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RE: Implementing a Truly Decentralized Solidity Smart Contract Capable EVM (Ethereum) Side-Chain to HIVE and the Future Decentralization of the Hive.Loans Chain Moving Forward.

in #hive-dev4 years ago

You're thinking of public chain settings using standard release builds where anyone can come in and do POW hashing provided they have your network ID. The HSC isn't going to provide that ability one in part because the EVM executable itself is going to be a heavily modified instance that won't even be able to understand classic ETH clients and also because there are ways to mitigate the advantage that having a large amount of hashpower will yield miners depending on how you configure the chain to select block miner. It's doable to have a properly decentralized private EVM chain setup between PoW users without favouring hashrate and by going this route by the look of it we should be able to avoid a lot of the classical failures of small PoW networks.

You can avoid politics if you make it trustless and human interaction completely optional. Because HSC v1.0 will actually serve as a means of burning HIVE rather than adding to inflation I think you'll see that it ends up actually attracting more decentralization as mining clients become available allowing even low power devices the chance to hash blocks to earn some HIVE which comes from the gas fees paid in HIVE.

I'm not making anything DPOS on this sidechain.. There isn't going to be a risk of 51% attacks or lots of the other classical ETH downfalls due to the EVM binary itself changing to a point where it can't be directly compared to existing popular EVM capable chains. It's going to be of based around an already existing chain with it's own set of rules, It merely adds more ways to utilize your HIVE, but not a free transaction like base layer chain operations.. You pay the sidechain to pay the miners to mine the blocks to do your decentralized function call or whatever. It all runs on HIVE, the total HIVE token cap is slightly reduced by burning some percentage of the gas fee to @null. Most goes to the miner of that block then a sustainable amount goes to a developer fund for future R&D.

DPOS used to be qutie strong in my eyes but Sun Yuchen totally spooked me off it being bulletproof. :/

Yeah. In the event that HIVE gets taken over again we just fork and do our own thing again.. :(

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It's doable to have a properly decentralized private EVM chain setup between PoW users without favouring hashrate...

Now you peaked my interest, it will be very interesting to see how the game theory plays out which such a design. Thanks for the detailed explanation.

No problem! You certainly raised some very valid points though for anyone just going in and cloning ETH without much thought to how it needs to operate given it's determined goal. Much appreciated!