@yabapmatt and I, in partnership with @harpagon, are launching a platform and accompanying website called Steem Engine (https://steem-engine.com) with an initial focus of allowing the creation of custom tokens on the Steem Blockchain.
Smart Contracts on a Steem Sidechain
Steem Engine uses the Steem Smart Contracts software, built by @harpagon, which is a smart contract enabled sidechain platform built on top of the Steem blockchain. Initially we're launching with a limited set of smart contracts enabled which allow anyone to easily make custom, simple tokens on the Steem blockchain.
It will also "soon" include an internal market, very similar to the existing STEEM/SBD market, to allow all tokens created on the platform to be traded against STEEM. Special thanks to @asgarth for help on the market user interface design and development shown below. Testing on the market has already begun.
We hope that the ability for apps to use Steem for their token sales rather than Ethereum or other similar platforms will drive demand for the STEEM token and allow many apps and dapps to migrate and raise money here before the SMT platform is ready.
Standardizing Tokens on Steem
Currently many Steem projects are setting up their own temporary tokens using various different methods, while waiting for the mythical SMTs. We think it will be very beneficial for both token creators and token holders to have all of that be in one place, working in a standardized way, with a robust toolset.
One of the biggest benefits to token standards like ERC-20 is that any app, wallet, exchange, etc, only has to do one integration and then they can support any token using the standard. We would like to do the same thing for Steem tokens. Once any app, wallet, exchange, etc integrates with Steem Engine, they can instantly work with and support any of the tokens created on the platform.
Currently with Steem Engine, users can easily see what tokens are available, view balances, and make transfers right from the Steem Engine website] as well as the Steem Keychain and very soon the Steem Plus browser extensions.
Steem Engine tokens vs SMTs
We want to clarify that Steem Engine Tokens are different than Smart Media Tokens (SMTs) currently(?) being developed by Steemit, Inc. SMTs will be tokens that are native to the Steem platform and their transactions will be validated by the same software which currently runs the Steem blockchain.
Steem Engine, on the other hand, will have all transactions posted to the Steem blockchain, so that they will all be available on a public, immutable ledger with deterministic, consensus-based transaction ordering and finality, however the validation of the transactions will be done by a separate piece of software (the Steem Smart Contracts software created by @harpagon).
Just as with the Steem software, the Steem Smart Contracts (SSC) software is free and open source and anyone may run their own SSC node and independently verify the transactions and query the current state of the system.
Advantages of Steem Engine vs SMTs
SMTs are planned to have a certain, fixed set of smart contracts implemented which are very similar to the ones currently in place for the native Steem blockchain tokens revolving primarily around content publishing and reward distribution.
On the other hand the Steem Smart Contracts platform, on which Steem Engine is built, will allow arbitrary, custom smart contracts to be published, similar to platforms like Ethereum and EOS.
While it is our ultimate goal to allow anyone to publish their own smart contracts to the platform, in the meantime the software is set up such that only the @steemsc account, controlled jointly by @harpagon, @yabapmatt, and myself, is able to publish new smart contracts.
The point being that it is possible to publish custom smart contracts to the platform to allow token and dapp creators to build things that will not be possible with SMTs. If you would like to create a custom smart contract on the platform, please get in touch with us on the Steem Engine Discord and we'll work with you to get it up and running!
Roadmap
We can provide more detail in the coming weeks, but right now we're focused on:
- Improving the Steem Smart Contracts platform
- Launching the DEX for trading tokens against STEEM
- Building tools and interfaces to support common types of token distributions
- Putting in place a legal services division which enables dapps to incorpate and register a Reg. D security token offering in the US which allows up to $5M/yr to be raised, including from a limited number of non-accredited investors, in a fully legal and compliant manner. Some restrictions apply.
We expect major progress on all fronts in February and through the end of March.
We’re ready for you NOW!
We’re executing our soft launch right now! If you run an app it’s time to create your token on the platform! This starts immediately!!
We have a full public launch planned in the next few months, which will include a PR campaign to get the word out inside and beyond the Steem community.
If you have a token for a Steem-based project, or are considering creating a token in the near future, please get in touch with us about launching on the Steem Engine platform. We can coordinate marketing efforts and get the word out together!
