Notes Created By: LibertyBlock
This week Kedar introduced a pay-to-key tool that uses direct payments to EOS keys, enabling people to hold EOS without needing an account.
Check it out here.
How did the tool come about? (0:00)
Pay to Key was initially developed at a hackathon a few months ago. Usually, a user needs an account to make a transaction or hold EOS. With pay-to-key, a user does not need an EOS account to receive EOS and also enables Dapps to pay for people’s CPU.
Use-cases for the pay-to-key system (4:52)
Kedar is hoping the key system turns into a default way for people to interact with Dapps without having to know they are using a blockchain.
Demo status (6:03)
The version released a few days ago was a demo for the IQ token. Replay protection is almost complete, and a generic UTXO contract template for all tokens is in development.
Pay-to-key Roadmap (11:18)
Once nTimeLock is added, in theory, the UTXO contract will have EOS’ scalability as well as state channels. Also, private keys are the same for EOS and Bitcoin, so a fork of the contract can use Bitcoin instead of EOS addresses. At that point, a Bitcoin relay will be created to make a trustless swap method to move bitcoin into the EOS chain. Kedar is experimenting with running EOS or any EOS-based chain as a layer two solution for Bitcoin.
EEP6 Proposal (16:32)
EOS mainnet extensions are side-chains of the EOS mainnet which share user accounts with the mainnet via an account-synchronizing Oracle. This approach provides easy and linear horizontal scalability, which helps fully realize the scaling potential of EOS, and opens up competition for Dapps.
Find out more here.
Next Week’s Call
To be determined. Stay tuned for an announcement in the EOS Town Hall Telegram!