🔗 Seele blockchain adoption and real world use cases
Before I’m diving into the real world use cases for the Seele blockchain, I believe it is in order to first briefly discuss what the Seele project entails.
✅ In short, Seele positions itself as a blockchain 4.0 by trying to solve the problems faced by previous blockchain generations. For instance, Bitcoin (generation 1.0) can only perform a few transactions per second (TPS), making it really slow and in its current state unpractical to be used as a mainstream blockchain solution. Ethereum (generation 2.0), improved on Bitcoin by adding smart contract functionality and allows for 10 to 30 TPS, which is still too slow. Projects such as EOS/Quarkchain (generation 3.0), strive to reach a million TPS; however, by doing so they compromise either on efficiency or security. This phenomenon is known as the blockchain trilemma, arguing that with current blockchain technology it is difficult to improve upon either scalability, security or efficiency; without compromising on the other ones.
This is where Seele comes in. Seele tries to improve upon existing blockchains by creating a new blockchain infrastructure that is capable of increasing scalability and efficiency, but without compromising on security.
✅ In their white paper Seele identifies a number of pain points that hold back the development and mainstream adoption of current generation blockchains. For instance, regarding decentralized app (DAPP) development on the Ethereum blockchain the following issues still exist.
➡️ Despite Ethereum’s rich development tools and framework, there are still a lot of imperfections to overcome. It is still very complicated to find the correct tools to use, due to the differences on usages of varying languages and frameworks.
➡️ Up-to-date documentation is lacking or hard to find. This can be very frustrating for developers that are trying to build Dapps and are constantly coming across messy and outdated documentation filled with examples that do that not work anymore. However, In Ethereum’s defence Ethereum is still in development and things tend to change quickly, hence it is very difficult and time consuming to keep the documentation consistent and up-to-date.
➡️There doesn’t exist a perfect cross-platform access solution yet. Although it is now easier to develop web applications, many mobile applications don’t have multi-terminal access function resulting from imperfect Software Development Kit (SDK) support.
➡️ A perfect begin-to-end guideline still needs to be produced that guides the developer from the beginning for the development through the testing and deployment phase of the entire smart contract/DAPP.
✅ As a response to these pain points Seele is planning to develop the SeeleEditor. With their SeeleEditor Seele is trying to do something similar as what Unity did with their Unity 3d engine. The Unity 3D engine is a set of tools to facilitate game development and the deployment of games on different platforms.
When finished the SeeleEditor, should consists of:
➡️ A complete application development tool that will support the development, testing, and deployment of smart contracts.
➡️ Cross-platform SDK support and prompt updates of documentation.
➡️ A build-in store for plug-ins, similar to the Unity asset store, providing contract development components and sample programs to improve development efficiency.
➡️ An Integrated Development Environment (IDE) providing support to developers and making sure that problems can be quickly resolved.
✅ Current generation blockchain technology has already been employed for various use cases, such as: financial assets transaction, token issuance and prediction markets. However, since Seele is planning to become a decentralized cloud computer capable of doing a million TPS, a much richer set of applications are possible on the Seele blockchain. When the Seele blockchain is finished, it should be possible to develop and run the following application types.
➡️ Videogames. As the Seele blockchain will be able to scale up to 1 million TPS, it becomes more viable to run videogames on the blockchain. Most of you will probably know of CryptoKitties, the videogame that congested the Ethereum blockchain, resulting in very slow transactions and high transaction fees. However, with 1 million TPS the blockchain is less likely to congest and become sluggish.
The benefit of running games on the blockchain are: a secure way of storing game-related data, since the ledger is immutable and transparent, there can be no arguments over how things evolved. Trading in-game assets is safer using the blockchain. Also, players truly own the rewards they receive, as this data will be stored forever, even if the game developer abandons the project.
However, before the gaming industry can incorporate blockchain technology, a better infrastructure is needed to support game development. And that is what Seele wants to accomplish.
➡️ Social platforms. With Seele it will be possible to build social platforms, similar to SteemIt, that can be used to tokenize content and reward content creators based on the quality of their work. In addition, by using blockchain technology it becomes harder to manipulate votes or likes, reducing the possibility of maladaptive behaviour by people who only want to benefit by cheating the system.
➡️ The Internet of Things. Blockchain is pre-eminently suitable for the Internet of Things, because of its superiority in distributed calculation, data management, security and transparency. However, due to the high power consumption and inefficiency of current generation blockchains, it is not yet quite feasible. Since Seele’s blockchain consumes less power, it should be a suitable platform for the Internet of Things.
Seele also claims that their hierarchical consensus mechanism has great advantages over IOTA’s algorithm which, according to Seele, cannot completely avoid “double spend” and DDOS attacks.
➡️ Many more enterprise applications. Since Seele makes us of a heterogenous forest-chain structure, it’s possible to create an application chain for one specific enterprise application. In addition, a variety of customized services can be developed on it. Through Seele’s Naming Value Transfer Protocol, these enterprise applications can also directly make cross-blockchain communication and transfer data between each other, hence bringing flexibility to the various enterprise applications.
✅ To conclude the Seele blockchain offers many possibilities for new and improved application that could really fast-forward mainstream adoption of blockchain technology. How fast this will go is hard to predict; but if Seele can deliver on their promises they can play a key role in advancing blockchain’s development and mainstream adaption. I will keep an interested eye on the Seele project and I will closely follow Seele’s progress over the next couple of months.