Author Topic: Introducing BitShares Object Graph  (Read 14140 times)

0 Members and 1 Guest are viewing this topic.

Offline gamey

  • Hero Member
  • *****
  • Posts: 2253
    • View Profile
I've never understood smart contracts.  I hear examples but meh.  I just don't get it like I feel I should.  BitAssets at least makes sense. 

The other thing is that smart contracts will almost be a commodity while store of value is what will have more power in terms of marketing.

And if I want a smart contract.. why run it on expensive chain if there is suitable secondary choices ?
I speak for myself and only myself.

Offline toast

  • Hero Member
  • *****
  • Posts: 4001
    • View Profile
  • BitShares: nikolai
That guys post isn't saying that there's anything wrong, just that there's nothing special about it. And there really isn't. We're not actually using a proper graph DB.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline hpenvy2

  • Sr. Member
  • ****
  • Posts: 217
    • View Profile


Offline bytemaster

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

sumantso

  • Guest
BM - can I post the blog content itself in BTCtalk?

Offline kisa

  • Sr. Member
  • ****
  • Posts: 240
    • View Profile


because either Bitcoin prices will be flat, will go lower, or will go into another epic bubble.

Lol how else can price react ? : )))

One more possibility would be an increase albeit short of a bubble... not sure though this would make an environment less competitive than the other three mentioned scenarios :)

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile

Some questions:

Would the data be stored on the blockchain? Wouldn't that lead to blockchain bloat? Take the example of a Forum of linked Posts: Would all posts be stored on the blockchain? Or is it that only the identities, trust levels of identities would be stored on chain?

Since domain names and voting seem to be being built based on the bitshares graph database, would it make sense to say that the BitShares DAC consists of three parts: BitAssets, UIA, graph database applications?

The blockchain size does not matter.  Transaction fees will prioritize use.    Yes all data is in blockchain so it can be referenced by future scripts.
Ok, thanks. And do market pegged and user issued assets also make use of / build on this graph database? Or is it only VOTE and DNS that make use of it?

Offline bubble789

  • Full Member
  • ***
  • Posts: 91
    • View Profile


because either Bitcoin prices will be flat, will go lower, or will go into another epic bubble.

Lol how else can price react ? : )))


Offline luckybit

  • Hero Member
  • *****
  • Posts: 2921
    • View Profile
  • BitShares: Luckybit
groundbreaking and thought provoking!  +5%

u mistyped primtive btw.

Ethereum stuck to primitives or assembly.. And a double directed graph would cut down dev costs and ease of use on primitives.. however the million dollar question is: Is there a case you can think of where you would not want to use a graph but use primitives to solve a problem?

I guess vitalik assumes others will build on top if there is a market todo so while we give a leg up on beginners to solve problems quicker but if its a subset of problems then there is a case for primitives or assembly still.  That is when will flexibility of primitives be needed in this context where a graph wouldnt work for a layman?

It's also possible that Vitalik simply over looked this. Building something like Ethereum is hard but I think if you're going to build a scripting language you need to make it high level. Right now they have scripting but as a person who can read several programming languages their scripting is awkward and low level.

I think now that they have the resources the Ethereum team should make a scripting language as much like Python or Javascript as possible. You want something which has minimal syntax for people to learn and which is powerful enough to do the job. Python is good as a scripting language because it's powerful but the syntax is very simple.

Serpent is supposed to be like Python and it's getting closer but it's not quite there. I think the competition between Bitshares and Ethereum should be on making it easy to develop for. Whichever DAC is easier to develop for will certainly win over my attention and I would think most people who aren't rock star developers at the same way.

C++ is not the language people will want to mess with when dealing with people's money. Javascript on the other hand is easy and so is Python. If it is easy people will feel confident enough to write code and if projects can be completed in weeks instead of months people will be more likely to make time to do it.

They have serpent and solidity working and full IDEs in development. We will not beat them as a smart contract platform unless we outgrow them first. More likely we will just pull in their VM once both of our systems are more mature.

We are basically all-in on BitAsset adoption and very basic financial services.

If we are all-in on bitassets then shouldn't our priority be to get the protocol stable so we can launch 1.0 and have no further hard forks a for a long time? Only then will we be able to get gateways, our biggest priority.

We already have the killer app, but it's super difficult to get hold of because gateways don't want to integrate with us because our system is still unstable. I think we should have just focused on getting the last UIA changes implemented, and then only focus on UX for the next 6 months for the amazing products we already have. We don't need scripting in the short term, there's not any evidence in the market that it's actually profitable or useful, only hype.

