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RE: Announcing The "MARKET" Token: Diving Into The Economics

in #utopian-io • 7 years ago

Sign me up for 10 Market! :) How exactly do I receive them? Do I just log into steem-engine and they'll be there?

I wonder can you explain in dummy terms the difference between escrow on the steem blockchain vs escrow on steem-engine? I've been working on a services marketplace for seemingly forever, and was planning to use steem and steem escrow. But your post here has me thinking whether it is a better option to use a new token instead. Still trying to get my head around novel tokens and their use.

7 years ago in #utopian-io by
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         7 years ago 

        @revo I got you brother. 10 Steeming hot MARKET tokens are in your wallet right now. You just log into steem-engine.com and you'll see them in your wallet.

        The difference between escrow on Steem vs Steem Engine, is Steem Engine provides a means of writing a contract (so code that runs on the node itself), it listens to specific actions coming in for that contract and reacts accordingly.

        You could definitely write something for just straight up STEEM and SBD, but Steem Engine definitely makes this a little nicer as it takes care of listening for the transactions, transferring and so on. That kind of stuff you need to manually mess with the Steem SDK and listen to the transactions yourself, filtering out the specific ones you want and keeping a record somewhere of what is happening.

        Eventually, when we get SMT's, you'll have the ability to write a contract for Steem and do it using native and custom tokens, but Steem Engine is the closest we have to something like Ethereum and EOS contracts ability.

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