RE: DLUX DeFi Progress
You are viewing a single comment's thread:
So... we got SMTs?
And also, if cross chain token swaps are so easily done using escrows, why does REN don't just use that to create WBTC? Are there some pros and cons compared to what REN does?
0
0
0.000
The RenVM is the asset management system for coins off of ETH. The difference between using a node architecture or smart contract based architecture on ETH is what it costs to run the code. GAS is used on ETH, to incentive the entire network to run and verify transactions/code. With DLUX only interested parties make state changes, they are using their Hive Resource Credits for secured cross-talk, while the entire HIVE network verifies only the transactions/cross-talk. Building a bridge between smart contract chains like ETH with DLUX will take quite a bit of work, and due to the nature of Hive/DLUX the bridge will have it's "toll booth" on the ETH side in something like a wrapped DLUX asset.
While the runners of DLUX nodes can deterministically control a Hive multi-sig wallet there would need to be a lot of work done to control a multi-sig wallet on a different chain; but it is possible. It is a long term goal.
Thank you for the detailed answers! It clarifies a lot.
As far as the SMT question goes. This isn't a point by point replacement for SMTs. This costs aditional resources to run and provide token API, as well as Resource credits for the runners. SMTs were going to be run by all HIVE nodes, the cost of running these different tokens would have been reduced by limiting token functions... So in many ways these can be adapted to more uses, and if interested parties are running their token nodes mostly from their at home computers that are always on anyway it would only take a couple hundred HP per node for the Resource credits; while API is provided from a dedicated server(s) to the website(s) relying on the token architecture.