Today’s @steemitblog post is brought to you by Steemit’s Blockchain team.
We have been extremely busy over the past several months, and wanted to share with you some of the things we have been up to. This post includes news of our plans for an improved bandwidth formula, updates on AppBase, RocksDB, and Hardfork 20 (HF20), as well as the latest developments for Smart Media Tokens (SMTs).
Scalability
As many of you already know from our previous scalability post, the Blockchain team has been very focused on scalability over the past year. We know that these types of changes are not as exciting as new features and platform enhancements, but ensuring that the blockchain is ready to scale to 100x or even 1,000x usage is something that is important to do before we actually scale to that degree. Neglecting scalability until it is actually needed is a recipe for disaster.
AppBase
AppBase provides a robust foundation for meeting all of our future scaling needs, and will allow us to grow the platform while at the same time managing the resource requirements for third-party application developers, witnesses, and exchanges to grow along with it.
It does this by enabling many components of the Steem blockchain to become modular by creating additional non-consensus blockchains as dedicated plugins. These plugins can be updated much more rapidly because they do not require replaying the entire blockchain.
The pre-release for AppBase was announced about three months ago and we appreciate all of the testing that the community has done since that announcement. We have also been testing extensively, and have been working on several changes to resolve some of the minor issues that were detected/reported. We are very close to having the official 19.4 AppBase release ready for witnesses and node operators to start safely using in production, and we will post as soon as it is ready.
RocksDB
As we mentioned in our Exploring Steem Scalability post, we have been spending a lot of time researching various ways to store the steemd data more efficiently. One of those approaches is using a technology called RocksDB. We are pleased to announce that we have decided to go with the RocksDB solution, and have already successfully converted the “account history” plugin to use RocksDB.
RocksDB is a fast-on-disk data store with an advanced caching layer, which could further minimize latency when reading/writing to and from the disk as it is optimized for fast, low-latency storage. Used in production systems at multiple web-scale entreprises (Facebook, Yahoo, LinkedIn), RocksDB is based on LevelDB but with increased performance thanks to its ability to exploit multiple CPU cores and SSD storage for input/output bound workloads. Its use in MyRocks, for example, led to less SSD storage use, longer SSD endurance, and more available IO capacity for handling queries.
In comparison with the previous account history implementation:
- An account history node can now efficiently be run by storing the state file on a nVME SSD drive, instead of having to keep the entire state file in RAM. This has allowed us to start running account history nodes on 32-64 GB RAM servers, instead of the 488 GB instances we were required to use before.
- An account history node can now re-index in about 10 hours, compared to the multiple days that it took before.
- The state file is much smaller, as RocksDB has built-in compression.
We completed extensive testing of these changes in the development/staging environments, and have been running the changes in production for a little over three weeks. Any users who have been querying account history data from the api.steemit.com endpoint over the past three weeks have been getting their data from the RocksDB plugin.
Account history was used as a test of the RocksDB technology to determine if it fits our needs. We are more than happy with the results of this test and are working on a drop-in replacement for Chainbase that relies on RocksDB instead of memory mapped files. This will dramatically improve the performance of steemd, and we are very excited to complete the transition.
Bandwidth
As we continue to scale the blockchain to more and more users, the bandwidth formula that we use to allocate resource usage across all of those users becomes more and more important. The bandwidth formula that we are currently using has been adequate for the level of usage we have had so far, but there is a lot of room for improvement. Our goal is to try to find the right balance between allowing new users to have an amazing experience using Steem-powered applications like steemit.com, while at the same time preventing them from using an unreasonable amount of the network’s resources or spamming the network. We would also like to simplify the mental model behind understanding how much Steem Power is required for certain levels of use.
Our current bandwidth formula makes a somewhat crude approximation of the cost of a transaction, based on the size of the transaction. While size is one important metric, the improved bandwidth formula should try to take into consideration all of the different resource constraints that a transaction may place on the network.
