We are happy to announce the release of our first experimental app module, the Project Decorum Wallet!
The wallet implements our novel token design that can be considered a hybrid between the typical SAFE MutableData token and the blockchain tokens that are common in the crypto-currency scene:
- Bitcoin-style divisibility, up to 8 decimals of precision without any additional performance cost from using those decimals
- Records the history of all transactions in a tree structure, while only revealing transactions on a need-to-know basis
- Transaction validation only requires validating the direct ancestors of received transactions
- A transaction “explorer” similar to classic blockchain explorers that allows you to inspect the history of your transactions all the way to the genesis transaction
- Allows you to easily create you own token (fixed supply only for now)
- Supports sending tokens directly to someone’s SAFE name (public ID)
- Allows you to create multiple named wallets and SAFE names (public ID’s)
For more technical details, check out this presentation of the SAFE Dev 2016 Amsterdam meetup.
The official SAFE Browser 0.7 is required, you can download it here.
After installation, create a SAFE account if you don’t have one yet, login and then visit this SAFE location:
On the main page, first create a named wallet. Go to ‘Names’ in the navigation bar and register a SAFE name if you don’t have any yet. Then couple your SAFE name with your wallet on the same page. Transactions can now be sent to your wallet simply by using your SAFE name as the recipient! You may post your SAFE name(s) in this thread so we can all send each other tokens for fun.
We strongly consider to use this token design for Project Decorum’s Clike token that can in the future be exchanged for Project Decorum Coins. Although this design also has performance trade-offs compared to regular MutableData tokens, we hope to see a net improvement for Clike’s intended use as endorsement tokens. The high degree of divisiblity with no performance cost is also desirable.
Developing this particular part of Project Decorum’s goals first was done for several reasons. Since the design of SafeCoin (especially concerning divisiblity) is not necessarily final yet, we hope this experimental design can offer new insights and spark ideas and discussions that may be useful for SafeCoin and perhaps also for tokens of other SAFE projects.
Another reason to develop and release this module first was because it’s narrow in scope while almost all of SAFE’s API features and a lot of cryptography had to be used. As such it functioned as the perfect crash course for developing apps on SAFE, which requires a different way of thinking than regular client-server applications on the internet. Our experience of the past months will help a lot with further development of Project Decorum’s social networking features.
This is an experimental release, it shouldn’t even be considered to be at an Alpha stage. None of the tokens in the wallet represent any value. If you have programming skills it’s possible to break transactions if you know what to do. This is because there’s still one final feature missing from the current SAFE Browser DOM API that we need to make transactions truly immutable.