Author Topic: OpenLedger propose Bitshares 3.0 enhancements (NEW)  (Read 14580 times)

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Offline ivandev

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OpenLedger propose Bitshares 3.0 enhancements (NEW)
« on: October 24, 2017, 11:28:51 am »
Hello and welcome to the updated poll (with possibility to change vote), related with OpenLedger team's proposal directed on making research and further features deployment on the BitShares network.


Detailed text of proposal:
(Previous discussion is available at: https://bitsharestalk.org/index.php/topic,25179.15.html)

Dear Community Members,
Over the past two years, OpenLedger have played an important role in the development and establishment of the BitShares blockchain. Our high-qualified team of developers have been involved in dozens of third-party projects, acting as consultants and direct executors, continuously interacting with the community, developers, and traders to develop their products on the BitShares ecosystem.
Believing in the limitless possibilities of BitShares technology, it is OpenLedger’s vision to build projects for all uses, and truly develop ‘Blockchain as a Service’ (BaaS).

With a varied and rich experience in development using Graphene technology, as well as unmatched experience in working with Bitcoin, Ethereum, NXT, Omni, Waves blockchains, the key goal for the OpenLedger team will be to research ongoing cryptocurrency technological trends, as well as create new features, with subsequent implementation into the BitShares blockchain.
OpenLedger sincerely believe that BitShares is significantly underrated, from both economic and technological points of view in comparison to other crypto-platforms.

The strategic goal of OpenLedger is to create such a platform which will outpace the competition and allow for the creation of a truly decentralized and trusted digital economy. To achieve these goals, we would like to rely not only on our own views and ideas, but also on yours - the community opinion - and we invite you to like to take part and join us in this next stage of Bitshares’ evolution.

For the first stage of our mission, we want the community to vote for one, or more, of the following proposed ideas:

1) Implementing a virtual machine (like Ethereum’s’ Virtual Machine) into Graphene.
Once created, it will allow each user to produce smart contracts that work with assets and Smartcoins. The mechanisms of ICOs, trusted systems for the payments of dividends, and hosting various games/shares/lotteries, are examples of possible, future business cases.
By combining the strengths of the two platforms (the flexibility of ETH Smartcontracts and the speed/throughput of BitShares), they will get the symbiosis of the advantages and eliminate the weaknesses of these two platforms.

2) Implementation of the Atomic Swap mechanism.
Such a mechanism will allow the exchange of funds from one blockchain (Bitshares) to another (bitcoin, as the first), without any participation from third parties. In this case, BTS, MPA (bitUSD), and UIA can be used as bitshares funds.
Given the fact that there is only one real decentralized exchange, the ability to enter it from other blockchains, without any risks (technical and regulatory), and the participation of third parties (gateways), creates huge economic potential for the platform and the cryptocurrency economy.

3) Creation of Fee Backed Asset.
The idea of creating the FBA was proposed back in 2015, but was never implemented. (http://docs.bitshares.org/bitshares/user/fba.html)

In addition to implementing the mechanisms for automatic dividends distribution, it is proposed to discuss additional options for managing fees (the ability to impose payments on the issuer, change the fee rules for creating/closing the order, so that the person who closed the order pays 100% of the fees or 50/50).


We are hungry for constructive dialogue and invite all of you in the community to join us in this quest.
Our menu of ideas may not be complete and if a community member puts forward an idea proposing the implementation of an unlisted, and vital development, we will add this item to the  list (your vote can be changed throughout the voting process).

Phase two will include the tabulation process.
The results will be summed up either on November 9 (in the case of clear and straight voting), or on November 30 (if there will be active discussions or disputes). Whatever the positive outcome, we will prepare a detailed roadmap, which will outline the steps, deadlines, project participants, and financial calculations, which will in turn be presented to the community.

The third stage will be a full deployment on the test network and the environment, with the testing process performed by the team and any interested parties within the community.
Following this, we will start the integration into working nodes. If the changes are significant, we will perform the hard fork, provided that all witnesses agree.

At OpenLedger we believe that true progress and mass adoption of blockchain technology will only come from working together. Collaboration is the new tool for global progress and it should be encouraged at every level, so please join us as we explore the future of the BitShares blockchain.