We have been researching ways to classify transactions based on their impact on several different factors. By taking all of these items into consideration, we hope to come up with a much better representation of a transaction’s true cost with respect to:
- Blockchain history size
- Reindex time
- State file size
- Memory usage
- Disk iops
- Network bandwidth
We are currently working to integrate a new tool called StatsD that measures statistics into steemd, so that we can acquire superior metrics. We are also researching different bandwidth implementations that can be used to allocate usage based on these metrics.
Once we have gathered all of the necessary data and settled on the best bandwidth algorithm design, we will share all of the details with the community.
Miscellaneous changes
Security Changes
The team has worked on several security patches to improve the stability of the network, which were released under Steem 0.19.3. The majority of witnesses and node operators have already picked up these changes and are running them in production. If any node operators are still running version 19.2, it is recommended that they upgrade to 19.3.
cli_wallet testing
The cli_wallet is a tool that is used by many witnesses, exchanges, and application developers to interface with the Steem blockchain. As we continue to make changes to the blockchain architecture (such as with AppBase and RocksDB), we felt it was important to design a suite of tests that could be used to ensure that the new version of code remains backwards-compatible with the old version, and doesn’t break any functionality with the cli_wallet.
It should be noted that once SMTs are released, the cli_wallet tool will remain backwards-compatible with previously existing functionality, but it will not be upgraded to support the new SMT functionality. We will be providing a new tool before then (and instructions on how to use it) that will act as a full replacement for the cli_wallet, as well as support all of the new SMT functionality via the command line.
Code style guidelines
In GitHub issue 2366 we are working on a code style document, so that developers have a guideline to inform style decisions and the codebase has a unified set of style rules. These will be useful for any developer making contributions to steemd, and will help keep the source code clean and reliable.
Transaction confirmation API
On rare occasions an action made on Steemit.com appears to work, only to disappear a few seconds later. There are some edge cases where the current transaction submission logic breaks down and results in this undesirable situation due to the transaction not making it into an accepted block.
We are working on a new API to better determine the status of a transaction. It is not only more efficient than the current transaction submission process, but will allow steemit.com to detect these scenarios and ensure your actions make it on the blockchain.
The discussion for this has been ongoing here, and our goal is to have a design finalized soon, so we can start work on the implementation.
Hardfork 20
Hardfork 20 has been on the back burner for a while as we focused on scalability-related solutions, but it is time to put it back on the front burner. We don’t have an exact date for the hardfork yet, but we are targeting early Q3 of 2018. More details will be shared on HF20 as the development progresses.
SMTs
We have several full-time developers dedicated to working on SMTs, and a lot of progress is being made. While many of the changes being worked on so far are highly technical, and basically serve the purpose of updating much of the existing functionality in steemd (which was designed for a single token: STEEM) to work for multiple tokens, there is still a lot of interesting functionality that is beginning to take shape.
Here are 10 of the interesting changes that have been completed so far:
- In 1508 the initial work was done to allow the creation of a new SMT.
- In 1653 and 1729, test cases were created to ensure that all of the SMT creation logic works as expected.
- In 1683 the foundation was laid for SMTs to integrate with the internal market, so that users can trade SMTs for STEEM and STEEM for SMTs.
- In 2029 the structure that will be used for the SMT Market Makers to run on the internal market was defined.
- In 1682, the transfer operation that is used to send tokens between accounts was updated to support SMTs.
- In 1843 posts/comments were updated to allow users to specify up to two SMT tokens for which the post/comment will be eligible (in addition to STEEM).
- In 1856 the vote operator was updated to support vote operations on posts/comments that include multiple voting assets (SMTs).
- In 1896 the operation for users to claim tokens after a post/comment that includes SMT payouts is paid out was created.
- In 2056 support was added for the
smt_refund_operation, which can be used by contributors of an ICO to (optionally) cancel their contribution to an ICO and receive a refund if the ICO launch date is postponed. - In 2021, 2160, and 2085, support was added for “vesting” SMTs (SMT Power).
More Technical Details
For those of you who are interested in the technical details, the team is also spending a lot of time on important design decisions in addition to coding. Many of these discussions are documented in GitHub.
One example can be found in this issue, where we discussed how to handle automatic actions such as SMT emissions and Market Maker transactions. In another, 2212, we discussed the corner cases of SMT vesting to prevent integer overflows and rounding errors.
