scartracs

DASH and NANO had several initiatives this past year to achieve adoption in Venezuela due to their humanitarian crisis. It was small, but there were some good results especially by DASH if we believe the media they produced. There was a movement to donate DASH/NANO and get merchants to accept it in exchange for goods. All merchants need is a sticker that displays their QR code and a terminal that can confirm the transaction, which can be done by any smartphone/tablet/computer/IOT with minimal effort. Keep in mind, this happened while DASH and NANO are quite unknown and all crypto was in a bear market, meaning there were few people following the projects that could donate and promote the events.

The hard part is not adoption within poverty-stricken nations, rather adoption in developed nations with complicated tax codes and lack of incentives for merchants to invest in more payment processing tech is the true challenge ahead.

1 - Attempts to side-step the law (however misguided the law is) -> Most are attempting to side-step credit card service fees while remaining open to transact across the world in real-time. Most popular CC's fail at the real-time part and cause unnecessary resource usage, but hopefully that will change. Actually, most CC's fail at trying to side-step the law given all transactions and account balances are public for most coins. You could say tax-avoiders prefer money they can hide through sketchy banks or cash rather than CC.

2 - Trivial to do using a typical centralized database (e.g. Federal Reserve or VISA) -> Bitcoin, Ethereum and others can do Smart Contracts which means delayed sending, multi-sender transactions that serve as escrow and in the case of Ethereum programmable using it's own language to do any number of actions/apps. The important feature is that this is handled by the network using your own transaction, you don't have to set up the escrow through a company like VISA, Paypal, etc.

3- Tantamount to waiting for a greater fool to buy out the current players -> This is true of all CC because it's an open, yet small market. The earlier you get in, the better your outcome. However, it's not like CC's NEED to explode in price to be useful, competitive or solve a real-world problem. Getting rich is a secondary effect of having a functional CC reach adoption. Look at MemeCoins like Doge and Banano to see adoption is easier when everyone abandons the idea of getting rich off a coin.

OK I'll bite. Nothing about the article or YT video is innovative, some of it is laughable.

Algorand's consensus per the YT video you linked is step 1. 1 user is randomly chosen to propagate a new block (can user make up a fake block? let's assume not) step 2. 1000 users randomly selected vote on that block and if they agree, it's DONE. (what if 1000 users are in the same country/company, etc. how do you prevent collusion on fake blocks)

This is hilarious. So the only thing you rely on for consensus is 1001 random 'users' input weighted by stake? What happens when your network is bombed with 1000tps and you need to contact 1001 staked users for every block? There are also vulnerabilities such as the recent "fake stake" bug that affect pure POS coins which I won't go into.

Now about the article referencing Vault. I believe NANO came up with this bootstrapping feature:

> Each user account only ever stores the balances of the accounts in its assigned shard

Yes they are replicating NANO's block lattice structure using "shards" with an insecure way of trusting any future chain that includes your old tx's but gives no guarantee on the state of any other account. As I understand it, I can be fed a fake chain while bootstrapping and accept phony funds as long as my balance shows up, right? ...Assuming this feature worked without any security holes, what's to stop other coins from implementing it? You don't need an entire cryptocurrency for it, it's just a feature and if it worked everyone would be using it. The sharding problem has not yet been solved and there are coins like Ethereum that are trying really hard to make it happen.

It's really sad to see this low-quality content come out of MIT. This looks like someone trying desperately to get a piece of the Crypto pie using MIT's reputation as a get rich quick scheme. Just for kicks I looked through reddit/r/cc and found only 5 dead posts mentioning Algorand with no comments on any of them. Their website makes all these claims about "pioneering a sortition algorithm" that looks "totally legit" if you ask me.

Thanks this is exactly what I was looking for. Found out it's called identity management on AWS as well as other services like Auth0 and Okta.

NANO uses both a DAG and blockchains. The DAG itself is nothing more of a way to say transactions don't have to wait for blocktimes, they just show up as they happen instead of waiting in line for the network.

In NANO every account is a virtual blockchain. This means when you want to send funds, you have to "mine" a low-difficulty block on your own account and simply publish the results of that block to the network. No one does any real mining in NANO, you can think of "mining" your own blocks the same as signing or encrypting messages. Check out https://nanospeed.live for a speed test.

I'm not related to their team or that website and I don't own NANO, but I do follow their news and liked that site.

This was a great talk from a FreeBSD dev praising systemd and putting it in a different perspective. He did a great job of explaining the relevant Unix history as well.

My power is out so I can't browse too much atm. I vaguely remember the Google beacon being a always-on notification that launched a website link pressed. How well does that work in android and iOS? Would it be feasible to make an "SOS help" beacon and expect every phone nearby to be notified or similarly spammed with an ad message?