What's your view for HIVE to support Smart Contracts?
Should content and curation rewarding be 2nd layer, ie move away from 1st layer? What's your take on that?
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What's your view for HIVE to support Smart Contracts?
Should content and curation rewarding be 2nd layer, ie move away from 1st layer? What's your take on that?
I don't think smart contracts means we need to instantly push the first layer rewards onto the second layer. I do think we need more usecases for HP and RC and smart contracts can be a great addition to that, if we ever decide to push things to a second layer I think we need to be very careful with it, do it slowly but a bit faster than current inflation changes. Until then we should make the most of our downvotes to not reward low effort and unfair rewards to people due to certain stake or price increases. If we can't control that well and as a hivemind decide what is deemed fair and unfair then we probably are better off lowering it a lot more and finding other solutions. I still have high hopes that we can come together and find the right balance during these volatile times.
The transition to the second layer for content and curation reward shall indeed be done carefully, though I think it'll be an inevitable transition. Orrrr, we need to stick to social services for the HIVE chain only, but I rather see services to be on the second layer with each social network having its own token and reward pool. Twitter-like, Insta-like, FB-like, Reddit-like social media all have different dynamics and shall not be serviced from the same reward pool. We've seen too many issues with that in the past so many years.
I like to see the fast block times and chain capacity used for services that require fast database (blockchain) transactions. Maybe we shall lower the block time to a second or lower. That'll make real-time payment solutions (PoS) possible. I think HIVE has the characteristics of a general-purpose blockchain, but it is held back by the social side of things on layer 1.
For now, like you, I have hopes that we can control content well enough. That's the reason why I still continue curating every single day :)