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decentralization and trustlessness I would say are the big two. With Libra its pretty clearly controlled by large tech companies so validating on the network i
by cdiddy2 7y ago
decentralization and trustlessness I would say are the big two.
With Libra its pretty clearly controlled by large tech companies so validating on the network isnt open to anyone. This means it not decentralized in my book. You also have to trust that the dollars or dollar equivalents are behind every token on the Libra network, this isnt the case in bitcoin/ethereum since there isnt an attempt to use dollar backed tokens at the base layer
- buboard 7y agoi think we need a new word for decentralized currencies /chains.
- swift532 7y agoIt feels like a defeat, though, to have the word cryptocurrency co-opted by things such as this. Wouldn't it be easier to call this bullshit, and decentralized currencies cryptocurrencies? /s
- buboard 7y agoi actually think the term is accurate. cryptocurrency = currency based on cryptography. we need a different term for "decentralized/trustless currency"