RE: Anything you need to know in under 900 words - 4 min read
The Hive.Loans site is actually going to be built utilizing smart contracts running on a new HIVE sidechain called Hive Smart Chain (HSC). HSC will be focused around a truly decentralized Byzantine Fault Tolerant Bonded Proof of Stake hybrid consensus structure which will allow for HIVE to be bonded or "powered up" in a fashion similar how it is done now on the HIVE network, but instead of the Bonded HSC HIVE acting to fuel your blog votes it instead will unlock your ability to produce HSC blocks, which when produced will result in the miner being awarded majority of the HIVE gas fees of the HSC network.
The plan is to build a number of cross side chain and cross blockchain bridges to provide atomic and plasma style cross chain asset interoperability. Which is basically a fancy way of saying that the HSC will be able to basically support any sort of ERC-20, ERC-721 or any other external ETH, BnB, etc etc protocols provided a bridge on the target network in question is implemented by a 3rd party or your own devs. Collateralization of other asset types is certainly something that can and will be in the future.
The sidechain will act as a gateway hub between our own side chain projects here on HIVE but also for external chains as well using custom or IBC cross platform bridge modules as well as with smart contracts contracts depending on the asset type.
The HE stuff will be bridged quite early on with HSC and Hive.Loans is going to include some additional code I'll not be using personally but that will enable usage of other token types to run on the site.