Hi all. I believe the biggest thing that SAFE still NEEDS to have before launch is support for smart contracts! I can volunteer to help add this support, but we would obviously need to work in the proper way with the core team, however your procedures are set up (making a proposal, formalizing it, etc).
Data and Safecoins is NOT ENOUGH in 2021. It’s like Bitcoin having only one operation: transfer balances. So the use case is to store value and send value. That’s only scratching the surface. And exactly why Ethereum made a Turing-complete language of INSTRUCTIONS that are executed in all the nodes doing consensus, and an instruction to rollback() a transaction.
SAFE must support this in v1.0 unless it supports soft-forking it later.
Look, this will give SAFE superpowers, and attract a lot of developers. Not at the app layer — which requires TRUSTING a user (very much against the ethos of SAFE) — but at the layer of vaults doing consensus.
In other words, the key promise of Ethereum and other smart contract platforms like Tron etc. is that your CODE can be trusted to run. That is the entire premise that we built Intercoin on, and all the other DeFi projects do.
(Other DeFi projects are little games like cryptokitties or financial games like yield farming and automated market makers. Intercoin is about much more serious applications: https://intercoin.org/applications )
All your vaults have to do is spin up a virtual machine to do some opcodes and implement rollback(). The “gas fees” can be paid in safecoin, and would be tiny since consensus between 30’vaults of a secon is inexpensive.
That’s what Tron, xDaiChain, Cardano, Polkadot, Solana and ALL OTHER distributed systems do. They support EVM. Same as all commodity hosts supported PHP. Because 95% of all smart contracts target the EVM for compilation. Whether they are written in solidity or another thing. It’s like Microsoft.NET bytecode.
You’ve spent 14 years building SAFEnet and in the meantime a rich ecosystem of code has emerged which runs in a new Trusted Computing Base. Support the EVM as a compulation target and let them port to SAFENet. It will make the network much much larger than if we cut this one corner and released it with no ability to run smart contracts in a trusted environment, and only run them by a trusted edge participant. Your mission is to eliminate needing to trust anyone for storing data. Just a little bit more lets you eliminate needing anyone for the APP LAYER also.
@Melvin @happybeing I forgot, who is involved also with Tim Berners-Lee’s Inrupt team? They and many others have been advocating that the apps and data be decoupled. But in 2021 the apps themselves should be decoupled into the “blockchain layer” (stored procedures) business logic and the “dapp layer” (user agent) UX. SAFE should have a way to support the former.
All that is needed for that is to support running arbitrary code in a safe VM on the nodes (even if the EVM support is added layer), and to support for ROLLBACK and COMMIT instructions. As long as these two are added, everyone can port their smart contracts - and not just their databases - to SAFE.
Imagine a network where smart contracts operate on data that is cheap and not outrageously expensive like blockchain based systems. They’d have a field day!