Let’s get started tokenizing the internet TODAY through the Steem Engine platform, built on top of Steem, and supported by websites and apps you run.
Happy to answer questions on getting started.
Holy sweet merciful crap. You guys did it. This is sick. I am still laughing at the innuendo on the Steem SMTs.
Magic Dice has rewarded your post with a 24% upvote. Thanks for playing Magic Dice.
@magicdice is a scam that used an insider who farmed the vast majority of their MAGIC Tokens via an insider deal and reaps over 25% of the daily dividends due to this deal. They are not to be trusted.
Excellent spam. Well worth $1.21! The blockchain rejoices.
Show me where else I've posted this same gif!
Who said anything about posting the same gif?
You're a spammer and you know it. Waste of blockchain resources. Muted!
lmao!
i agree but imagine when the Ai executes people in the future "You are a inefficient allocation of the blockchain resources, executed" lol so cold man
Imagine all the SteemMonsters cards he can buy off that!!!
This is potentially very exciting for steem. I wish you guys the best of luck with this!
Thanks for you guys hard work providing an option for Steem dApps :)
I have two questions.
Firstly, on the steemsmartcontracts repository, it says
features are on the roadmap.
Does that mean only Steem-engine team (a central server) is able to create blocks on the side chain and others can only verify them at the moment? How is the timeframe for P2P / Consensus features get implemented?
Secondly, is it possible for Steem-engine tokens to be listed on major exchanges in the future? I guess that's only possible after P2P / Consensus layer gets implemented, and the consensus (maybe using ENG token staking) should be distributed enough so it won't get 51% attacks?
Some notes from @harpagon
"we are not the only to be able to run a node, but without the consensus layer, we are, I guess, the most trustable one
the tokens can be listed a conventional exchange, as long as this exchange has a Steem account
the tokens will be held by the Steem account (and then the exchange will have it's own ledger, trade history on it's side, like binance does with Steem/SBD for example)
but yes, all that requires to have a trusted network of nodes"
We're tentatively expecting the p2p/consensus layer to be done in the march/april timeframe (crystal ball is brand new here)
i had no idea we were ok to use witchcraft in steem!
i had no idea the business world was this cooky and silly lol
i love this idea tho and a crystal ball isnt witchcraft, atlanteans were using crytal spheres i mean its justa a sphere
hey 9 months later you did pretty good aggroed!
9 months in can you give me a 3 sentence assessment of how well you think you did? and what you wish you had now?
I feel liek we are still needing a network of ENg nodes? We can have that with eosdac eos eng :)
i also wanna have some system of ENg nodes im sure you guys have that planned, like steem based ENG nodes that you can stake like 1000 or 10,000 nodes
wait is ENG miner that?
hehe im so stuck in POW world sometimes :D I forgot you have Engine Miner and EM4...
I guess what I really want is for @vessel or my fork @fireboxwallet to have stem engine in vessel
I join the question - is there also a point to join newcomers ??
@aggroed and @yabapmatt
The first user has already issued one million STEEM and one million SBD tokens. And there are BTC too. Wouldn't it be advisable to restrict the namespace for newly created tokens?
reminds me why i joined steem and fell in love with this place!
honored to be a part of this amazing community and CAN’T wait for steem engine to set the bar. this is gonna be awesome.
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estas en lo cierto amigo para mi esta red steemit es lo mejor que e visto actualmente en este año saludos desde vnzla
Igual yo amigo. Esto es genial. y lo que viene sera mucho mejor
I created 2 coins, issued millions to various community trusted accounts, and never saw a bug the entire time.
@wafrica and @artzone salute you all!
Rock Stars of Steem, TY!
The Steem pioneers have blazed another trail into the future of cryptocurrency. It is truly amazing how a relative few people with
a common cause can accomplish such truly great achievements.
This can only signal the inevetiable increase in the value of Steem.
I have to say, I WHOLE HEARTEDLY AGREE!
The future of the INTERNET IS HERE.
