STEEM VM (STEEM Layer 2) - STEEM Side Chain Update.
Due to the termination of STEEM-ENGINE's service, it has become impossible to develop Smart Contracts using the STEEM blockchain.
Accordingly, we developed a Smart Contract using the Side Chain of the STEEM block chain with our @elitedevops team, and there were many achievements.
STEEM VM is still under development, and this post is for sharing the development progress.
First of all, anyone can easily issue tokens and NFTs using STEEM blockchain.
Today's post will share a system that can issue tokens and customize them.
The website is still under development, and we have added Create Token and Create NFT features.
This is the Create Token page.
You can easily create a token by specifying the token name, Symbol, and Decimal Precision.
I'm trying to create a token called First Token Test first. Symbol is FTT, Decimal Precision is 8.
When a token is created, a token is created along with the Token Contract address.
Since we built STEEM Layer 2 using STEEM VM, we can see that it is basically very similar to ERC-20.
We can issue tokens through the mint function.
If you mint the token, you can see that the token was created along with tx.
This tx is recorded on the STEEM blockchain.
It is confirmed that the contract address of the FTT token and the mint function worked on the STEEM blockchain.
Now I can see that the token has been created in my wallet and I can send or edit it.
It is a Layer 2 service using the STEEM blockchain of STEEM VM developed by us.
Developers who have developed smart contracts using Ethereum and BSC blockchains can use this system more easily and build more advanced systems.
In the future, we will further develop this system so that various smart contracts using the STEEM block chain can be used.
You can try developing various services such as Token, NFT, DeFi, loan system, stable coin, AMM DEX, and bridge.
STEEM VM must pay STEEM as a fee for every transaction, just like other blockchains.
If we receive investment or development support from the STEEM Foundation or users, we are thinking of incinerating fees from the STEEM VM.
I think this will definitely help STEEM price rise.
We hope you will share your opinions about this service.
Thank you.
cc.
@pennsif
Great job guys! The ui looks neat. If I’m right it’s integrating an evm?
Anyway we would be happy to support the development of the project if you guys plan to make the side chain open source.
We reviewed systems for integrating EVM with several companies and teams, but there were limitations to integrating EVM as-is. Therefore, we have built an environment where you can develop Smart Contracts using JavaScript. The Solidity code is not available verbatim, but most systems are identical.
It's not open source yet, but more updates are needed in various parts such as the node system. I think there are many things to check, such as security for the public.
It can be said that it is a situation where only the basic framework has been established.
Since almost all systems are the same as EVM, I think there will be no difficulty in building multiple systems such as cross-chain bridges and DeFi etc.
my opinion about it is that it would be very good for steemit.
Whether this is supported depends on who and under what conditions?
Exactly it will opensouce or how exactly. what should flow as support? Isn't the steem community enough for support? What exactly should be the plan of support. I would be very grateful to you for more openness and information as a user of this platform.
The idea is good and if the conditions are also good then the idea would be fantastic..!!!
!thumbup
We plan to open source if we can get support.
But before that, there are many issues that need to be addressed.
We hope to build a node system, but we must prepare tasks for security.
As it is a large-scale project, it is impossible for a few developers to complete everything in a short period of time.
It's still an early prototype and we have to invest in further development. In fact, the revenue from STEEM Witness is absolutely insufficient, and even if we receive an Upvote for a post, it is absolutely insufficient.
We are hoping to be selected by DIP.
very nice, many thanks
https://steemit.com/steem/@roadofrich/steem-vm-steem-layer-2-steem-side-chain-mint-token-system
Also check this post :)
Hello @roadofrich! You are Splendid!
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dead project ?
!thumbup
really a great job !
Thank you :)
good job dude :)
Thank you .
Great, it's a vital part of Steem Blockchain. It will benefits steem in many ways. 🎊
really nice but why are there fees for each token mint ect, i mean creation fee to pay the whole website okay but why a little fee on each transaction aren't transaction RC cost ?