4 ms·

If you read the article, you would see that just the node with signs the transaction as legit was taken offline for the moment while they work on it. Your defi

If you read the article, you would see that just the node with signs the transaction as legit was taken offline for the moment while they work on it. Your definition of crypto currency and decentralised currency is conflated too.

vinniejames 7y ago
The very existence of "the node" makes it not a cryptocurrency
- Uberphallus 7y ago
  It's a cryptocurrency, just not decentralized.
  - kim0 7y ago
    That makes it a PayPal not a crypto-currency
  - byte1918 7y ago
    I would have agreed with you but after checking wikipedia, decentralization is actually the first requirement for it to be called a cryptocurrency. > 1. The system does not require a central authority, its state is maintained through distributed consensus. https://en.wikipedia.org/wiki/Cryptocurrency#Formal_definition https://en.wikipedia.org/wiki/Cryptocurrency#Formal_definiti... https://www.merriam-webster.com/dictionary/cryptocurrency https://www.merriam-webster.com/dictionary/cryptocurrency
    - true_religion 7y ago
      The codebase doesn't require a central authority, but in practice all keys for top level auth are held by the same entity.
      - bawolff 7y ago
        Sort of like how society doesn't require me to not be a billionaire, but in practise i'm not a billionaire. Code not deployed and probably never tested (perhaps never even worked) does not count.
  - lawn 7y ago
    Decentralization is one of the defining traits of a cryptocurrency. It's like saying a car is an airplane, but without wings. It just doesn't make sense.
    - ClumsyPilot 7y ago
      Actually it does - even a centrally run crypto has verifiability and other properties that naive "central-database" system does not. Furthermore, you can run like a consortium style crypto currency, where its jointly controlled by multiple organisations.
      - bawolff 7y ago
        I doubt it. What properties specificly? Hell even bitcoin doesn't have a great notion of verifability (verify what? No double spending? Lets hope your opponent doesn't control 33% of the hash power.). Central-db systems can issue recipts (like humans have been doing for thousands of years). Centralized cyrptocurrencies basically offer the same protection at best and much less at worse.
abstractbarista 7y ago
You just proved OP's point. Cryptocurrency which isn't seriously decentralized is pretty pointless - you might as well just go back Wells Fargo and an Oracle DB.

vinniejames 7y ago

The very existence of "the node" makes it not a cryptocurrency

Uberphallus 7y ago
It's a cryptocurrency, just not decentralized.
- kim0 7y ago
  That makes it a PayPal not a crypto-currency
- byte1918 7y ago
  I would have agreed with you but after checking wikipedia, decentralization is actually the first requirement for it to be called a cryptocurrency. > 1. The system does not require a central authority, its state is maintained through distributed consensus. https://en.wikipedia.org/wiki/Cryptocurrency#Formal_definition https://en.wikipedia.org/wiki/Cryptocurrency#Formal_definiti... https://www.merriam-webster.com/dictionary/cryptocurrency https://www.merriam-webster.com/dictionary/cryptocurrency
  - true_religion 7y ago
    The codebase doesn't require a central authority, but in practice all keys for top level auth are held by the same entity.
    - bawolff 7y ago
      Sort of like how society doesn't require me to not be a billionaire, but in practise i'm not a billionaire. Code not deployed and probably never tested (perhaps never even worked) does not count.
- lawn 7y ago
  Decentralization is one of the defining traits of a cryptocurrency. It's like saying a car is an airplane, but without wings. It just doesn't make sense.
  - ClumsyPilot 7y ago
    Actually it does - even a centrally run crypto has verifiability and other properties that naive "central-database" system does not. Furthermore, you can run like a consortium style crypto currency, where its jointly controlled by multiple organisations.
    - bawolff 7y ago
      I doubt it. What properties specificly? Hell even bitcoin doesn't have a great notion of verifability (verify what? No double spending? Lets hope your opponent doesn't control 33% of the hash power.). Central-db systems can issue recipts (like humans have been doing for thousands of years). Centralized cyrptocurrencies basically offer the same protection at best and much less at worse.

abstractbarista 7y ago

You just proved OP's point. Cryptocurrency which isn't seriously decentralized is pretty pointless - you might as well just go back Wells Fargo and an Oracle DB.