If you've been hustling on Twitter there's absolutely no way you haven't heard of @fbslo and what he's been doing for Hive, especially regarding wrapped assets. Starting with Whive, expending the reach with wleo, and now enabling Wrapped Hive Engine Oracle to provide a relatively easy entry point to anyone trying to expand outside Hive.
Hive is slowly closing the gap between different ecosystems while enabling different communities to connect. It's actually quite important thing since crypto is well known for its tribalism, and I'm not joking. Instead of collaboration, we have wars, instead of connections we have fierce rivals just waiting to talk shit about other projects.
Now, the fun part is that the app doesn't require any coding, here's a quote.
*Before starting with the actual setup, you should know how this works (don't worry, no technical details here) The setup (and app itself) is made of 3 parts:
- Frontend: The frontend is a nice website that will show information about your wrapped token and provide an interface for interacting with smart contracts to non-technical users. It's using generic whive.network design, but you can modify header color in config ;) All other info such as token name, symbol, platforms... is updated directly from the config file, so no coding required. It does not have access to any private info such as private keys.
- Backend: This is an actual app that will track events on both Hive & Ethereum blockchain and take care of wrapping and unwrapping tokens. It's completely separated from the frontend and should be run on a separate server for maximum security.
- Smart Contract: Smart contract for ERC20 Ethereum token.
Security Issues.
There's a problem regarding security, the oracle is centralized and as such is more subjected to attacks. However, there's a brilliant solution to this, tribe owners can run a separate hive engine node that will validate transactions that prove to be true on both official and backup server.
Crypto is still a wile west industry and it requires a lot of patience and building to reach a bigger, richer audience. There's no easy way out.
The thing I wanted to say is that if there's anyone thinking of wrapping its tokens, we have a pretty strong community on Twitter that's ready to push you as far as we can reach. Under the premise your project is legit.
If you haven't already, vote for @fbslo as a witness.
Posted Using LeoFinance Beta
Happy that you are using my image, but would be happier if you just add a reference to it.
done
Reference "The Almighty Dalz" in bold letters.
Posted Using LeoFinance Beta
Guau it is a great point and developent that carry hive to the moon, we are sure that have a gold mine but without exploit,for this reason we need to continued work hard, the posibilities are fantastic,
thanks for the info we are here to do someting for conserv our comunity in live
hive on to the moon too.
Posted Using LeoFinance Beta
The sooner the better. haha
Building out the tools required to move Hive forward is taking time but we are seeing it. This will roll out to other projects are they realize what is taking place.
It all comes back to development. We are going to require trillions of lines of code to get this place to the point where it is a viable.
That is in the process.
Posted Using LeoFinance Beta
I do understand the importance of code itself, however, I'm afraid there won't be a lot of progress without marketing efforts.
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