[Pre-Announcement] Morphene Blockchain - [ICO] - Details Inside - Trust-less Online Auctions

jga (65) 5 years ago

Interesting work. I took a look at the code in github and it is more clean and reduced!, also removing references to the steem hardforks 👍

You say that it is for "application specific" (auctions), but how do you prevent apps like steemmonsters, magic dice, or drug wars to work on top of it.

$0.04

3 votes

morphene-io (59) 5 years ago

Hey thanks for checking out the repo!

The repo hasn't yet been updated with the Morphene initial release commits that contain the Auction operations and objects and removes all unused operations, such as the customJson ones.

In the launched system, there will simply be now way to submit an operation that is not related to either your account or an auction.

This should be sufficient to prevent anyone from having much of a desire to build a generalized application upon Morphene.

Also, MORPH tokens will only be attainable in the beginning from Morphene directly (or deposited into newly created accounts), so there isn't much risk of any single stakeholder getting a huge amount of tokens. Unsold ICO tokens that are not earmarked for other tasks will either be given away in promotions or burned.

When the Morphene initial release is ready, there will be a more specific document released detailing the intricacies of the system and it's mechanics. Keep on the look out!

seedbox65 (25) 5 years ago

it seem interesting hope to join soon

whatsup (75) 5 years ago

I love the name very clever.

I have no idea from reading this, what application specific would mean and who the target audience is. :)

morphene-io (59) 5 years ago

The mission of Morphene is to recreate online auctions in a Trust-less manner with full transparency.

The first version will only support auctions created with MORPH that pay out MORPH. Since the auction creator receives 10% of the auction payout when it is over (and the winning bidder gets 90%) there is an incentive for users to figure out the optimal auction duration and initial fee to be used when creating auctions.

Choose too low of a fee and users may not even bid on the auction. Choose too high of a fee and you will risk not making a token profit from your auction.

This concept is essentially a distributed environment that promotes competition and engagement between users. If the system is proven successful during version one, Morphene will evolve to support all major cryptocurrencies and essentially become a token exchange.

Over time, the auction format will also evolve and improve to allow users to rate sellers and bidders, sell physical items (like on eBay), and host donation auctions without having to manage them.

$0.05

3 votes

whatsup (75) 5 years ago

Sounds exciting! I'll follow along.

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1 vote

wehmoen (68) 5 years ago (edited)

https://t.me/morphene_chat

morphene-io (59) 5 years ago (edited)

Strange .. I will have that looked into immediately. Appreciate the heads up.

Ok should be fixed now. New to Telegram administration and apparently a Channel is only a way to share announcements, not for users to chat. I deleted the channel to gain access to the permlink again and recreated it as a group.

Thanks again for the heads up

$0.02

1 vote

ravi7777 (11) 5 years ago

Its really looking interesting !!!

3 votes

tipu (67) 5 years ago

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arcange (73) 5 years ago

Congratulations @morphene-io!
Your post was mentioned in the Steem Hit Parade in the following category:

Pending payout - Ranked 7 with $ 108,54

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steemitboard (66) 5 years ago

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stackin (78) 5 years ago

🤷🏼‍♂️

Posted using Partiko iOS

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