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Ethereum's ecosystem cannot optimize for running dapps because the true value of its token is dynamically determined byt he blockchain network, for whatever val
by kang 9y ago
Ethereum's ecosystem cannot optimize for running dapps because the true value of its token is dynamically determined byt he blockchain network, for whatever value the minimum of its token provides. For eg, a gas is worth whatever the world wants to pay for it to use it as a unit of calculation on the world computer. To accurately measure the effort spent by the network to ensure the unit value of its token , we need a DMMS algorithm(as described in the sidechains paper) & which is nothing but a proof-of-work blockchain.
Each primitive operation needs its own blockchain for its value to be determined accurately. When multiple token are implemented over a single blockchain, for eg colored/custom coins, it cannot accurately measure the value of a unit.
In case of functional language, one could perhaps imagine a lisp blockchain with paul graham's 7 primitives implemented as an opcode (stack based interpretor is irrelevant), which would be turing complete but will suffer from the problem of determining the true value of each opcode; the cheapest one will always be abused as evident on ethereum (suicide function's cheapness was spammed).