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It's a currency based on cryptography, let's not try to exclude projects based on random definitions. You want to be more specific, like, it is not censorship-r
by efwfwef 6y ago
It's a currency based on cryptography, let's not try to exclude projects based on random definitions. You want to be more specific, like, it is not censorship-resistant.
- fastball 6y agoOk, but the cryptography is pointless if it's a centralized system.
- petersellers 6y agoHow so?
- martinko 6y agoBecause you might as well just use an SQL database
- pat2man 6y ago“Proof of authority” chains are a lot more than just a database. There is still a verifiable audit trail etc.
- px43 6y agoEh, last I checked the five primary validator nodes are all run by Ripple.com. Not really "POA" when there's only one authority IMO.
- saberdancer 6y agoNothing stops you from having a verifiable audit trail in a SQL database. You could even decentralize the audit trail. Problem with Ripple is creation of new XRPs, they had full control over that.
- waynesonfire 6y agoso a sql database
- harkal 6y agoSo files with indexes... so storage devices with a file systems... so... so bits of information...
- jnwatson 6y agoSo, a database plus digital signatures.
- ForHackernews 6y agoFWIW, this is how I feel about every crypto-so-called- "currency".
- martinko 6y agoDon't want to get into an argument about crypto currencies, but the value proposition of BTC is different. What is not replaceable by a simple DB is it decentralization and resilience to attack, its resistance to seizure and its incorruptibility in terms of maximum supply (the digital gold / store of value narrative).
- ForHackernews 6y agoIt's worth highlighting that there are distributed databases that meet all those criteria except "incorruptibility in terms of maximum supply". You're right to point out that there are a few very specific use cases that a distributed blockchain with multiple independently-owned verification nodes will satisfy and other more performant databases will not. Whether that makes them "valuable" like gold is left as an exercise for the reader.
- ric2b 6y agoDistributed is not the same as decentralized. A decentralized system is a distributed system that still works _when nodes are owned by multiple different (even competing/malicious) parties_.
- fastball 6y agoExactly. In other words, a "trustless" system. See the Byzantine Generals Problem[1]. [1] https://en.wikipedia.org/wiki/Byzantine_fault https://en.wikipedia.org/wiki/Byzantine_fault
- ForHackernews 6y agoyes, yes, I said that already: "...multiple independently-owned verification nodes..."
- icf80 6y agoyou hold the key to decide what to do with the funds
- fastball 6y agoWhich Ripple can invalidate if they control the network, which they do.