On June 15, 2017 Swarm City released the first hashtag on the Boardwalk, #pioneer
See the code, Swarm City Github
To visit the Boardwalk, enter here
What is a hashtag?
- a smart contract that specifies the context by which users transact on the blockchain
What can a hashtag do within the Boardwalk?
- each hashtag automatically performs commerce functions under certain conditions; like holding funds, exchanging funds, and creating reputation tokens
How does a transaction happen between users within a hashtag?
- when a request is placed the hashtag smart contract automatically pulls the payout amount from the requester's wallet
- the funds go into a smart contract
- others can respond to requests by offering a deposit into the hashtag smart contract
- the requester finalizes the transaction by selecting a provider, and then signals when the deal is complete
- the hashtag smart contract sends those funds to the service provider along with their initial deposit
- reputation tokens are minted for both parties upon completion of the transaction
Where are the funds stored during the transaction before contract completion?
- in a smart contract on the blockchain, the automatic functions of the smart contract take place of escrow agents and payment processors, thus creating a trustless transaction without third party participation
What hashtags are available now?
- #pioneer is the first and only hashtag available for unspecified open commerce as of September 1, 2017
What are reputation tokens used for?
- early adopters receive and hold unique reputation tokens for eternity to reflect thier activity and longevity on the platform
Who can create a hashtag?
- in the next phase of the Boardwalk every user will have the ability to create and maintain a hashtag
How does creating a hashtag work?
- from the hashtag index screen, select the (+) symbol
- the hashtag is an Ethereum smart contract that can be created in exchange for SWT to cover the required processing power required
- the hashtag must have a description explaining the context of expected commerce, a contact link to provide support, and a name
- set the hashtag fee, which is the fixed amount automatically deducted from all transactions and paid out to the hashtag creator
- the hashtag creator must also maintain the hashtag using the fees deducted from the transaction and can also allocate fixed amounts to compensate additional hashtag maintainers
- the hashtag short url is then produced to the hashtag creator and is ready for commerce
**to be continued