3 ms·
> But I would be receiving a physical object, correct? Incorrect. The lockdrop is for completely virtual Kong token. > Yeah, this is an example of a problem t
by ccamrobertson 7y ago
> But I would be receiving a physical object, correct?
Incorrect. The lockdrop is for completely virtual Kong token.
> Yeah, this is an example of a problem that becomes much more likely if you share "printing rights".
Correct, as elucidated above. Likewise each Kong self generates its own private key by design, as outlined in section 2 of the paper. By design, the key is non-extractable.
> Ultimately, I remain unconvinced — this is as proposed today a centralized currency that is almost strictly worse than a government currency
We can't inflate Kong infinitely unlike every other paper fiat currency. We can only print Kong for four years. After that the only digital Kong produced is via lockdrop.
- arcticbull 7y ago> We can't inflate Kong infinitely unlike every other paper fiat currency. We can only print Kong for four years. After that the only digital Kong produced is via lockdrop. So what? As soon as you share printing rights the other party can. So can anyone else who has the private key. Not even by minting new Kong but by physically duplicating existing Kong. That's a much bigger problem than a well controlled 2% rate of inflation.