Dear Bitshares Community!

Recently OpenLedger has introduced OpenLedger mobile wallet: (https://itunes.apple.com/by/app/openledger-dex-mobile-wallet/id1436296915, https://play.google.com/store/apps/details?id=com.openledgerpurern).

We believe that Bitshares needs its own generic opensource mobile application and we offer to share our solution with the community, and develop it further to deliver a mobile app for iOS and Android containing a rich set of features.

Short overview:
 1. React Native based cross-platform application.
 2. iOS and Android platforms supported.
 3. Support both login models: Wallet and Account.
 4. English, Chinese and Russian languages support.

Phase 1 (Duration: 6 weeks, cost: 50 000 bitUSD)
A fully operational mobile apps with multi-language support (English, Chinese, and Russian versions are available out-of-the-box). It will have the following functionality:

→ Sign-in Process:

• Two user login models: Wallet and Account;
• PIN or fingerprint authentication;
• Easy synchronization with an existing BitShares account by scanning a QR code.

→ User Account Screen:

• User’s assets list;
• Balance per asset;
• Total account value in the base currency (can be changed in the Settings);
• Assets search;
• Show/Hide assets with zero balance.

→ Available Operations:

• Send;
• Deposit;
• Withdraw.

→ Open Orders;

→ History of transactions;

→ Settings to tailor the app according to users’ preferences and ensure a great user experience.

Phase 2 (5 months)
New features will be added:

• Trade/exchange;
• Multiple account support;
• Favorites (accounts and assets);
• Order placement;
• Open Orders filtering;
• Market;
• Collateral settlement (margin position, settle asset, margin ranking);
• Dynamic auto-complete search;
• Push Notifications.

Why Vote for OpenLedger?

• A proven track record of developing blockchain solutions, including BitShares-based products;
• A fully operational open-source mobile app for iOS and Android with a free and open source code in just 6 weeks;
• All features described in the OpenLedger’s Worker Proposal will be available in 6 months;
• There’s our own BitShares-powered mobile app in place. It is already approved by iTunes and  Google Play. The proposed app will have the same functionality after Phase 1.

Vote for us today: openledger_mobile_apps_ph1 and openledger_mobile_apps_ph2 worker proposals!


Here you can find detailed proposal outlining the scope, costs and timelines:
https://drive.google.com/file/d/1-Yv_gz-E3WEfHVTNnU0tzVYjIKA13t76/view?usp=sharing

Please feel free to ask your questions and provide comments, your opinion is very important!

Dear BitShares community members,
 
While the best minds of the community are doing their best to find new options to expand BitShares adoption worldwide and add more business use cases, the OpenLedger team just cannot stand still.

We’re proud of our previous work, and now we have come up with another big feature that can bring thousands of businesses to the BitShares ecosystem: on-chain smart contracts.

We all know that BitShares is the nearest thing to a perfect blockchain — fast, secure and cost effective, it also provides many valuable features to its users: UIAs, MPAs, DEX, multi-signature accounts, voting. Other valuable standard features are being constantly implemented.

Still, when it comes to business operations, you often find yourself limited by the standard functionality and are not able to implement your custom business logic. Of course, you can create a script on your server and execute BitShares operations in auto mode, but this is not what a true DApp needs. You need on-chain logic executed inside the consensus.

Smart contracts unleash a unique ability for counterparties to operate in a trustless environment and add more traction to BitShares perfect products like MPAs, allowing people to build a complex business logic operating price stable currencies in a decentralized environment.

Numerous business cases can be implemented: scheduled and ongoing (aka token streams) payments, insurance contracts, sophisticated financial products, funds escrow and vesting, crowdfunding automation and many others.

The examples of blockchains like Ethereum and EOS show us that smart contracts and DApps are here to stay and bring with them a new type of economy and a new way of doing business: DAOs, Decentralized Autonomous Organizations. BitShares, of course, will be a part of this bright future.

Although EOS is the most modern technology at the moment, it is still in its childhood and it is probably too early to be considered a trusted operation environment.

On the other hand, Ethereum Virtual Machine has proven its ability to operate, with thousands of smart contracts already implemented and a huge army of developers ready to implement new DApps. This is the reason we selected Ethereum VM to be integrated into BitShares core and allow on-chain smart contracts to be executed.

OpenLedger team has spent several month working on the solution and at this time we believe it is mature enough to be presented to the public!

Here you can find the solution description: https://drive.google.com/file/d/1NZHPojlyNGaGbAR6L9YmvjJu7_AAXDoY/view?usp=sharing

There has already been a testnet operating for several months, where you can run your smart contracts in Btishares environment. See details here: https://drive.google.com/file/d/1Pfe246M82gPfBF3zbabkYEUazjV-k3kj/view?usp=sharing

There is a technical discussion in GitHub: https://github.com/bitshares/bitshares-core/issues/1182
 
 
We are convinced that this solution can bring many new users to the ecosystem, stimulate its usage and adoption across business environments all over the world, and raise BTS demand and therefore price. 

However, community members have raised concerns, so we would like to start a public discussion of this opportunity and decide if it should be processed as a new WP.
 
Here are some of the concerns raised by BitShares members:

1. BitShares was not originally designed to run custom smart contracts, this is something totally different from the original idea.
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Well, when BitShares were originally started in 2015, custom smart contracts were something extremely new and were not in the scope of the ecosystem. Nowadays, using on-chain scripts and DApps is a mainstream trend in the blockchain industry and there is no reason for BitShares to stay away from it.
 
2. Custom smart contracts may spam, contaminate and flood the blockchain, make it slow and heavy.
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With the implementation of an appropriate fee management process, no spam contract is allowed — any operation is paid, raising BTS demand and price. The blockchain is meant to be used, this is what it was created for, so it doesn’t make sense to limit its usage.

Of course, the service must be well paid, and the BitShares committee will keep an eye on the fee schedule to regulate smart contracts fees and make sure they pay reasonable compensation to block producers.

According to many stress tests, BitShares is able to cope with at least 4,000 TPS, and at the moment the average number of transactions is around 20 TPS, so the blockchain seems to be massively underutilized and still has huge unused capacity.
 
3. There may be fraudulent or illegal contracts running in the network.
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Unfortunately, this is true for any public blockchain and there is no sure remedy against it. Even at the moment there are scam coins and MPAs with 100% market fees operating and trading in BitShares. Implementation of VM changes nothing in this area.   


We do encourage public discussion of this proposal, your feedback is extremely welcomed!