The OpenLedger Development Teams behind this project are:

Key Management Team:

Ivan – The Initiator and Supervisor of this project, Ivan is deeply involved in strategic planning, research and communications. He has led the OpenLedger development from the first moments of its existence.
Email: ivan@openledger.io
LinkedIn: https://www.linkedin.com/in/ivan-bo-b7421a151/

Mikhail – As the Head of Project, Michael is an experienced Release and Project Manager. Before crypto, he was the head of the management department in Wargaming Inc. (World of Tanks/Warships/Planes creator).
Email: mikhail.makaruk@openledger.io
LinkedIn: https://www.linkedin.com/in/mikhail-makaruk-2022714a/

Key development team:

Alex – The Guardian of Project Servers, Alex is am experienced DevOps and Engineer, controlling more than 20 servers the world over. He has built a unique network of pools with gateways, nodes and wallets, and manages security, resistance and stability of server infrastructures.

Anton – The Team Lead of Project Development, Anthony is a professional Engineer, with 12 years of programming experience (C++, Python, Ruby, JS), dozens of executed projects (four of them during the previous year in the blockchain industry) and limitless enthusiasm. Antony coordinates the work of dev groups in different directions (core, gateway, etc.).

The list of connected developers will be formed closer to the beginning of the approved project.

So, make your choice and feel free to comment!
« Last Edit: October 24, 2017, 11:35:01 am by ivandev »

Offline karnal

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #1 on: October 24, 2017, 12:12:11 pm »
Your original thread inspired me to write this - https://steemit.com/cryptocurrency/[member=33020]karnal[/member]/privacy-in-the-digital-age

There is zero mention of confidential/private transactions, in the poll, your OP, and all of the replies, which I find appalling; I took half an hour to write something about it, in sort of a bigger-picture kind of way.

Hopefully it helps framing why private transactions being discounted will ultimately, as far as I can see it, spell obsolescence for bitshares.

We're already 1.5 years late, going to the 3rd reimplementation of the platform, and privacy has never been taken seriously.

It won't take off without it. I hope I'm not the only one who can see it.

Offline ivandev

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #2 on: October 24, 2017, 03:59:16 pm »
Quote from: pc
I'm very sceptic about porting a VM to BTS. I believe that in the end it means that we have to sacrifice our speed, because the problem here is that VMs simply don't scale. We're still one of the fastest blockchains out there - sacrificing that for something that in the end would be no better than ETH would be a very bad move IMO.
In our vision to implement VM in parallel and use (call) it only for particular transactions and assets. So, VM integration will expand possibilities on BitShares, but will not limit current functionality.

Quote from: pc
Not sure if I understand what you mean - are we talking about Atomic Cross--Chain Trading (ACCT)?

In that case I think that this would be a great feature to have. It could provide an actual trustless gateway (as opposed to a delegate-controlled sidechain/gateway) between BTC and bitBTC, and most altcoins out there. The speed of such trades is mostly determined by the speed of the other chain (read: slow), which is why I think that people wouldn't use it for everyday trading but more to move funds into and out of our chain. For everyday trading they would use out built-in high-speed DEX.

It could also be implemented with relatively little effort (read: low cost) I think.
Thanks for remark, added link clarifying sense of ACCT in poll option. For the beginning, we consider ACCT as trusted way to enter into BitShares from outside (other blockchain), bypassing exchanges (involving 3rd parties and regulations). It's actual to whales and allow do not drop price, using exchange. After ACCT implementation, we will look into creating ACCT market, connecting offers from different blockchains, or at least, including BTS ones.

Quote from: wdfh
I'd like to see the option to trade all alt coins on Bitshares, then we would become the go to DEX for any trade. Is this possible?
We're working on this already, but it's not related with RnD.  We're also planning to let people choose a list of currencies, which will be connected. So, follow up our newsletters and forum threads.

Quote from: bitcrab
I feel what we are talking about are:

1. to which direction should Bitshares evolve while the other blockchains evolve rapidly?