Testnet
We know that everyone is eager and excited to have SMTs completed and launched into production as soon as possible. So are we! Our dedicated team is working around the clock to make this happen. The first major milestone we are aiming to achieve is to have an SMT testnet (called “Forerunner”) up and running, where developers can start to play around with some of the implemented features.
We will continue to keep you up to date on our progress and will let you know as soon as the Forerunner testnet is ready for use.
Steem on,
The Steemit Blockchain Team
This is a fantastic update...my head feels like it's exploding trying to process all of this and imagining all of the possibilities that will soon be available on the Steem platform!
Once appbase and rocksDB are at a good point (which it sounds like they might already be at?) I would love to see a post or guide about the best way to set up a full RPC node/cluster using these new technologies and what type of hardware requirements are necessary.
I think it's a big problem right now that there are so few full RPC nodes available and it's getting prohibitively expensive and time consuming to set up new ones. Obviously these changes are aimed at changing that (which is awesome!), and I think it would also be good to have a clear guide on how to set a full RPC node up, what the various options are, etc.
Probably a good thing for the developer portal I guess (which I also love btw!)
Anyway, I could not be more excited about all of this and the future of the Steem blockchain. Keep up the great work!
Me too for new docs on building and selecting modules for a full or partial rpc node install, with the rocksdb build and lowered ram utilization configs and optimized disc strategies and all that. Get us to where we can get nodes online affordably, at lower witness levels and we will, and that will take a lot of pressure off the plumbing here.
Me too
I agree that these changes bring great capabilities which will be useful as Steemit continues to grow and SMT become more common.
Yes, I agree. It's one of their most successful summaries and it demonstrates a great effort to communicate the progress to us.
Agreed @yabapmatt @sircork it would be helpful if clear documentation were available for setting up full RPC nodes, as well as, ways to make them more affordable and how to manage them well. I've been chugging along trying to learn but there's so much information (much outdated) that its confusing and overwhelming.
Welcome to the game
✊😆 I swear I adore you @sircork hahaha
Aww shucks!
Thanks.
What I'd like to know is how to setup jussi to redirect the API calls to different nodes. That would help me load-balance between different machines 🙂
If I could understand more.... my head would explode too.
There’s nothing to understand, @yabapmatt is just a fanboy who will jerk off any moron with promises.
Yeah, honestly it's one of the things I don't understand. I like the idea of steem, but there seems to be only updates on how it will "perform better," not actually create changes that will fix the community, content, etc...
The front page, you can just scroll, and every single one is $200+ in bots, or it's just accounts spamming 4 post a day that have cult like followings, regardless of post content.
Steem is 3 things. Steem Circlejerk, Crypto Circlejerk, and "fixes" that only create avenues for higher ups to gain more revenue easier....
Nothing for the average user. It's depressing.
That sounds like an opportunity. Why don't YOU create content for the average user ?
You are confusing Steem with SteemIT. Steem is the underlying blockchain that transacts 1,8 million transactions at 0,15% capacity per day, more than all other blockchains combined.
SteemIT however is a platform on top of the STEEM blockchain. Don't like it? Build a better one.
please sir see my post.
I'm curious why so many nodes are offline do you know? It looks a bit strange. For my logical brain I would expect that they should all be up and running. So would you be able to run your own Steemit server to keep the page up or is it only witnesses that are allowed to do that?
Anyone can run their own Steem blockchain instances as well as condenser (the code that runs steemit.com).
There is a cost to running the servers though.
Thanks for explaining.
Long time no see @timcliff ! these are exciting times! 👍👍👍😀
What nodes are you talking about exactly? There is a list of steem full nodes here: http://geo.steem.pl/ and most of them are up.
Thanks for letting me know. Never seen that link before.
Because no one gives a shit.
Lol xD Well some care, and some don't. As it always have been on Earth 😂
I like the sound of reduced latency for use with the use of rocksdb :D. Will there be additional recovery options for our keys in HF20? And what is to be expected when this version is rolled out? Thank you for all the hard work of improving this platform. Cheers! @STEEMITBLOG
I'm learning but it all looks interesting
Good luck with your learning :)
I am feeling the same way. Amazing update guys, lots of great and reassuring items being presented. I am extremely excited about the future opportunities the Steem platform will provide, especially as it supports SMTs and scales out to support all us app devs!
