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Blockchains, in part, provide the following value proposition: Provable [X] without a central authority. [X] can be the following: Ex. Currency - Bitcoin C
by siavosh 9y ago
Blockchains, in part, provide the following value proposition:
Provable [X] without a central authority.
[X] can be the following:
Ex.
Currency - Bitcoin
Computation - Ethereum
Anonymous currency - ZCash
Storage - Filecoin
etc.
Most of us would agree that central authority is too strong in many aspects of the economy and technology. The key question is for what values of [X] does the value proposition make sense? The core technology is less than 10 years old, anyone being too confidant in where this road goes should put it in a larger timeline. Besides not losing your money, as hackers we can only explore what may be possible.
- Goladus 9y agoProvable [X] without a central authority. Under a limited set of conditions, with some cost [Y] to keep the system running. The bitcoin network is extremely expensive, for example. The key question is for what values of [X] does the value proposition make sense? The key question is for what values of [X] - [Y] does the value proposition make sense. And, what contextual conditions must be maintained to preserve the decentralization advantages of [X]? In other words, the transactions could be decentralized and anonymous but if you have to sign up for a centralized exchange to participate, those benefits might be moot for you.