Sounds interesting, a lot of keywords used DEFI, IPFS, decentralized, limitless, etc.
What is DLUX in one sentence in simple terms?
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Sounds interesting, a lot of keywords used DEFI, IPFS, decentralized, limitless, etc.
What is DLUX in one sentence in simple terms?
Decentralized Limitless User eXperiences is the name.
It's a way to deliver web pages and apps (any/limitless) without the overhead of servers. It's pretty complicated from our point of view (and in this post) because we found a way to hide nearly all that complexity with out taking any of your control.
Thanks for reply!
In developer discussions we say, if it is complicated to understand then it is likely workaround, rather than solution. I did some surfing but couldn't find clear information about
How it is decentralized?
How it is limitless?
I did find info on VR though, but not sure how DLUX, VR and tokens connected. Since my interest in tokens part, is there info on how token creation works?
The method for delivering apps can be built into a desktop/smartphone application. These in addition to dedicated servers can be incentivized to pin and deliver IPFS content. The signing information for putting apps in a container is already part of the HIVE blockchain. The node network is what is being built to incentivize the decentralized storage. In short all of these services will be distributed across a blockchain, a consensus sidechain, and IPFS. No single point of failure, no method to censor others("limitless" in creativity and execution - yet still possible on your front-end mirror), no method to confiscate tokens, and a free market for any required actions.
However, what we are hoping to build for HIVE with the funds from the HDF is the Decentralized Finance protocol which will enable communities like LeoFinance and Actifit to tokenize their platforms and have smart contracts with out enriching other exchanges with fees. Cryptocurrency was supposed to be a way to do microtransactions with out paying a 2.9% credit card fee. Today we have microtransactions and a 2% exchange fee (in + out).
Ok, How?
Token creation can happen by any method you choose. Bring your own tokenomics. On our chain currently we have a 5% APR that mints new tokens every 25 hours and distributed them to various funding accounts. In our tokenomics 20% gets distributed to nodes for making required transactions on HIVE in consensus. Some get put in a fund to reward new Apps/VR...
All of this is basically a system level smart contract.
Some of those functions queue node operators to make HIVE transactions that handle escrow and collateral. Meaning there is a trustless way to find operators in the network, send any two properly liquid accounts an escrow transaction, and be confident you'll receive the appropriate number of tokens. Likewise, if you're selling your tokens for HIVE/HBD the worst case scenario will appear to be a failed transaction as your tokens are returned by the network(the failing party will lose double this amount)... but the network will handle the trade and automatically generate the transactions necessary to complete the transaction and get you your HIVE/HBD. Since the parties handling these transactions are using free transactions the fee's aren't priced in GAS, can be paid for by network inflation, and only need to be high enough to prevent wash trading.
Do I understand correct? DLUX is needed for token creation, or why 2nd layer even needs own token DLUX, wouldn't that complicate the design?!
The point of this is to have the layer 2 token; In this case DLUX, but anything on HE could live here as well. Trustless swaps from Layer 1 to Layer 2 with out an intermediate token or centralized liquidity provider. This could be used to provide oracle services like 3speaks Proof of Access... or multi-sig in governance for cross chain swaps.
If I'm understanding what you're thinking... this is not a Hive-Engine replacement token to build other tokens. That would be the intermediary I've negated.