I’m super excited the innovation that can be unleashed by users owning their data – and the possibility to create new products using that open data (with the permission of the user).
However, having the data open to everyone closes the door on monetizing it (obviously). The result of this is that many open-data projects failed before due to not having enough resources to build and promote their work (e.g. Diaspora).
Also the fact that anyone can just clone your app and have all your data available to them makes investing in the development of such apps and ecosystems very risky.
My question is: once Stack tokens are released - will there be a possibility to release tokens on top Blockstack virtualchain and use them to fund the development of your app? If yes, how will this work technically?
Btw. I found this promising line in the FAQ which might relate to what I’m asking:
Blockstack does not implement a smart contract system (yet), but it will soon implement a native token that will be accessible to Blockstack applications.
Any clarity on this question from a while back? Been attempting to follow technical aspects of this platform best as possible for a few years now without any technical background (you all do a beautiful job of articulating these complex concepts to lay folk like myself). But from a bottom up organizing background @jude 's beautiful presentation in Hong Kong about the Q4 release is a big deal if I am understanding correctly!? Any discussion on this topic that I am missing out on because of not frequenting technical topics/meetings enough?
I do remember language about this a while back in the community channels but never came across discourse on it until trying to follow the recent announcements of the release and the presentation as best possible.
(understand this is an older post, only mean to revive discussion or be pointed to missed discourse on app specific tokens & any relation to the upcoming release. And do not mean to revive @valrepsys 's points on data security[client-side data is a beautiful thing ])
Stacks blockchain v2 will have a full smart contract system (a new language that we’ve been working on) and open the door to creating new tokens on the Stacks blockchain. Our mechanism of scaling tokens/apps on the Stacks blockchain is tentatively called “app chains” and we’re planning to release more tech details on this in the updates to the Blockstack technical paper and the Stacks blockchain paper.
We’re currently working on a draft of the Stacks blockchain paper and that will include details on our consensus algorithm and mining. SIP-001 has some of these details.
Beautiful! I knew my nontechnical eyes weren’t deceiving me over the years! Reminiscent of rewinding interviews & re-reading earlier papers in awe & disbelief of what has been built by this community! Thank you kindly for everything. Lot of projects coming soon from the Central Valley in CA!
Especially with this release coming so soon!
A paradigm shifting avenue for app creation, enabling poor folks like myself[too poor to own the device used to write this] to democratize access for even poorer folk than myself, to engineering tech that will significantly impact future socio-economics of this world we share. Inching us towards horizontality in socio economic influence & slowly but surely – an adequate & authentic approach to a ‘shared economy.’