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Title: Are Segwit & smart contracts the key to Artbyte's growth? Post by: okbit on October 14, 2017, 02:43:11 PM Here is a quote from Artbyte's announce thread:
Why is ArtByte so excited about SegWit? There are many benefits, Lightning Network, MAST, Atomic Swaps, etc., but since ArtByte is the dominate crypto for artists around the world, MAST and smart contract capabilities will be the main benefit to artists. From recent press on ArtByte: "One of the biggest problems in the art world today is the fair distribution of income for creative rights holders. This includes musicians, writers, film makers, painters, photographers, actors, etc. Segwit opens the door to new technologies capable of solving this problem. In the past only Ethereum type coins could help in this issue" Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: SL125 on October 14, 2017, 03:44:17 PM Segwit opens the door to new technologies capable of solving this problem. In the past only Ethereum type coins could help in this issue" There was a post on these forums the other day, showing that only 5 coins have smartcontract capability. This is huge for Artbyte Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: Anndrianno on October 14, 2017, 03:52:02 PM I should be by no means considered as an expert in that issue, however I'm entitled to presume that smart contracts are just another thing, which every project is obliged to have not Because it's useful or is an integral part of the idea (despite some cases when it's really crucial for the accomplishment of the project), but for marketing purposes as without escrow and all the stuff the project doesn't look like a "cutting edge" one. So in this case it's more marketing than a necessity. However, I guess that it will work and push both price and demand to new heights
Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: Similificator on October 14, 2017, 04:06:00 PM I should be by no means considered as an expert in that issue, however I'm entitled to presume that smart contracts are just another thing, which every project is obliged to have not Because it's useful or is an integral part of the idea (despite some cases when it's really crucial for the accomplishment of the project), but for marketing purposes as without escrow and all the stuff the project doesn't look like a "cutting edge" one. So in this case it's more marketing than a necessity. However, I guess that it will work and push both price and demand to new heights nice points you got there mate, and I couldn't agree more. Even if the purpose is good, we are already trapped in the mentality that most of the time, price and demand are the main reasons for segwits. And that is because most of them coins, do it for this reason. Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: okbit on October 14, 2017, 04:47:42 PM I don't disagree that most of the coins added SegWit just for marketing.
But Artbyte has the clearest purpose of any coin to add SegWit. Opening up the technology for smart contracts enhances Artbyte's mission and brings it to all types of artists, not just musicians (as musicoin did as an Ethereum token). It is not just the Artbyte Music Store (http://music.artbyte.me/) that will benefit, but writers, actors, visual artists, film makers - all artists will benefit Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: sunk818 on October 16, 2017, 06:29:58 PM If you want to support an artist long-term (trust, foundation, or even sugar daddy type situation), you need a smart contract that can dole out funds on a frequency you define. I'm sure there will be many uses via smart contracts, but this seems like the most obvious.
Title: Re: Are Segwit & smart contracts the key to Artbyte's growth? Post by: BlackTurtle on October 16, 2017, 06:37:35 PM I know waves is going to implement it also.
So I think more and more coins will have it. |