Wrapped Hive (Engine) update & MinnowSupport Witness Vote Application

in #witness-category27 days ago (edited)

Wrapped Hive (Engine) Updates
&
MinnowSupport Witness Vote Application

social_hive_light.jpg


Hello, it's been almost 3 weeks since the re-launch of my witness, and here are some news & updates since then.
This post is made of 2 parts, one is an update on the progress of Wrapped Hive & Wrapped Hive Engine tokens development. The second one is the application for witness vote by @minnowsupport project.

Decentralized Wrapped Hive

Development of decentralized Wrapped Hive is going as planned, smart contract that will handle multi-signature on the Ethereum side is almost complete. For validator nodes, a P2P system is also being developed.

Team: @ederaleng, @chrisochuko, @fbslo

We also need some community feedback. We will probably create a DAO proposal for ~50k HDB after work is done to pay for dev costs, security audit, and liquidity provider incentives. Would you support it?


Wrapped Hive Engine Tokens

I rewrote the entire Wrapped Hive oracle code to be compatible with Hive Engine tokens (without any dev work). Previous versions (e.g for wLEO) all required manual code updates, smart contract deployment, and server setup, so it could take hours of my work.

Here is a list of updates/changes:

  • Frontend is separated from the backend
  • Smart contract now has a dedicated convertToken function, no deposit addresses needed anymore.
  • Oracle support both mint and transfer methods of wrapping/unwrapping tokens (so it's possible to create a limited amount of tokens and store them in a cold wallet).
  • Chain data is now received directly from nodes, no more 3rd party APIs
  • No more MongoDB database installation, app now uses LevelDB (so extra setup needed)
  • Fully customizable, just edit the config file
  • If there will be demand, I'll offer "frontend-as-a-service", so I will host frontend for a small fee (5 HBD/month).
  • Price: FREE (excluding eth fees, server...)

Code will be available for review on GitHub this week, but fully released next week (in no major bugs are found).


Centralization vs Decentralization for wHE tokens

One thing you might ask yourself is, why am I spending all this time on updating centralized oracle when I could work on a decentralized one.

While decentralization is the best way for HIVE, LEO, and other tokens with a big community, there is a risk that comes with decentralization. There is no one to protect the network besides the community.

Since wrapped Hive will use Proof of Stake, small tokens without enough voting could be attacked, and only one block where honest validators are not in majority is enough for all wTokens to be stolen. So it's actually safer for them to be run by one team.

MinnowSupport Project Witness Vote Application

MSP witness voting announcement

What are you pledging to do to support the Hive Community?

I am a developer of some tools and apps:

  • wHive and wHE tokens (see above)
  • @postoken bot - GitHub
  • Creator - GitHub - It's an open-source app that allows anyone to host an account creation service. While the app itself didn't get much attention (only one person using it as far as I know), API for creating an account was added to HiveOnboard.com to solve scalability issues.
  • Sharer - GitHub - Sharing links on the chain!

What are you pledging to do to support the Minnow Community?

Apart from the projects listed above, I'm actively curating minnows, giving away free delegations, Twitter giveaways to promote Hive (follow me @GPujs on Twitter)...

Witness update

  • Rank: 91
  • Active rank: 84
  • Registration fee: 3.000 HIVE
  • Block size: 65536
  • Version: 1.24.2
  • Price feed: every 6 hours

If you think my work is valuable to Hive, please consider voting for my witness.

How to vote:

@fbslo

Sort:  

Will do!

I would vote for the proposal and have already voted for you as a witness. Keep doing what you do boyz/

Yes! I will support your project!

Posted using Dapplr

Sure, I will support your project.

thanks so much!

Would you support it?

I did swap my wHive to Hive recently. Didn't see the sense to remain and considering wLeo hack I felt endangered. Will I support? I will, you have my vote.
Maybe even will join and provide liquidity.

I would support the proposal.

Would support the proposal for sure. 50k HP

I will support the DAO proposal, of course.

A question related to your tweet - which datacenter are you using?

!invest_vote

I use https://inxy.com/, since prices are similar to Hetzner, but they accept BTC and ETH (and I'm banned from Hetzner and PayPal) + their customer support is amazing. They are resellers, so my server is hosted by Server4you (datacenter located in France, Strasbourg).

Once Hive price recover or I get higher up the witness rank, I will switch back to Privex or some other provider, since I had 2 issues in the last 2 months. But it's hard to pay for high-end servers with $3.3 per week.

Thanks for info. This is really cheap.

I still haven't taken time to setup a server. I guess I'll go with Oracle Cloud for a month to learn the ropes first. Then I'll decide whether to continue or not...

Are you using MIRA?

Earning are quite low with this hive price, you need to be in top 60 just to break even (with cheap server).

About MIRA, I'm not using it, since the latest HF it should be cheaper to run & faster to replay witness node without MIRA. My server is using a little over 16 GB RAM.

Thanks. Yes, I am aware that I would need to campaign for votes to get as high as possible on the witness list to cover the expenses. Or do it for fun and to learn :)

So, MIRA is in the past. Good to know.

Well, you have my vote ;)

Thanks in advance.

You know that some two years ago I did the list of possible / probable votes to see if it's feasible to create a witness node. And then the life happened and priorities were changed. Maybe now it's a good time to repeat the exercise :)