Re:DeFi risks and the decentralisation illusion
by ece on Wednesday December 22, 2021 @04:18PM
(#29655367)
For a hot minute I thought there might be truly scalable and cheap POS DeFi system with validation running on my phone. If this was an easy technical problem, an answer would already exist. There are plenty of POW/pre-mined/centralized coins, but even ETH/DOT have little to show in terms of progress here. POS/POW DeFi blockchains haven't scaled so far despite plenty of tries. This is fact, and hard to refute. Just look at transaction fees, TPS, and level of centralization.
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Re:DeFi risks and the decentralisation illusion
by delabay on Wednesday December 22, 2021 @06:36PM
(#29656854)
"Little to show"? You're not paying attention.
Re:DeFi risks and the decentralisation illusion
by ece on Wednesday December 22, 2021 @09:27PM
(#29657963)
You seem to like Helium, and I see that their gateways cost ~$1000, where as The Things Network seems to point you to RPi hats at ~$200. If the crypto innovation is effectively making the network more expensive to use and increasing the cost to build it, all so the operators/miners can earn a little on the side, this doesn't seem like innovation at all. Seems like you could do this with some sort of micro payment scheme (where the initial cost can be paid off), especially since LoRa seems to cater to industrial IoT mostly.
If you had a solar powered Things Network, it would be effectively free to use, and you could add more nodes as required at a cheaper cost.
Re:DeFi risks and the decentralisation illusion
by delabay on Thursday December 23, 2021 @10:42AM
(#29662886)
Helium has solved the coverage problem through creating deployment incentive. You're missing the point of helium to such a large degree your post almost sounds like satire.
Re:DeFi risks and the decentralisation illusion
by ece on Thursday December 23, 2021 @01:31PM
(#29664823)
Someone looking at TCO might think differently. Someone looking at expanding the network at 5x the cost likely would think differently.
LoRa also seems to be a proprietary standard owned by a single company, regardless, there have been mesh networks built with public and private funding that do not artificially keep costs high for longer than needed. If this isn't the goal for Helium, it would be tough to recommend or use.