2. how to implement the new change and fund the development?

after go through this thread and some relevant posts, I tend to agree the ideas come from https://steemit.com/bitshares/@slavix/beos-bitshares-on-eos-alternative-proposal-for-bitshares-3-0 :  make an EOS clone with BTS as a base token.

maybe smart contracts and VM are the most important factors for the next step evolution of Bitshares, however, EVM is designed specially on Ethereum blockchain, I don't think it can be smoothly integrated into Bitshares blockchain, the obvious difference between the 2 blockchains base will make this process tough, so why not adopt EOS VM, which is also built on Graphene base, instead in this scenario?

thinking continully, if we need to adopt most of the good features introduced by EOS, why not just clone EOS and make BTS the base token? and realize the current Bitshares features as native smart contracts on BEOS (Bitshares on EOS)

to avoid the potential risks and fit the possibility that there is no consensus from community, one selection is to hard fork BTS to 2 parts, one classical BTS and one BEOS, like BTC and BCC, then each one can still prefer what he likes most and the better one will emerge with time elapse.

A worker proposal can be created to fund the development and implementation of this, after a skilled team is organized.
As you got it right, the main goal of current Project is evolving of current BitShares. EOS is amazing project and we constantly watch in this, but it's still raw as product, while launch is planned for the summer of 2018. From our point of view, until alpha/beta testing of completely done platform, taking EOS features in BitShares is too prematurely. But given the fact, that 3 members already supported the idea of EOS implementation, we will think (and we're opened for particular proposals), what is possible to suggest as solution.

About VM proposal, we didn't decide yet exactly which one to implement (will do during research stage), but there two significant reasons, why EVM from our point of view is more preferable for now:
1) Legacy. There are many developers already create SContracts and a lot of sources published, so it will be easy for people, to start/continue making their business on BitShares.
2) Stability. EVM is well-tested already for more than years and it's trusted by business, while EOS is in the beginning of its way.


Quote from: karnal
Your original thread inspired me to write this - https://steemit.com/cryptocurrency/[member=33020]karnal[/member]/privacy-in-the-digital-age
Dear Karnal, we respect your opinion and your undisguised interest to Monero solution (and thanks for link to thread), but we discuss here specific solutions and maybe you could suggest anything, we can add into BitShares to meet your expectations.
« Last Edit: October 24, 2017, 04:01:11 pm by ivandev »

Offline bitcoinerS

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #3 on: October 25, 2017, 02:45:09 am »
Why not add BEOS (Bitshares on EOS) option to the poll?
Seems this option has some support in the community.

See  "BEOS - Alternative proposal for Bitshares 3.0"
https://steemit.com/bitshares/@slavix/beos-bitshares-on-eos-alternative-proposal-for-bitshares-3-0
« Last Edit: October 25, 2017, 02:55:10 am by bitcoinerS »
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Offline fav

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #4 on: October 25, 2017, 04:52:23 am »


they already addressed this in the last post, you did not read this either.

Offline bitcoinerS

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #5 on: October 25, 2017, 05:26:22 am »


they already addressed this in the last post, you did not read this either.

The only comment addressing BEOS proposal I see, is that [member=42720]ivandev[/member] thinks EOS is not ready. 
In my opinion EOS is ready to start developing BEOS, to be launched when EOS is released in june of 2018.
In any case it is up to the community to decide which proposal to support.
Adding BEOS option to the poll allows community to voice its support.
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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #6 on: October 25, 2017, 06:51:29 am »


and it's still nothing they can work on right now.

Offline bitcoinerS

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #7 on: October 25, 2017, 07:01:37 am »


and it's still nothing they can work on right now.

Not a fact.
Current Bitshares functionality will need to be implemented as an EOS native smart contract. This work can start now.
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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #8 on: October 25, 2017, 11:07:36 am »


and it's still nothing they can work on right now.

Not a fact.
Current Bitshares functionality will need to be implemented as an EOS native smart contract. This work can start now.

subject to stakeholder approval.
work can't start, there is nothing to work on.

Offline R

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #9 on: October 25, 2017, 11:32:56 am »


and it's still nothing they can work on right now.

Not a fact.
Current Bitshares functionality will need to be implemented as an EOS native smart contract. This work can start now.

Given zero BSIPs on the routes to EOS integration, this isn't a serious proposal and won't make it in time for the ICO. Perhaps bringing some of EOS' functionality to BTS is plausible, but BTS merging into/onto EOS is highly unlikely.

OP: Got any BSIPs to share? :)

Offline yvv

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #10 on: October 25, 2017, 11:47:58 am »


and it's still nothing they can work on right now.

Not a fact.
Current Bitshares functionality will need to be implemented as an EOS native smart contract. This work can start now.

We don't know, may be Larimer's team is already working on this right now.

Offline bitcoinerS

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #11 on: October 26, 2017, 02:30:10 am »

subject to stakeholder approval.
work can't start, there is nothing to work on.

