Wrapped Hive (Engine) Updates
MinnowSupport Witness Vote Application
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.
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
convertTokenfunction, no deposit addresses needed anymore.
- Oracle support both
transfermethods 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
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?
- 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: