Re:Transaction Costs and Tethers: Why I’m a Crypto Skeptic
by nivertech on Wednesday August 01, 2018 @07:57AM
(#17661646)
> Secure, trustless, decentralized consensus. Or in practical terms - a ledger database that everyone can write into without having to trust third parties to maintain correctness.
It's still an unsolved problem.
The way Bitcoin and clones solve it, is by delegating consensus to one level up - i.e. consensus over the right fork (see [1,2,3]).
It's like saying that you agree that Trump is a legitimate president as long as you are a republican.
It's still an unsolved problem. The way Bitcoin and clones solve it, is by delegating consensus to one level up - i.e. consensus over the right fork (see [1,2,3]).
It's like saying that you agree that Trump is a legitimate president as long as you are a republican.
[1] https://twitter.com/nivertech/status/943468719241682944
[2] https://twitter.com/nivertech/status/964591507457171456
[3] https://twitter.com/nivertech/status/900767515214835712