3 ms·
> SLAs -- something that a blockchain can't really offer. Hold on there, SLAs are actually something that blockchains are great at. Smart contracts provide cry
by px43 6y ago
> SLAs -- something that a blockchain can't really offer.
Hold on there, SLAs are actually something that blockchains are great at. Smart contracts provide cryptographic guarantees of service. In several of these types of systems, node runners must put up collateral as "stake" in exchange for collecting fees for their services. If a participant in the network identifies a misbehaving node (violation of SLA) then their stake can get slashed, or burned completely.
If a Filecoin node claims to be holding data for someone, but is unable to provide it in a timely manner when legitimately requested to do so, they're in for some serious penalties.
The great thing is that the consumer doesn't need to worry about some big company hiring expensive lawyers to weasel out of their contractual obligations. The rules are all readily transparent and enshrined as code that anyone can read and verify the validity of before participating.
- wmf 6y agoI think this speaks to the difference between what SLAs really are and what people wishfully think they are. People think an uptime SLA means "we will not go down much" but it really means "one day we will go down hard and we'll give you a refund (which will be insignificantly small compared to the pain we caused you)".