I agree this was a fantastic update about many things we were waiting to here more news about. This is very reassuring that Steemit continues to improve its infrastructure so transactions and other functions will proceed without delays or incidents. The steady march towards completion of the SMT is also great news as this feature promises both greater exposure of Steemit and greater exposure of everyday businesses to the blockchain and how it can help them survive to movement from brick & mortar shops to the internet. Bravo
same here! I want to see more languages support officially with the API; I'm a .NET type of person, and some of my goals include making Steem integrate with DNN CMS via a module.
I'm also a .NET developer. What I did was setup some Python stuff with DJango using the library and then I write my software in .NET calling the API 🙂
Hmmm. IronPython might work well for that. Thing just got an update as well, so I could be messing with that, or call a Python library from a C# application; C# or PowerShell, for that matter, actually. Now there's something cool. A Steemit client that has powerShell script calls.
Basically I just send http request to Django. So far it's working great 😁 you could check out my Github if you'd like to see my approach https://github.com/moisesmcardona
That's pretty cool; wonder whether or not the APIs that are accessible via C Python are also accessible via ironPython? I would think they are; I mean, I do plan to include IronPython in my ideas for languages to learn; love all of them.
Due to the fact that I am a complete novice when it comes to the tech involved, I typically avoid making comments on these types of posts. First of all I want to compliment you on how this was presented. Although I would be lying if I said I understood every detail, I understood quite a bit of this post (great job explaining it to a layman!).
It gives the impression that significant progress is being made in one of the (if not the) biggest areas of need... scalability. Thank you for including the names of huge recognizable companies using RocksDB. Even if I don't fully understand it, knowing that sites with a huge user base use it makes me excited that we are planning to have a similar (or even bigger) user base.
It also seems that there has been significant progress on SMTs. Including the details of the significant changes was a great idea.
My favorite piece is the revelation that HF 20 is being pushed to the forefront again. That signals to me that significant progress has been made in many other areas that will allow manpower and resources to be spent on it.
I can't wait for the launch of these so that we can use them to help the community to grow and thrive.
Thanks so much for that thoughtful response @hanshotfirst. It's really helpful to know which parts of the post you found most useful.
Did you write this @andrarchy? Man, you were a great pick for this position!
Thanks @bbrewer! I oversee the content production system of the organization, but this specific post was written by an amazing team mate of mine @plink01001 who has a much better grasp of the technicalities of the blockchain. I'm happy to say that the Content Team is now getting to a stage of development and organization where we can produce far more content together than I ever could alone.
That is awesome man! I have been a fan of yours for a long time.
Kudos to @plink01001 as well. This was a great update and instills a lot of confidence that good progress is being made.
Aww shucks, thanks for the support!
The question remains... when will SMTs come out... seems like Q3 is not likely anymore... I heard those rumors that it would be beginning of July... after reading this my doubts increased... 33 tickets open for SMTs...
What can I say, you said it all, I agree, these are important points as many Steemians are not writers of code or proficient at translating technical terms to everyday language, but this article did a very good job and this comment sums that sentiment up nicely.
Bravo
Thank for this great update. SMT is the update we are waiting for. The society is excited for this new wonderful thing to create a token for your own platform. This is the reason why this community is awesome because working developers in this platform.
Steem blockchain is a protocol like Ethereum, Waves, EOS etc.
Steem has 1,8 million feeless transactions per day, as much or more than ALL other blockchains combined, using only 0,15% of total capacity.
Now, ethereum is transacting 800,000 transactions per day at 100% capacity - and is valued at $60 billion USD. It cant even handle a stupid cat game.
Steem is only at $800 million USD. If it is valued half that of Ethereum we are talking 90-100$ Steem. Do you see the price of Steem today? It is not falling like all other cryptos. It's up 3%. It is probably waiting to go off the roof once there is a more bullish sentiment in the market.