I know it when I see it, I been calling it for decades and this is IT>
Its a great development and am happy about it. I created account with Steem Engine and bought 5,000 ENGs for a trial mine of tokens for my Steem-based project to be unveiled soon. THis is one of the best things that is happening to this platform. Thanks to @yabapmatt @Aggroed and @harpagon for this. Posterity will not forget you.
It remains to be seen if ENG will be a good investment but I thought it was worth a try to create tokens.
Great app, bug free in my extensive testing...
Oh hell yeah! Been waiting for this announcement!
@jongolson and I got on-board with this project as soon as @Exyle told us about it a few days ago. No hesitation on our part, we created a token within the hour and want to support this in any way we can.
Like so many, SMTs is what first attracted me to STEEM. Since that option seems to be somewhat vague in it's potential release, this is an outstanding 'community generated' response that allows us to move forward.
Let's ROCK us some @steem-eng !
Building the STEEM blockchain with Savvy solutions!
Smart Contracting on Steem. Great stuff. I call this the Steem Renaissance. This help the community best see the power of graphene technology how it was architect from the beginning. SSC software will also help design different contract that SMT may not suit for. Wit the Steem WP coming in these are type of things the community will be supporting to advance Steem, due the propose inflation proposed in the WPS. Congratulation guys. Loving it already.
This is great work!
I'm quite interested in using this platform for the tokens for @jpbliberty's Class Action against the Crypto Ad Ban.
I had been planning an ERC 20 token but now am so involved in Steem and if this is easier to create the simple burnable token I need then this is great.
Awesome. Can't wait to see which apps jump on this - so many have been waiting and maybe this fulfills their needs :-)
I have had a pilot of my own sidechain (more a parasitic chain writing its ledger into a custom steem JSON) SMT running with a discord wallet since january 2017, just I failed to make hype, and raise awareness, but Venezuelan community has tested and benefit from it.
I wish you the best !
With all this backing it will make reality many of us dreams.
wow this is good!
love you this post & reminds me why i joined steem and fall in love with this place!
honored to be a part of this amazing community and CAN NOT wait for steam engine to set the bar. this is gonna be awesome.thank you
This is so awesome! Great news for the Steem blockchain :) We needed this!
Another brilliant technology coming from the geniuses of the steem blockchain.
A year more and we will truly be on the top 10 of the trading market.
Posted using Partiko iOS
Larger spam next time, please! Full page perhaps?
Will steem-engine have a built in token blockexplorer type thing? Where you can you click any token on the list and view it’s issuance and transaction history? I think that would be cool :)
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Great project.
Count me in.
Do you need any launch marketing, promotion support?
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Awesome. I hope this has some serious implications for Steem monsters such as using the the Steem engine tokens to rent out card decks and things like that.
@aggroed, sounds like you've got the knowledge and team to make this happen. I'm very interested in smart contracts. Let me know if there is anything I can do.
Sounds promising! I'm holding on to my STEEM!
Loving the "soon" in the announcement. Great work, hoping this is going to put some pressure on Steemit Inc. for their SMT as well.
That's what makes me most excited... a PR campaign is something I never see on Steem. So that's cool. Wishing most success on that!
@aggroed, @harpagon, @yabapmatt... I love the project and love your teamwork. Teamwork makes the dream work. The only problem that you will have is the basic comprehension of the newer people to crypto understanding what a token is. 90% of the people out here don't understand what a smart contract is, or that a token equals the value of something else, mirroring shares to a company in the fiat world.
I suppose you guys already know this. You're going to get 100k tokens made, equaling nothing. You guys should do a Crypto University and they should get a certificate or something before they are allowed to create any token...otherwise, we'll have 1000 grifters manipulating the Howard Test (just an example) & conning the public with worthless tokens again because 90% of the people new to crypto, just don't really know what the term "token" really means.
You guys are already the rockstars of the Steemit world, I guess I'm asking you to also become the professors, otherwise too, the Steemit blockchain will implode with greed and ignorance.
You guys keep me motivated with your innovations, and for that, your time is appreciated more than you will ever know. Thanks guys, yall rockstars.
I have a Question on ENG Token:
Looks like only ENG token can be purchased. I saw the issuer is @null.
Is STEEM burned for every ENG bought?
