EOS Hot Sauce (#19) is a weekly digest of all the hottest news from around the EOSIO ecosystem. The space is evolving so rapidly it can be hard to keep up! We keep on top of it so you don’t have to.
While smart contract immutability is often desired or required, it is extremely hard to write code that will never need modifications in the future. Software developers simply can’t foresee every potential scenario the code could encounter, especially when writing more complex applications. Thankfully, EOSIO smart contracts have a flexible permission system, letting developers chose under which circumstances a smart contract can be amended or updated. As a default, smart contracts on EOSIO can be modified if you have the corresponding private key. However, EOS can be made immutable through the eosio.null function, which irreversibly nulls all the keys that have access to the smart contract.
Some apps, like the EOSDT stablecoin, secure their underlying smart contracts by decentralizing access through an MSIG and then distributing the access keys to a multitude of independent parties.
Another way to integrate immutability in smart contracts was introduced by EOSIO-Lock last week. Their solution is based on the element of time as measured by blocks. Using EOSIO-Lock, a smart contract can be made immutable for a specified period of time. For example, a dApp could reserve the option to update its code once a year and communicate this to the users. Throughout the year, users can be 100% sure that the contract is immutable, allowing them to safely withdraw their funds before the contract unlocks.
EOSIO-Lock was developed by the bloxchanger team. And they already announced further developments, such as the ability to vote on unlocking a locked smart contract.
However, the accountlock1 smart contract is still very new and has yet to be given a web interface. The only way to execute eosio.lock is through the EOSIO command line interface known as cleos.
It’s a fantastic idea that showcases once again the flexibility of EOSIO’s permission system and how it’s allowing developers creativity to flourish.
As mentioned above, a popular practice for securing a smart contract is by decentralizing the distribution of the keys necessary to amend it. Equilibrium’s EOSDT stablecoin smart contract is holding over 4.8 million EOS tokens as collateral. In order to earn the trust of their investors and make their contract secure, yet accessible in case of a critical bug, they have decentralized control of the smart contract. From now on, any changes in the contract requires the approval of the Equilibrium team, BPs, and community members.
With great amounts of tokens comes great amounts of responsibility! Having almost 5 million EOS tokens escrowed in their smart contract, the team created the Equilibrium Proxy which is controlled by the EOSDT governance token called NUT. This week marked the first completed round of on-chain voting and 10 BPs have been added to the Equilibrium Proxy!
Congrats to EOS Argentina, EOS Asia, EOS Café Block, EOS Lambda, EOS NodeONE, EOSCannon, EOSphere, EOSTribe, MEET.ONE and EOS Detroit for qualifying in the top 10!
Launched in April 2019, EOSDT quickly became a popular and innovative stablecoin project making partnerships with significant players in the EOS ecosystem. Already partnered with Token Pocket, EOSDT is now also featured in the Huobi wallet as their first EOS based stablecoin offering.
Congratulations to the Equilibrium team for all their recent progress!
When we hear about NFTs these days, we usually think of in-game digital assets that make up the foundations of gaming on the blockchain. But NFTs can also be used to secure physical items in the real world!
Alpha’a is an online, community-oriented platform for artists and collectors that focuses primarily on limited-edition prints. Receiving funds from EOS VC, Alphaa.io was launched on EOSIO to elevate the standard for art certification and provenance. They offer a simple certification solution that guarantees edition ownership, transactional history on the full chain of custody, and easy trading. Alphaa.io seeks to add transparency to the art market through blockchain technology by enabling future artworks to be linked to an NTF token, allowing for an easy and secure transfer of ownership when needed.
Learn more about their company and services by checking their press release or check out the website, where you can also sign up either as an artist or collector.
EOS SOV has announced plans to become the first self-deflationary token on EOS. SOV stands for “Store of Value,” and presents an interesting concept for a smart contract.
The initial supply of 1Billion is airdropped evenly to all EOS genesis accounts and the project presents an elaborate plan for burning tokens. In 21 stages, the airdropped supply will deflate all the way down to a fixed supply of 21 million EOS SOV. Until the fixed supply is reached, every time EOS SOV is transferred, a percentage of the transferred amount will be burned, creating some unique incentives around trading. It will be interesting to see what happens once it’s listed on a DEX.