Steem has been overlooked and undervalued IMO.
I am more bullish on Steem now than ever.
Great to see all these projects being built and all the innovation on Steem. I'm very very happy to be investing long term in Steem!
Very interesting statistics, thank you, I will use that information in future posts.
Excellent update and on the steemitblog, no less! I'm glad to see the tech details get some love here and not just @steemitdev.
Thanks for continuing to communicate about the work you're doing. We really appreciate it.
as a new witness (@swisswitness) I really like the full node news... this will make it much more affordable for the smaller teams to set them up as well... This will really boost the blockchain strength and stability
That's really useful feedback @lukestokes. It is an ongoing discussion about where to publish updates like this, and whether steemitdev or steemitblog is more appropriate, so glad to know your thoughts on this.
Steemit, inc is a tech heavy company after all, and I say embrace it instead of trying to explain to bloggers why Steemit (your reference implementation of what’s possible on STEEM) hasn’t become the next Facebook yet with free money for everyone. STEEM has some solid devs working on important stuff. The more we highlight that, the more we can educate people on what’s going on and prepare them for a future where Steemit is just one among many sites on this chain.
Keep it up, man! We appreciate your efforts and the team taking time to put these updates together.
Agree 100%
agreed.
What language should I learn to develop something on Steem platform?
You should start by checking out the devportal: https://developers.steem.io/
thank you
Excellent and exciting news, looking forward for Hardfork 20 in early 2018.
early 2018 or 2019?
As mentioned by a lot of users here, I love how the thoughts were presented in a professional manner. It helps us understand (non-developers) in layman's term :)
It is very glad to know that steemit is developing. And your team always do it with success. Thanks steemitblog.
YES!!!! I have to confess I was a bit worried about the RAM requirements... Now I don't feel so bad when I say that I believe all top 20 Witnesses should run a full Node.
I know, that its not required, I get that, but to me it's about leading by example. I welcome disagreements, I do. But when the nodes go down and we have thousands of users not able to use the blockchain, It drives me nuts.
We are all shooting for mass adoption, as much as most users won't know the significance of this upgrade, we should all be celebrating.
Most of us witnesses don't disagree, but most of us can't afford it. If they can push HF20, we can, and then you'll see vast relief on resource utilizations system wide. Even if we just doubled from the dozen or so public ones now, to double that, it would be huge right now.
I'm aware that a witness that is not in the top 20 would struggle to do this. Some witnesses can't cover costs of operation from month to month and I'm sensitive to that of course. I guess my request is exclusively for those at the top.
I think it's a rational idea. But also, developers lean too much on the steemit api as well. Some of the others have been around a long time and stable enough to use as a primary with steemit api as a backup. That will also help the issue of people not being able to access the blockchain. Most interfaces I see use the steemit as a primary, and others only for backup. I feel it should be the other way around.
Music to my ears ! I was just telling a fellow Steemian that the SMT will be launched when we least expect it and I'm glad to see that we are getting closer now :) Awesome Job you guys !
Thanks! Don't worry, you'll be getting more information about SMTs as we go and should be able to begin getting a better sense of when they will be available, though we still don't have anything to announce yet.
Content Director, Steemit
Hi @andrarchy, great video you did in december... It got me all hyped up...
those rumors that SMTs will come out in July, are they reasonable at all, or could it be that SMTs will come out for example in 2019?
It looks like a significant update to me!
steem on!!
with all the Phising scams going on on steemit i would have expected to see a 2FA option on the wallets by now to protect the users .
Guys, again you are doing a very good job keeping us informed and especially working on so many important things.
The size needed to run the blockchain - decreased by using RocksDB
The problems with bandwidth - in progress
Hard Fork 20 (which I personally thought it got canceled, looking at its status on github
SMTs
Major changes like scalability, which can't be seen directly, but it is one of the most important.
I guess that @andrarchy was right when he said that your team is working continuously to make improvements on the Steem blockchain as they do.
You have my sincere congratulations for this!
Now the bad part...
