Introducing the Simple Assets MultiSig

CryptoLions
May 16 · 2 min read

github: https://github.com/cryptolions/simpleassets

We are creating a Multi Sig for Simple Assets on the Mainnet with the following block producers and community members:

Aloha EOS
CryptoLions
EOS 42
EOS Asia
EOS Cafe Block
eosDAC
EOS New York
EOS Metal
Scatter
sw/EDEN

What does this mean?
This decentralizes control of the Simple Assets deployment to the mainnet as simpleassets .

It means that owners of digital assets created simpleassets can be sure no malicious or careless changes will effect their assets. Multiple trustworthy parties will have to approve updates.

Why is a multi-sig important?

Self-deployed asset issuing contracts do not create the decentralized expression of ownership that the word “blockchain” generally conveys. Users should know who they are trusting when they take ownership of digital assets.

More on this topic here: Digital Assets — we need to think about “Ownership Authority”

A multi-sig helps guarantee that no harmful or erroneous changes to the code upon which Simple Assets rely.

What is Simple Assets?

Simple Assets is an elegant, powerful Digital Asset standard for EOSIO blockchains.

For users, it’s a guarantee of ownership of digital items.

For developers, it saves hundreds of hours, and also makes their assets available for buying, selling and borrowing on various market places.

Simple Assets supports for fungible and non-fungible tokens, renting assets, containerizing them, batch functionality, alerts for easier tracking, and more.

How can a dapp use Simple Assets?

There are two ways:

1) They can call the contract simpleassets on the EOS mainnet. (We are in the process of deploying it to sister chains as well.) The contract is like a Dapp for Dapps. To ensure that control of the contract is decentralized, we are creating the multisig described above.

2) Dapps can take our opensource standard and deploy it themselves with our without modifications. The mutlisign described in this article would then not apply. In this case the onus is on the Dapp.

Wouldn’t it be great if there was an easy way for Dapps to sign up for such a multi-sig, so they can’t update their code without some controls?

Great idea. We’re working on it. Stay tuned.

Learn more about Simple Assets here: https://github.com/cryptolions/simpleassets

🦁🦁🦁

CryptoLions is an EOS Block Producer based in Ukraine. We strive to make EOS more valuable by building projects that improve the ecosystem, by setting the standard for transparency and accountability, and by popularizing EOS all over the world.

website: http://cryptolions.io/
github: https://github.com/CryptoLions
telegram: https://t.me/CryptoLions_io
steemit: https://steemit.com/@cryptolions
twitter: https://twitter.com/EOS_CryptoLions
medium: https://medium.com/@cryptolions/
youtube: https://www.youtube.com/channel/UCB7F-KO0mmZ1yVBCq0_1gtA

CryptoLions

Written by

EOS Block Producer — https://cryptolions.io

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