You have this a little backwards. When tokens are created we sent the ENG to @null. Essentially ENG is burned every time you make a token. The steem goes to the @steemsc account.
Thank you for the clarification. 😉
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Awesome project. I made a token for fun to support you're great work and I see it being a great thing for communities.
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If making tokens for fun supports their work, shouldn't everybody make a few tokens?
Giving them 100 steem to create their own token isn't a bad idea. The communities will decide if they are worth anything. It's a free market.
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Gotta love free markets.
Awesome, very excited to try it out, thanks for the hard work!
Cant wait untill we "Start tokenizing the internet Today through the Steem Engine platform" There has been so many stalls, over a year late for the all ready long awaited SMTs , im so glad to see this happening! *Keep up the great work team awesome! @yabapmatt , @aggroed , @harpagon ! Things are finally looking up for the platform!
I currently have 3 different tokens im saving up: Appics , Steemhunt , Partiko.
upped and resteemed
@aggroed ok, THAT's what you've been working on. As it happens, I'm in the 99th percentile of Europeans knowing about crypto legal (though not a lawyer, god bless). So happy to help w/ roadmap step 4 on our side of the pond.
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Finally, RedfishSMT will be made here, for Redfish rank on Steemit!
Good job!!
Posted using Steeve, an AI-powered Steem interface
I love this market! I release my own token (CABAL / Cabal Coin). Tradable for items on my store at http://www.cabalc.com, backed by Paypal buybacks. Here is my white papers.
https://steempeak.com/cryptocurrency/@cabalcoffers/cabal-coin-cabal-white-papers-release-and-air-drop
Do you think there are advantages that SMTs will have vs Steem Engine Tokens, or is this a play to overshadow/dissuade people from considering SMTs? I'm noting the wording like "mythical SMTs", which is a wording that points toward a competitive attitude toward SMTs.
I can't log me in :(
We're making money out of thin air!!
I love it, but the name may confuse some people because I think there are other services/communities called SteemEngine on the blockchain already....
Here’s one:https://steemengine.net
and here’s another: https://steemit.com/@thesteemengine
But regardless this is awesome. Amazing progress being made!
Posted using Partiko iOS
Edit: looks like you’re right! IMO whatever app gets traction first wins!
haha I think that is a whole different steemengine project all together! so looks like there is more..... I personally like the ring of steemmachine :)
or steemshovel...since they're shoveling steem. LOL
I like steemmachine as well!👍👍👍❤
Haha you’re right! I was wrong!
They should get something like: steemexchanges.com or steemmarkets.com or steembrokers.com..... many more imm though, don't know if it looks good or not lol
I like the name ;) lol
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Well let's be honest... it was bound to be a popular name. Lol
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I love this enthusiasm to push projects forward. My Token is SERUM. Thank You!
This is very interesting and exciting, @aggroed. I cannot claim to really understand the technicalities but I do get the gist. I am calling @jaynie and @zord189 from the #PowerHouseCreatives (formerly known as @steemitbloggers to have a look at the concept of a customised token on the Steem blockchain could be of interest to that group).
Similarly, @algo.coder and @onepercentbetter who are behind the @share2steem app will find this of interest.
This post has been resteemed from MSP3K courtesy of @aggroed from the Minnow Support Project ( @minnowsupport ).
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not
Well this is exciting! I can’t wait to get home from work and play around with this
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You just got some BEER token.....
Wooooooohoooo I hope the local brewery will accept it soon
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Awesome project gets me excited about whats to come for the Steem ecosystem.
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I made a coin, can you give me a heads up as to what is required to make my own wallet to store them off the steem engine site please?
The tokens aren't really stored on the steem engine site, just like your STEEM is not stored on steemit.com. They are stored in your Steem account. If you want to build your own wallet it would just be a Steem wallet that can also broadcast the custom_json transactions necessary for steem engine tokens. If you're interested in doing something like that you can contact us on Discord.
Thank you for the reply, I do not do disco anymore though. But thanks all the same.
This is really important for steem, I think time will show the significance of this for sure.
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!gif Alright! I cant wait to see what value this brings to our blockchain!
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This is awesome! I will look into it some more 😀
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