What I personally am concerned about, when you have time to address it, is the fact that 11 days ago there was a downtime of Steem blockchain, if I remember well. It was a 504 error when trying to access steemit.com. The problem was also present on busy.org or when trying to run condenser locally.
My concerns are really big about it, since I am not so sure why this happened or if the blockchain was still running well at that time. I remember that steemd.com was also not responding so I think about this as a potential centralization problem of the blockchain. If this affected the whole blockchain, then can we really rely on Steem as completely safe and resistant to attacks?
PS: sorry for the self-vote, I am trying to make this visible...
There was no downtime of the steem blockchain, but there was a downtime of the steemit RPC node that the majority of sites and services built on the steem blockchain use to get their data.
This is exactly the type of problem these developments will help to solve. With Appbase and RocksDB it will be much cheaper and easier to run a full node so hopefully there will be many more available that the sites and services can use if one of them goes down.
Okay, thanks a lot for the reply, apparently it is not that easy to find somebody who knows what happened with that let's call it downtime of steemit.com.
So the apps that are connecting to the Steemit RPC node could somehow check if this node is down and switch to another one during the downtime? Is that possible or I am talking nonsense?
It would be up to the individual application developers to support that. It is possible though, and would be a smart way to design a more fault-tolerant app.
Couldn't have said it better myself @yabapmatt
Are communities in hf20? That will cause us to need all the scaling we can get!
Thanks for the update! I'm glad to hear that things are getting closer to being finished, and like everyone else I'm really excited for SMTs now. Really looking forward to testing it out on Forerunner when it's ready!
Brilliant. Thank you so much Steemit Inc. for the wonderful updates. Can we have these kind of updates every week or so. Especially about the progress of HF20 and SMTs? I know a lot of work has been done in the background but it would be really great to showcase/flaunt it every now and then.
Also one more feedback, even though I understand technical language to some extent but most what is written in this post goes over my head. I am sure several other people feel the same thing, so it would be great to add more pictures or videos while making such updates. Everything textual is boring and monotonous. I had seen a video by @andrarchy on SMTs when I first started my research on what they actually are. It was very informative, short and crisp. Producing such kind of content to provide updates would be very interactive. Cheers guys!
I love text it's the best clean and simple. SMT in short will just be so people have the ability to add a comment section like we see on Steemit on your own website. So people can upvote content all over the web and earn real Token value.
Tokenize the Internet that will say. We will probably eventually see some developer make so you will be able to upvote everywhere eventually. For example Telegram and Discord are currently un-monetized places at the moment. In a logical future it would be no place that would be un-monetized.
You have explained SMTs in a non-technical manner that can be understood by anyone @phoneinf. Cheers to you buddy. No wonder why people are dying to see them getting released. :-D Haha! Money Money everywhere. It will change the game for real content creators using services that are not making them money from the day one itself.
Haha yes exactly. Money everywhere. But I still think the major key will be to get that money streaming and flowing in the system! That will say that the higher value will be all the micro transactions of value. And the Quality Relationships and Quality Communication we build up. Since the real currency in this day an age is becoming Time and Attention.
That means that we never want Tokens to be sitting still inside of our account. We always want it to go back to work... I hope we can keep the Steem price down for a few more months so I can load myself up with some more awesome Steem. Then we can start the real Roller Coaster into heaven... 🎢
I can't wait for the revolution SMTs will usher in! The potential Steemit has created for society to become masters of their creations/content will, I believe, change the world. I have basically given up on the wider internet since I discovered that potential, using it merely as a reference to back up the content I discover here on Steemit, because I think in the future, and Steemit/Steem/SMT's is the future.
I have kinda missed the internet, a little, though, and can't wait for SMTs to make it worthwhile to contribute to the posts and comments that have become little more than trollbait.
Monetized upvotes make civility relevant again, and practically eliminate the incessant denigration of pseudonymity that has threatened free speech in the wake of what is little more than verbal vandalism pseudonymity has potentiated.
Some may think it odd, but I believe SMTs existentially critical to protecting free speech, countering both corporate/enemedia profiteering and trolling, leaving but true security threats and spam as reasons to attack anonymity/pseudonymity.