According to the team, the underlying smart contracts have passed security audits from InfiniteXLabs and GenerEOS. The team plans on releasing these audits soon, and once the developers are confident that there are no flaws in the current code, the contract will be turned immutable via the eosio.null function.
As mentioned on their website, EOS SOV is created by an anonymous and decentralized group composed of developers, Austrian economists, traders, engineers, cryptocurrency enthusiasts, cypherpunks, and more.
The free token distribution just went live and we added info on how to grab your share below. Unclaimed tokens will be burned on a weekly basis, meaning that users need to claim their allocation in the first week to receive the full amount.
Under the motto, “Use your voice – Join a Choir!” the eosDAC custodians are preparing for the release of VOICE. Simply put, CHOIRs are DACs that are created on the VOICE platform. We think this is fantastic branding that will likely bring increased awareness to DACs in general and we are excited to see how this evolves!
If you want to learn more about DACs and eosDAC’s mission, we suggest you watch a recent interview with the 3 eosDAC custodians on the Everything EOS show.
Games Games Games
Competitive digital gaming is a very lucrative business, and e-sports in general have seen a significant rise in popularity in recent years. EOS VC Galaxy Digital’s most recent investment in the sector was directed towards Matcherino, a leading provider of e-sports infrastructure. According to CEO John Maffei, Matcherino is currently developing tools that utilize the EOSIO blockchain, saying “future versions of the product will likely incorporate blockchain functionality for measurement and financial payout.” Matcherino powered more than 6,000 successful tournaments and is now looking to scale its organization to meet interest from e-sports companies like Gamestop, EA Sports, Blizzard, and Microsoft.
While Matcherino is planning to provide blockchain solutions for established big gaming companies, Ultra.io is building a next-generation games distribution platform on EOSIO and looking to compete with the giants of this industry. In their 2nd Community Update, they announced an upcoming platform demo and shared some of their impressions from the many blockchain and gaming events they’ve attended in the last month.
Upland, a game funded by EOS VC Finlab AG, continues its public testing and is already adding new features, like its own UPX token and an in-game marketplace. Users of Upland can now trade and purchase virtual real estate using the in-game token, as well earning UPX on the properties that they own. But the UPX token is not currently tradable outside of the game.
The term “Play to Earn” was originally coined by ITAM Games, which already offers a variety of games playable on the EOS public network. Rewards earned in a specific game can be traded across the platform and can soon be exchanged for the ITAM token. In the last week, they’ve released a new game to their store named Dungeon Princess, which features 12 characters with unique skills, interesting inter-character dynamics, and an addictive storyline. They introduced all the features in a short video linked below.
Each of the games already released in the ITAM store have their own regular news and event updates as they keep evolving. A perfect place to keep up is on Fin, their ITAM Games weekly review, released every Friday on Medium.
While blockchain games are expected to revolutionize the current gaming industry, true decentralization is a process. Sebastian Reinholz from the CHAINWISE Group recently shared his key takeaways from the development of Chain Clash, the company’s first release currently in beta testing. The article provides an interesting behind-the-scenes perspective on what needs to be considered when developing a game that is satisfactory to users but also stays true to the ethos of decentralization.
EOS Metal has release a new voting tool that sheds some additional light on EOS voting. We encourage you to poke around and play with it – there are some cool graphs to see! Our favourite graph is the one showing the total number of voters on EOS, which has grown consistently since the launch of the network!
EOS Nation is a top Block Producer on the EOS public network. We earn inflation rewards based on the percentage of tokens staked towards us. Those rewards are reinvested into EOSIO community, tools, and infrastructure. Help grow the ecosystem by staking your vote to eosnationftw for BP or proxying to proxy4nation.
Pour EOS Hot Sauce straight into your inbox
Disclaimer: The information provided above does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever, and the information on our website should not be trusted as such. We present this information to you as general market commentary. The information does not constitute investment advice or any professional financial advice of any sort whatsoever. We do not advise or recommend that you buy, sell, or hold any cryptocurrency, digital token, ICO, or digital asset whatsoever. We advise users to conduct their own due diligence and consult with a qualified financial advisor before buying, selling, or holding any type of digital asset or cryptocurrency. We will not be held responsible for any investment decisions made based on the information provided on the website.