" contracts are engaged. The collateral is an incentive to complete your agreement to the HIVE Blockchain.
So the example would look like this at the price of $0.115 Cents USD
Bob wants to make an extra 10 HIVE in 24 Hours.
He first, puts up 10 Liquid HIVE as collateral. HIVE "HONEY" holds his 10 HIVE In escrow.
Next, he enters into the HIVE "HONEY" Smart Contract.
So 10 Hive x 0.115 Cents USD (current price of HIVE as of this writing)= 1.15
1.15 x 100,000 Difficulty= 115,000 Thousand Characters Typed on his keyboard using the "Z" and "M" keys.
Bob completes his contract within the 24 Hour period.
He then receives 10 Liquid HIVE In the account in which he made the agreement.
Bob's 10 "collateralized" HIVE are also released back into his account.
He has to wait until his 24 Hour contract has expired to start another contract.
Now this same example using the price of $8.00 USD
Bob wants to make an extra 10 HIVE in 24 Hours.
He first, puts up 10 Liquid HIVE as collateral. HIVE "HONEY" holds his 10 HIVE In escrow.
Next, he enters into the HIVE "HONEY" Smart Contract.
So 10 Hive x $8.00 USD= 80
80 x 100,000 Difficulty= 8,000,000 Million Characters Typed on his keyboard using the "Z" and "M" keys.
Bob completes his contract within the 24 Hour period.
He then receives 10 Liquid HIVE In the account in which he made the agreement.
Bob's 10 "collateralized" HIVE are also released back into his account.
He has to wait until his 24 Hour contract has expired to start another contract.
See the difference of the 100,000 difficulty in regards to the price? The difference is HUGE! As the price increases, it gets harder to earn even a single Liquid HIVE. But, this (100,000 Difficulty) number could be further discussed/adjusted up or down, per the HIVE community/developers. And also, Bob could have the option for the Liquid HIVE to be put straight into HIVE POWER. (HP)
But, If Bob were to default on this contract, he would lose his 10 Liquid HIVE. That 10 Liquid Hive would be evenly spread out among all the other participants for that day. (If there were 100 other HIVE "Honey" contract participants, each of them would receive 0.1 Liquid HIVE from Bobs 10 held in escrow.
And That's It! It's that simple. The purpose of this idea was to give another option/way for people to earn HIVE. I believe that the HIVE Blockchain is capable of many, many more applications. This possibly, being one of them for the future. I believe that once the system/contract is working correctly, then the UI/Functions could be Improved. Maybe with some animations of a HIVE w/ BEES gathering "HONEY", to accompany the theme of this Blockchain. (just an option for a improved experience...but mainly focusing on implementation now) This will also benefit people who want to earn more HIVE per day, and build up their account. Maybe earning for posting, curating, or both. It is also a more stable way to earn a specific amount of HIVE daily, set forth by the user...And Not only through blogging.
Well Hivers...Do you think HIVE "HONEY" is a good idea? Or, something that could be achieved in the far off future? Is it possible? What other implementations do you think could be added/taken away? Please discuss among yourselves In the comments area. HIVE Developers, Coders, and Blockchain Technical personnel are all welcomed! **Again, this is just an "Idea" for the community."" I've been an observer/member for almost 4 years on Steemit (Old Platform), and now HIVE. And given enough time, you'll start to see what things could possibly make this platform more attractive. If anyone is interested in starting this project, let's also chat below:)
Thank You For Your Time,
Steemit-Life
(yes the name is still Steemit-Life because I couldn't change the main account name to "Hive-Life"...That is permanent so far as I know...So it is what it is...Steemit wasn't perfect back then, but better than the new "system" that came on board as of present! No names need to be specified or called at this time...lol!
(oh and Bob up top, in the picture, thanks you too:)