It is hard to imagine how the potential of monetization will impact cesspits like the chans and Youtool, but I expect the same impact on trolling that has been evident on Steemit will utterly transform those platforms particularly.
I, for one, can't wait.
Awesome comment! I agree 100%!
Since I run a YouTube channel with over 1 million subscribers it scares me to view the comments since nobody has any care about how they behave. Since there is no reputation system or monetary system it's full on madness in there between Rich and Poor. On these new platforms you can build yourself up by working hard and you can eventually have real influence! It's full 100% communism on the other platforms since you can't build yourself up there haha. Or well you can in a way but you have to sort of manipulate others that is the game.
Just as you sort of is saying hopefully SMTs can really increase engagement because it's clear that we notice that STEEM more works on the backside as electricity and how that will be harder to get access to in the future. While these new Tokens will be easier and more fun to get a hold on. Since you are part of something when it starts.
One of the best parts on Steemit of course is no weird 3rd party advertiser trying to boost something. But it will really be fascinating to watch companies becoming involved and be chatty with the community. They are currently just discovering Instagram, Facebook, YouTube and Twitter. But it's still very non personal communication since they don't really see the big point of it. But here with the underlying monetary reward system it really really makes sense to truly engage in a legit way!
Clearly one of the most fascinating things is the ability to rent out power in a safe way with no risk. Was shocked when I first discovered that. Truly a paradigm shift in how you can do business. Everytime I open up my traditional Bank everything is slow and complicated. This is just so much more smooth and I trust the currency so much more since I am personally involved more in how things are being developed and I can have a close look at things daily. Compared to these Fiat currencies where I have no idea what goes on behind the scenes. I also love the transparency here it creates a lot of trust.
Great news! Cannot wait to see how steemit will do in future.
Initially, I was against the use and creation of SMT's because I feared it would deter new users and hinder the retention rate for new STEEMpeeps. The more I read about them and am seeing what is actually being implemented, the more I am in agreement and now even, excited, to see them come about!
Glad to hear that. We would never do anything that would detract from Steem, but I certainly can understand the skepticism.
It is great to see a detailed update! It is also great to hear there will be a SMT Testnet in the future.
Click the Image Below to see the Video!
Another question answerd for me. Also vesting of SMT's sounds interesting, token diversification may be a good thing and competition is good for business. Superlinear account based voting will win in the long run.
That's amazing progress guys!!
Especially this:
I wanted to set up a RPC recently but @someguy123 warned me beforehand that 512 GB RAM would be sufficient for only a few more weeks.
But now ...
Curious when we will see phones with 32GB of RAM. I mean in theory you would be able to run a server on that right? But it may take some time to get there since I suspect that it draws a lot of electricity.
drive space on static storage wont last for the rewrites very long. nor easily hold the blockchain on telephony devices for now, its possible to frankenstein up an android to do it probably, but not wise, yet... then there's the bandwidth if not wi-fing it. Bet we can within two years tho. A small laptop could do it right now.
If there was a cell-net protocol to distribute processing on many cell phones you might be onto something, that I believe is done with malicious mining scripts now.
Yes yes yes. Actually, I just saw a protocol claiming 1million transactions per second. It's used for something else, but the first thought that jumped in my head was "Hmmm... telephone calls?" I got goosebumps. I wonder if one day there could be a blockchain tel-net or cell-net or something like that. You're right, some of the mining scripts already play with the distributed processing idea. Someone would have to be able to patch all of the concepts together.
Out of curiosity, are you able to specify the protocol?
I sensed a disturbance in the force, and suspect that actual decentralization beyond the ISPs and WWW providers might be potentiated were distributed servers nominal to directly network.
Little could do more to preclude censorship, commercial hijacking of content, or secure free speech.
Thanks!
I think it's the new credit protocol. But there's 4 others I know of clocking between 1M per second and 1M per day. Average of credit I think is 3 seconds. I have to check. But if you go check out my twitter at Maybornstar I retweeted a few. There's also 2 texting apps. I'm trying to monitor these for the same reasons. Lol
Thanks for a cool reply!
a blockchain on cellphones, now that would be decentralized
Waoh! Your comment sort of made everything clearer to me. This means less server bills. Cool!!
