I am also looking forward to HSC. I wonder if there will be any fees at all or will we see it based on RCs. I honestly would prefer RCs but I understand putting in a small fee. The only problem with the fee is that it would also make the price go up with the number of users. This means we might be in the same situation as ETH or BSC in the long run.
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There will be fees but they will be in Hive.
The block validators will be different from the Hive Witnesses and, without a token for the blockchain, payment will have to be from fees.
It will be a lot less than Ethereum and be much more decentralized than BSC.
That according to @klye at least. We will see what he ends up coming up with.
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We'll be using a Bonded Proof of Stake consensus mechanism that requires users to bond or powerup their HIVE on the Hive Smart Chain to a certain amount to have their account unlocked for staking. They'll also have to run an HSC node as well.
This will allow basically anyone to be a witness, provided they have some stake in HIVE and in HSC. SHould be good. Even though my proposal funding got cut still very much working on it.
I wish you the best of luck while you work on it. I saw quite a few proposals get cut due to the increased funding cutoff being increased. HIVE SQL was also impacted.
I don't know if I want to run a HSC node so I guess I will just be a consumer and not a staker.
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That is perfectly fine if you're not interested in running a node. We'll have all sort of stuff available on the side chain for everyone to do in time. :)
Is this required to just use the blockchain or only for block validators?
Perhaps I am a bit confused.
I think it great that anyone can be involved in the governance/operation of the chain. That is great. But to use it, we need to have some Hive powered up?
If that is the case, another wonderful sink you are creating @klye.
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Only for validators.
users won't need bonded stake to use the chain
I am glad to read that you are still plowing ahead and getting things in order with it.
This is vitally important to Hive although I dont think most realize it.
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Sorry to hear about the proposal. I'm very new to the whole blockchain stuff but if there's any way a regular joe can help, just let me know!
Really excited about this project
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