It's kinda like the bitcoin lightning network... but it uses steems escrow transactions to hold capital, allowing much more complex transactions than payments. Such as feeless auctions. :)
Yes, there are some meta-chain aspects with the CMS. DLUX itself is absolutely a side-chain. Queuing nodes to approve or release escrow, transfer steem and sbd, and running smart contracts is what i was referring to as the lightning network... a group of participants that elect themselves to sign processes to facilitate trade. Still multi-sig, just ad-hoc.
Cool! It's minimally federated. My eventual plan is to give the @dlux-io node it's own github keys so it can sign PRs via consensus in smart contracts... all the processes the individual node signs don't effect governance in any way(and there are no protections to keep @dlux-io in the runner group)... and except for resteem rewards and delegation rewards everything is done via vote/participation. If those go away I don't believe it would be any more federated than any other consensus algo.
Yes. DEX trades use escrow to lock capital. Any contract that gets purchased will have an information symmetric transaction to use as collateral. If its a steem/sbd ask for dlux that transaction requires collateral to complete. The collateral amount is moved to limbo while the node issues the steem transfer to the winner.
The CMS system allows you to run a node that serves private content to authorized users. So people can have subscription services ... and also get paid to run the server.
It's kinda like the bitcoin lightning network... but it uses steems escrow transactions to hold capital, allowing much more complex transactions than payments. Such as feeless auctions. :)
Not really. It more like a sidechain with a mix of metachain material.
Yes, there are some meta-chain aspects with the CMS. DLUX itself is absolutely a side-chain. Queuing nodes to approve or release escrow, transfer steem and sbd, and running smart contracts is what i was referring to as the lightning network... a group of participants that elect themselves to sign processes to facilitate trade. Still multi-sig, just ad-hoc.
That not the LN...
There are no groups of participants that elect themselves to sign processes to facilitate trade in the LN.
That is a Federation Sidechain.
https://medium.com/@BHBnetwork/liquid-the-first-commercial-sidechain-based-on-strong-federation-e39f3cc7cb6
The LN is a meshnetwork of diff rules that all agree on basic principles. Yes LN is multisig but LN uses Payment channels which DLux does not.
The proper term of what your are proposing is a Federated Sidechain (with Metachains properties).
Cool! It's minimally federated. My eventual plan is to give the @dlux-io node it's own github keys so it can sign PRs via consensus in smart contracts... all the processes the individual node signs don't effect governance in any way(and there are no protections to keep @dlux-io in the runner group)... and except for resteem rewards and delegation rewards everything is done via vote/participation. If those go away I don't believe it would be any more federated than any other consensus algo.
Hey.. It's late tonight.. but I want to ask you about an smt.
Whatsup?
So you are locking up STEEM in an escrow and issuing certain amount of DLUX proportional to the STEEM in the escrow ?
Yes. DEX trades use escrow to lock capital. Any contract that gets purchased will have an information symmetric transaction to use as collateral. If its a steem/sbd ask for dlux that transaction requires collateral to complete. The collateral amount is moved to limbo while the node issues the steem transfer to the winner.
Ok. IMHO, few diagrams or infographics will be helpful
The CMS system allows you to run a node that serves private content to authorized users. So people can have subscription services ... and also get paid to run the server.