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DLTs (blockchains) solve the double spending problem in a decentral (trustless) way. Thats "the definition" and what separates it from other similar tech like g
by noxer 6y ago
DLTs (blockchains) solve the double spending problem in a decentral (trustless) way. Thats "the definition" and what separates it from other similar tech like git, a synced databases or a write-only database.
PoW/PoS are just rather stupid ways to implement this its not needed at all. Lookup federated byzantine agreement (FBA) for DLT systems without it.
- blockyhead 6y agoYou know, if you could come up with a better way to implement it, you could become a billionaire. But maybe you already are, everything is possible on HN.
- noxer 6y agoGo to XRPL.org its literally that and it exists since like 2013, It whole goal back then was to make a better bitcoin. Plenty other projects have adapted the concept or even forked the code. The core team behind this back when it was named opencoin are without a doubt millionaires now and some even billionaires. So you are right but it way way to late now. Not to says that there could not be a even better solutions. But its already several thousand times better if you compare raw metrics like speed/TPS/energy usage etc. an even better solution would likely not make that much of a difference again.
- blockyhead 6y agoRipple has issues, iirc. It is not "the" solution yet.
- noxer 6y agoRipple is a company. The XRPL is fully functional since many years.