Re:Facebook’s New Cryptocurrency Gets Big Backers
by c0wb0yc0d3r on Friday June 14, 2019 @12:22AM
(#20180560)
I can't read the article in it's entirety but decentralisation is not what makes a crypto currency a crypto currency. Visa, Master card, Joe shmoe, anyone can start a centralized ledger that uses crypto.
[ Parent
| on HN ]
Re:Facebook’s New Cryptocurrency Gets Big Backers
by colordrops on Friday June 14, 2019 @12:32AM
(#20180603)
What sort of crypto? Just hiding the ledger behind SSL or encrypting the data is not what makes the "crypto" in cryptocurrency.
Re:Facebook’s New Cryptocurrency Gets Big Backers
by glitchc on Friday June 14, 2019 @09:14AM
(#20182662)
Neither does calling it crypto, which stands for cryptography. Call it distributed ledger technology or blockchain for specific popular variations.
Re:Facebook’s New Cryptocurrency Gets Big Backers
by colordrops on Friday June 14, 2019 @11:39AM
(#20183852)
Unlike a centralized ledger, a distributed ledger could not exist without cryptography.
Re:Facebook’s New Cryptocurrency Gets Big Backers
by SI_Rob on Friday June 14, 2019 @10:49AM
(#20183459)
I would strongly disagree here. Decentralization, though a term fraught with poorly acknowledged and contradictory premises, is essentially the defining value proposition of cryptocurrency.
Take away decentralization (which I would be more comfortable calling "aspirational decentralization" to reflect actual practice) and cryptocurrency is indistinguishable from conventional electronic currency.