RE: What does a LIGHT ACCOUNT need to do?
Steem it inc have said that this is reletavely low amount of work to achieve.
At @threespeak, we have been discussing light accounts with steem it inc for almost 10 months now, since we see it is critical for app development , scaling and onboarding and for investing in smts
Light accounts should:
- not be able to comment, upvote, vote, contribute to inflation Mechanisms, power up, or interact in any way with the chain apart from the following:
- Move steem
- Move smts
- One private key
- free Wallet / account creation
- either app or user covers small transaction fee if required
- They do not need a customisable name initially as the urgency of them being available cannot be underestimated and we would like to cut dev time down as much as possible. Custom name could be added later on
LA’s would enable threespeak and it’s users to:
tip any one any where any time, in steem or Content creator smt even if they don’t have a block chain account
Allow anyone to purchase an smt even if they don’t have a steem account (particularly good for projects doing icos or raises)
Allow none steem users to easily acquire steem in order to purchase in app services / products / experiences
allow anyone to make auto, passive micro payments to consume content (ie 0.001 steem per view or per minute)
incubate and retain users before upgrading to full steem account
plus Miriad other factors that u might need to use steem without having a full steem account
It is our understanding that light accounts can be implemented fairly easily in the next hard fork. We are urging a campaign to try to achieve it. We cannot understate how important it is for the scaling of apps here on steem
I could see it having one key instead of multiple as a more BTC/ETH style system. And yes perhaps we could start with just a cryptographic address instead of human readable name.
But in general it sounds like your needs for 3speak are pretty similar.
Thanks for your input I haven't talked a lot with steemit inc about these things at all so it's interesting to get your take. When i thought about what was likely actually needful i was realizing that it doesn't really seem to complex. And the barrier for a content producing user at 3sp only with no delegated SP also gets easier as well because of resource pools.
Spot on :))
So you think light accounts would be better implemented at the blockchain level rather than on a second layer shared between dApps (e.g. Hivemind)? How so? It is confusing to me why it would be advantageous to implement them at the blockchain level.
either is fine, blokchain level is preferred as it seems a better practise. but if it can work stable and secure just as well on a second level, ok with me, but i am not an expert in this dept. so i would rather yield to an experienced block chain dev on the issue of whether it needs to be implemented at the blockchain level or not
Cool. :) Yeah, I would think that implementing it on the blockchain level would defeat the purpose of a light account because it increases the complexity on the user side of things. Especially if you want people to be able to perform financial operations and to own their own crypto, then they become their own bank, with all the security issues, complexity and required education this brings. A big part of the onboarding issue seems to be about how to manage keys and security so that you can be your own bank and keep your funds secure. I'm thinking that this knowledge of how to keep your funds secure can be gained gradually - so that the person registers with a light account on Steem that is on a traditional database (e.g. Hivemind), participates on Steem socially (but not financially), learns more and more about crypto, blockchain, keys, security, etc. over time, and when they're ready they purchase or receive a full Steem account on the blockchain. At that point they participate on Steem financially. And in the meantime, since the light account generates content by interacting socially, the person can choose where funds generated from their activity go to (just like people now choose who receives the post payout).
What do you think?
I’m not sure I’m 100% with u here. But certainly coming in with one password on a light account as described in my message above would be cool. Just like and eth or a btc account. No different. Then over time the user can be upgraded or purchase a full steem account