3 ms·
> We can do consensus in many (much cheaper) ways. Agreed, but that's why we're working on proof of stake systems. With BFT algorithms, consensus can also be m
by dlubarov 8y ago
> We can do consensus in many (much cheaper) ways.
Agreed, but that's why we're working on proof of stake systems. With BFT algorithms, consensus can also be much faster, on the order of 1 second.
> Most people don't want their transactions or legal agreements published to the world. [...] And [companies] rarely want the public to know about their contracts, let alone their inventory details.
Also agreed, but that's why we're working on systems with better privacy, using tools like ring signatures (Monero), zk-SNARKs (ZeroCash), Bulletproofs (future Monero?), and zk-STARKs.
Private smart contracts are tough, especially if random access is needed, but it's doable with a scheme like TinyRAM.