I dont think we should be beginning on working on even more complicated stuff now if it doesn't actually give us any marketing advantage over ethereum. It makes no sense from a business perspective. We need to get our product ready, and then launch it.

I didn't say right now but I'm talking after 1.0. I think 6 months is perhaps a lot longer than you think it is in this hyper competitive environment so I'm worried Bitshares will not be flexible enough to adapt as quickly as Ethereum.

It looks right now like everything will be okay but at the rate things are going anything could happen in 6 months. The plan to go all in on BitAssets in my opinion means everything is going to ride on the marketing team. If the marketing team is successful then Bitshares will become self funding and will be able to hire whatever developers it needs but if not? If marketing fails or if Ethereum wins out on marketing there will be problems.

Right now I'm on the fence. So far Bytemaster and Stan have been wise in their decisions and everything has turned out alright. Things are going to get hyper competitive in 2015 though because either Bitcoin prices will be flat, will go lower, or will go into another epic bubble.

I assume this is one of the final pieces before we have the final 1.0 protocol. Am i right?

Scripting wasn't planned to be implemented in 1.0. This is also just the data structure and wont actually mean that scripting will be functional according to toast. Dont understand why its being put on the testnet but maybe only some of the devs are working on finishing off 1.0 while others are already working on the future updates. I guess that is a good sign meaning that 1.0 will be here relatively soon, probably end of jan.
What i wanted to say was these were the last few changes to the protocol before 1.0

I completely understand the strategy. It's just risky.

I know we need protocol stability so that greater adoption from Gateways can increase the utility of the platform. What I don't know is whether or not the increase in utility will result in an increase in market cap and in transaction volume. It's possible to have the best platform and still people might go to stuff like Ethereum or Counterparty due to politics, or just the charisma of Vitalik and Patrick.

I hope Bitshares is a success though because I have a stake in it.
« Last Edit: December 26, 2014, 03:32:27 am by luckybit »
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline bubble789

  • Full Member
  • ***
  • Posts: 91
    • View Profile
I assume this is one of the final pieces before we have the final 1.0 protocol. Am i right?

Scripting wasn't planned to be implemented in 1.0. This is also just the data structure and wont actually mean that scripting will be functional according to toast. Dont understand why its being put on the testnet but maybe only some of the devs are working on finishing off 1.0 while others are already working on the future updates. I guess that is a good sign meaning that 1.0 will be here relatively soon, probably end of jan.
What i wanted to say was these were the last few changes to the protocol before 1.0

Offline bytemaster


Some questions:

Would the data be stored on the blockchain? Wouldn't that lead to blockchain bloat? Take the example of a Forum of linked Posts: Would all posts be stored on the blockchain? Or is it that only the identities, trust levels of identities would be stored on chain?

Since domain names and voting seem to be being built based on the bitshares graph database, would it make sense to say that the BitShares DAC consists of three parts: BitAssets, UIA, graph database applications?

The blockchain size does not matter.  Transaction fees will prioritize use.    Yes all data is in blockchain so it can be referenced by future scripts. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile
Some questions:

Would the data be stored on the blockchain? Wouldn't that lead to blockchain bloat? Take the example of a Forum of linked Posts: Would all posts be stored on the blockchain? Or is it that only the identities, trust levels of identities would be stored on chain?

Since domain names and voting seem to be being built based on the bitshares graph database, would it make sense to say that the BitShares DAC consists of three parts: BitAssets, UIA, graph database applications?


Offline lovejoy

  • Sr. Member
  • ****
  • Posts: 431
    • View Profile
    • Cryptofresh
  • BitShares: lovejoy
http://bytemaster.bitshares.org/article/2014/12/24/Introducing-BitShares-Object-Graph/

Awesome!  (as in I am filled with awe)

Although some of the technical details are lost to me the conceptual implications are scintillating!

I think we just went to Crypto 3.0. :)

^^^  8)

Offline Rune

  • Hero Member
  • *****
  • Posts: 1120
    • View Profile
I assume this is one of the final pieces before we have the final 1.0 protocol. Am i right?

Scripting wasn't planned to be implemented in 1.0. This is also just the data structure and wont actually mean that scripting will be functional according to toast. Dont understand why its being put on the testnet but maybe only some of the devs are working on finishing off 1.0 while others are already working on the future updates. I guess that is a good sign meaning that 1.0 will be here relatively soon, probably end of jan.