Yes, stakeholder approval is what this proposal is seeking.
Work on BEOS begins with discussion, planning, approval of the plan by the community, securing development funding, assembling a team of qualified devs to work on it.
Coding can not start yet, but discussion and planning of this project can and should start now.



Given zero BSIPs on the routes to EOS integration, this isn't a serious proposal

BSIP for this proposal has not been created yet, it will be written once there is a discussion of the proposal and general approval of the idea from stakeholders.
My goal here is to ignite this discussion and see how much support this idea gets from stakeholders.

won't make it in time for the ICO.
Which ICO?



Perhaps bringing some of EOS' functionality to BTS is plausible, but BTS merging into/onto EOS is highly unlikely.

In the short term cherry picking some improvements from EOS and integrating them into Bitshares 2 may make sense. Long term Bitshares 2 will not be able to compete with BEOS, as the latter will have a superior foundation with many significant advantages over Bitshares 2.

We don't know, may be Larimer's team is already working on this right now.

There is a basic sample exchange smart contract  developed by EOS team.
https://github.com/EOSIO/eos/tree/master/contracts/exchange
It can be used as a starting point for porting Bitshares to EOS.
« Last Edit: October 26, 2017, 02:42:11 am by bitcoinerS »
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Offline severo

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #12 on: October 26, 2017, 06:46:46 am »

In the short term cherry picking some improvements from EOS and integrating them into Bitshares 2 may make sense. Long term Bitshares 2 will not be able to compete with BEOS, as the latter will have a superior foundation with many significant advantages over Bitshares 2.


And what are those features that make EOS absolutely superior and essential? we should remember that the most capitalized currency has no relevant technical characteristics. I suspect that all those characteristics are beads and colored glasses to deceive the unwary.

Offline bitcoinerS

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #13 on: October 26, 2017, 07:40:23 am »

In the short term cherry picking some improvements from EOS and integrating them into Bitshares 2 may make sense. Long term Bitshares 2 will not be able to compete with BEOS, as the latter will have a superior foundation with many significant advantages over Bitshares 2.


And what are those features that make EOS absolutely superior and essential? we should remember that the most capitalized currency has no relevant technical characteristics. I suspect that all those characteristics are beads and colored glasses to deceive the unwary.

Technically inferior technology can lead in capitalization, maybe even for a long time. However superior tech will succeed and will likely win out in the end. EOS is Dan Larimer's 3rd blockchain and is being built with lessons learned from the first two, Bitshares being the first.  EOS is a natural upgrade path for Bitshares.

Some of the most significant advantages BEOS will have over BTS 2:
  • Smart contract support
  • Compatibility with EOS Dapps
  • Massive scalability
  • Low latency (likely sub-second)
  • Free transfers
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Offline severo

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Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« Reply #14 on: October 26, 2017, 08:18:21 am »

In the short term cherry picking some improvements from EOS and integrating them into Bitshares 2 may make sense. Long term Bitshares 2 will not be able to compete with BEOS, as the latter will have a superior foundation with many significant advantages over Bitshares 2.


And what are those features that make EOS absolutely superior and essential? we should remember that the most capitalized currency has no relevant technical characteristics. I suspect that all those characteristics are beads and colored glasses to deceive the unwary.

Technically inferior technology can lead in capitalization, maybe even for a long time. However superior tech will succeed and will likely win out in the end. EOS is Dan Larimer's 3rd blockchain and is being built with lessons learned from the first two, Bitshares being the first.  EOS is a natural upgrade path for Bitshares.

Some of the most significant advantages BEOS will have over BTS 2:
  • Smart contract support
  • Compatibility with EOS Dapps
  • Massive scalability
  • Low latency (likely sub-second)
  • Free transfers

Do not lose sight of the fact that cryptos are used as an investment. As an investor I have clear the advantages of Bitshares: stable and self-guaranteed price currencies with which I can make backups of my investments. Coins that give 5% per year, a DEX own where no one can steal the coins. Instant transactions.

All this is easily understandable. From EOS I am clear the free transactions, but the rest I am not sure to fully understand, and how many of these functionalities would be used by 75% of investors.

It is possible, I do not doubt, that EOS is a magnificent platform, but that will not be enough to succeed if we do not perceive its advantages in a way as clear and honest as those of Bitshares.