Steemit must be mainstream media. Thanks guys!
Can you give us some hints as to what will be in Hardfork 20? Are you going to change the curation algorithm?
https://steemit.com/steem/@steemitblog/hardfork-20-velocity-development-update
Omg, finally an update!
Yea , but no date on when smt will come out, more of the bs again.
Thank you for your update. It is nive to see that steemit is still growing with possibilities
this is very good news,
as a member of a recently set up witness called @swisswitness we had a full node on our roadmap somewhere but I will admit it was far in the future. This change in using RocksDB will bring this a lot closer to the present not only for us but for a lot of witnesses out there.
This will make running a full node at least an option for top 50 - 70 witnesses and not just top 30 ish. (very rough estimate)
We are currently only 114th in the ranking so anyone out there with some spare or unused witness votes:
https://steemconnect.com/sign/account-witness-vote?witness=swisswitness&approve=1
thanks @steemitblog / @andrarchy for the update
We just want to see good things. Keep them up!
This excellent piece of communication is what we all need to stay positive and hopeful. My circle knows I was upset with little progress but reading this post helps a lot. Early Q3 is not that far and there's a lot happening in SMTs space as well.
Best of luck to the core blockchain team. May you complete all your projects perfectly!
Thanks for the amazing update. I look forward to SMT's and the HF20. Keep up the great work !!!
Love to see this changes in the near future, in the meantime, in here for many of us is not a matter of time, so don' t rush guys and enjoy life, cause the Blockchain is growing in the way it shoulds and everytime I see one of your videos you look so stressed! ;)
Just enjoy the dev and keep on doing what you do...
At what point do you step in and start to correct the spread between SBD and Steem? 1 SBD is suppose to be the equivalent of $1 (USD) of Steem, if I understand it correctly. Yet it is currently at roughly $0.50 of Steem.
There have been a lot of discussions on this, but there is not yet consensus on what changes to make.
Thanks for this grea update @steemitblog @andrarchy and @ned !
Hope SMTs and Hardfork 20 happens asap. Many things will change for the good of Steem and Steemit by then!
Regards, @gold84
Why was you Payout denied? Just curious @steemitblog
This is the Official Account for Steemit Inc. and we prefer to leave as much of the Reward Pool as possible for Steemians! That's why we don't accept rewards on our posts :)
Content Director, Steemit
Ok, good to know. Following! Thanks....
Looking forward to StatsD. It's always fun to view statistical data. Looks like the Steemit team has been hard at work! The community can only benefit with hard working professionals accomplishing more goals from week to week! Thanks again for creating Steemit! I really enjoy this website and the engagement with fellow Steemians.
With RocksDB, what is the size of server where you begin to see the benefits? Does it improve the performance of a 2GB server or are the benefits only seen on a scale of 32+GB?
Keep up the good work :)
hii friends
I’m very excited about BlockOne and everything Dan Larimer has done for the blockchain community. EOS i’m All In!! Check out Dan Larimer’s interview here and please follow me as we will show you the throughput technology in real time and daily updates on how my organization is helping gentrify Los Angeles , pushing the homeless out into the suburbs and raise property values via crypto currencies and un blocking the chains!!
For any of you who feel pitty for my lil bro, DONT!! His life is probably a whole lot funner than yours...
This is a fantastic update.
we wait the best from you, as we give the best of us to this good proyect!
keep doing #steemitwetrust @steemitblog
Steemit Blockchain Team Update: AppBase, RocksDB, Bandwidth, HF20, SMTs, and more! has been resteemed by @resteemmuse
The future is quickly changing. Well done.
SMTs is the main key of this update I really love to read. Thanks for your works the best teams of Steemin Inch.
Warmest from Bireuen, Aceh Province, Indonesia.
@bahagia-arbi
A Steem and Fundition Ambassador
Well done!
Looking forward for the SMT's as i think they will be the beginning of Steem reaching the Moon!
Yeeey update!!
Great! We always appreciate a detailed update like this which only shows that a lot of work is being done in the background.
Cheers!
STeem to the moon!