muneeb

7 ms·

1.
Show HN: Btc Domains as a Smart Contract(btc.us)
2 points by muneeb 5y ago|0 comments
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by muneeb 6y ago
I'd argue the inverse. It's easier to build more complex things on top of simpler primitives than vice versa. So a simpler base layer (say TCP/IP for the internet) opens the doors to more complex things on top (say http or Ja
3.
by muneeb 6y ago
Ethereum 2 is very different. It is proof of stake (PoS). This reuses the proof of work of Bitcoin (so very different properties for how hard it is to change blockchain history). Also, PoS has some bootstrapping issues where a new node cann
4.
by muneeb 6y ago
What you are describing is similar to what Stacks 1.0 was i.e., directly on top of the Bitcoin chain -- a virtualchain. Every Stacks 1.0 transaction was a Bitcoin transaction. The lessons we learned from that deployment for 2+ years is that
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by muneeb 6y ago
The design can be thought of similar to a side chain but it's not really a side chain. It uses a new type of consensus, called Proof of Transfer (PoX). Stacks miners have visibility into both the Bitcoin chain and the Stacks chain. L
6.
by muneeb 6y ago
Muneeb here, Stacks co-founder. So it does not use Bitcoin as oracle. It uses Bitcoin as a settlement layer. (Oracles like Chainlink can be, and are being, built using Clarity lang for Stacks blockchain itself.) For using Bitcoin state on E
7.
by muneeb 6y ago
Good question! Bitcoin has limited scripting language (Bitcoin script) for security reasons. Having a general smart contract language could open up a larger attack surface area for Bitcoin. The transaction costs will be low initially as the
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by muneeb 6y ago
The Clarity smart contracts have direct visibility into Bitcoin state and developers can write logic around it. I do not think the headline implies you are changing Bitcoin to do this (don't think at this point anyone can change Bitcoi
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by muneeb 6y ago
99% of Bitcoin remains passively outside of smart contracts. Only about 5B on Ethereum. This can be a fairly large market and we're in early days. More use cases don't need to take anything away from Ethereum!
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by muneeb 6y ago
We received some push back for Stacks 1.0 as well! And for similar reasons i.e., you don't want to put a lot of additional data into the Bitcoin blockchain (makes it much harder to scale Bitcoin that way). This was the primary reason w
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by muneeb 6y ago
The smart contracts part comes with Clarity lang: https://clarity-lang.org/ Clarity contracts have direct visibility into Bitcoin state and can write logic against that.
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by muneeb 6y ago
Muneeb here, Stacks co-founder. Great question. You are right that Clarity smart contracts have direct visibility into Bitcoin, so you can write a contract that has logic triggered by pure Bitcoin transactions. Moving Bitcoin to Stacks is a
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Clarity: A Decidable Language for Smart Contracts(clarity-lang.org)
6 points by muneeb 6y ago|2 comments
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by muneeb 6y ago
Can decentralized (i.e., user owned) storage help here? Instead of keeping data only at user device, it can be backed up in an encrypted and private way. Gaia is one example: https://github.com/blockstack/gaia (I'
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Lambda School Students Can Turn Ideas to Products – and Profits(lambdaschool.com)
4 points by muneeb 7y ago|0 comments
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by muneeb 7y ago
See reply above. Thanks,
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by muneeb 7y ago
The pay outs are in Stacks (STX) tokens. Only the pilot phase was in USD/BTC which came from a developer growth/marketing budget that Blockstack PBC funded. See this post for details: https://blog.blockstack.org/ap
18.
by muneeb 7y ago
The point is global coordination without going through a big company like Facebook. Take the Dmails app for example, you can email me there on muneeb.id -- this will not be possible with an offline app. I hear you on the developer focus for
19.
by muneeb 7y ago
Muneeb from Blockstack here. The Stacks blockchain is needed to anchor user identities in a system that is not controlled by any single company. The App Mining rewards are incentives for developers to improve their app quality. I'd rec
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App Mining plans to pay developers $1M per month(blog.blockstack.org)
3 points by muneeb 7y ago|1 comments
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by muneeb 7y ago
Muneeb from Blockstack here. Dpage can be easily converted to a Desktop app. Most of the app logic is client-side anyway and hosting at a domain is mostly for convenience. Blockstack's "centralized servers" doesn't reall
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by muneeb 7y ago
Muneeb from Blockstack here. There was a HN Launch discussion recently that might be relevant here: https://news.ycombinator.com/item?id=20413420 The decentralization comes from (a) open-source GPLv3 code, (b) permissionles
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by muneeb 7y ago
Tokens will be distributed 30 days after close of sale. The sale runs by default for 60 days. See https://stackstoken.com/faq/ for details and the circular https://stackstoken.com/circular is the sourc
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by muneeb 7y ago
That's a good test. I worked on this for free until we could raise venture capital to support the open-source development. Without venture capital, I'd probably be working on it in academia but I think that'd be less impactfu
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by muneeb 7y ago
There is no business model behind App Mining payouts for Blockstack. It's a developer incentive program, meant to incentivize developers to build high-quality applications on the network, especially in the initial years. You can argue
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by muneeb 7y ago
Understand your skepticism. "Happens all the time with IPOs" refers to restrictions on significant holders and company affiliates to sell. Which I believe is a good thing. Blockstack pre-dates Ethereum and is the exact opposite of
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by muneeb 7y ago
If by this you mean tokens that were locked for 1 year under Reg D and then unlock monthly since the launch of the Stacks blockchain in Nov 2018, then yes there is a subset of tokens that are unlocked following the unlocking procedures that
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by muneeb 7y ago
Thanks for pointing this out. From direct text from our FAQ: "Why were Stacks Tokens valued/sold at $0.00012 prior to the 2017 accredited sale at $0.12? Founders and early employees of Blockstack PBC received tokens at $0.00012 pe
29.
by muneeb 7y ago
See the "Tunable Proofs" discussion in Seciton 2 of the whitepaper 2.0 https://blockstack.org/whitepaper.pdf Initially, we rely heavily on proof-of-burn when the native hashpower on the network is lower. We'r
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by muneeb 7y ago
Oh the mobile SDKs need a lot of attention and love. We're putting it on our roadmap: https://blockstack.org/roadmap

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