How to Build Koinos dApps with Blockchain Architect Michael Vandeberg

in Koinoslast month

I’m Andrew Levine, the CEO of Koinos Group, where we’re developing the Koinos blockchain which will have free accounts, free transfers and free smart contracts. These features, in addition to the technical innovations that will make Koinos the most upgradeable and the most scalable smart contracts platform in the world, will enable developers to build amazing decentralized applications. But this doesn’t mean developers will be able to do whatever they want on Koinos. Koinos will still impose limitations in order to make the platform economically sustainable and to maximize user experience.

In this episode of the Koinos Group podcast, I chat with Michael Vandeberg (@vandeberg), co-founder and blockchain architect at Koinos Group, about those limitations and how developers can begin building their Koinos applications while we are still working on the testnet and the mainnet. Michael leverages his unparalleled experience as a decentralized application developer--having helped launch, maintain and upgrade Steem as the Senior Blockchain Engineer at Steemit--to explain how aspiring dApp developers should think about the design of their application as a whole, in particular, what data does and does not belong on the blockchain (and in a smart contract).


Audio Only Version


To learn more about Koinos, go to koinos.io.


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If I understand right,

Uniswap like apps can run on Koinos without a fee. Would it bring the same problem hive/steem has at the moment? there is no reason to have a large amount.

I think it would be awesome to have all these apps work feeless or against some fee for delegation.

I think the mechanic behind must be really smart to have a huge success. I can imagine how it works out if Games, Defi, and so on come to koinos.

Edit: how do free wallets work to prevent spam?

Great question. You're correct that the mana system alone isn't a sufficient mitigation against that kind of spam. During the early design phase of Koinos we thought a lot (A LOT) about "mining contracts" on EOS like EIDOS, which is effectively the same attack. Since Koinos is more similar to EOS than Steem (despite being a totally new and different architecture), that might be the better comparison.

Let's start by really defining spam. A user can absolutely perform tons of transactions, even maxing out their mana/resource credits, and all those transactions can be valuable to the user (not spam). Spam is those transactions that a user is performing simply because they have surplus resource rights that they would not otherwise use. In other words, they are choosing to mobilize their resource rights because there is no cost to doing so. Since there is no cost, then any upside, no matter how tiny or how unlikely, is worth it. The issue is one of opportunity costs. There are opportunity costs associated with holding a given asset, so if holding that asset gives you any capabilities, you're going to max out those capabilities in an attempt to offset those opportunity costs. The solution then is to give the user another option to which they can allocate their capital that will provide them a yield equal to or better than those opportunity costs. With that option on the table, the user will be incentivized to acquire only as much resource rights as they need to perform valuable transactions.

OK, that's cool. Let's see how big the demand for mana will be. Tokens can be created on koinos right?

Yes, it's a general purpose blockchain like Ethereum and EOS. Mainnet will launch with a token protocol like ERC20.

One word "cool" :)