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There's some serious kool-aid going on here, which is unfortunate, because they at least wrote that they're focused on non-speculative use cases. Contrary to th
by sarcasmic 8y ago
There's some serious kool-aid going on here, which is unfortunate, because they at least wrote that they're focused on non-speculative use cases. Contrary to the announcement's characterization, crypto-powered platforms don't inherently fulfill the promise of equitable decentralization and immutability.
Ethereum has already demonstrated that one is wise to worry if the rules of the game will change later on. And blockchains enable distributed, trustless consensus, but accomplish it with the majority (50%+1) of vested nodes in agreement, which manifests as either a tenuous truce based on human trust to avoid mutually-assured destruction, or as an anything-goes monopoly where the largest cartel wins. Hardly any different from easier, cheaper ways of accomplishing the same thing.
Bitcoin's innovation was incentive in the PoW block reward, Ethereum's was embedding a VM in the client. Everything else has been minor variations on prior art, or speculative bullshit.
- leppr 8y agoYour conclusion is fair, but at the same time, a certain number of these "minor variations" will one day be assembled into something just as revolutionary as Bitcoin and Ethereum were. If I had to guess I'd say some technology made out of the combination of blockchain, ZK-snarks, and an homomorphic computation enabler such as SGX enclaves, will probably be very disruptive to many many fields.