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Those are on-chain transactions. Coinbase and many other wallets now support offline, or 'Instant Sends' which is more akin to the simple database update that
by aeternum 5y ago
Those are on-chain transactions. Coinbase and many other wallets now support offline, or 'Instant Sends' which is more akin to the simple database update that PayPal/Visa performs.
Sure those aren't purely decentralized but a decentralized settlement layer is probably where most of the value is anyway.
- chromaton 5y ago>a decentralized settlement layer is probably where most of the value is anyway. Why?
- aeternum 5y agoGraph theory. A purely centralized topology has significant problems with fault tolerance, trust, and control. However you do not need a hyperconnected graph to achieve strong fault tolerance and protect against a single node with full control. The internet itself is a good example. It strikes a balance between decentralization and efficiency through the use of ISPs as supernodes.
- jayd16 5y agoWhy is that more novel than, say, intra-bank transactions?
- tootahe45 5y agoYou can't make a huge return holding USD. We just need to pretend this is real adoption to recruit more to the ponzi.
- aeternum 5y agoThose intra-bank transactions that are still done via FTP, take 2-3 days to settle, and require owning a bank in order to participate? Yes, I suppose there's no room for improvement there.
- Ar-Curunir 5y agoIf I wanted that, I would be using something like Venmo, instead of Bitcoin.