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Imagine a peer goes offline and stuff happens on the network while its offline, when the peer goes back online what state does it follow, remember that it is a
by c01n 5y ago
Imagine a peer goes offline and stuff happens on the network while its offline, when the peer goes back online what state does it follow, remember that it is a decentralized network what peer does it trust? This is where the chain of verifiable transactions come in. Also with this setup it is kind of easy to prevent double spending.
> BTW cash does not have a recorded Tx history
Sorta... The central banks know every coin that has been created and notes that have been printed. When you fill in your Tax forms you are creating this Tx history manually.
- noxer 5y agoNot a problem if its a DLT with final state. You just need to request the hash of the final state from enough nodes to assure its the real deal. They would all need to lie the same way to trick you. If they are all compromised then the system is rendered useless anyway. Also basic properties like the total amount of tokens can be validated on the last state alone. You can assure no one added more tokens simply by summing all balances. You dont need any history data for that. >Sorta... The central banks know every coin that has been created and notes that have been printed. When you fill in your Tax forms you are creating this Tx history manually. Yeah no, you are moving and stretching the goal post to far here. Notes are unique but that's not a Tx history at all and neither is a Tax form.
- deleted 5y ago[deleted]
- tsimionescu 5y agoSo you put the series numbers of each bank note on your tax forms? That must take a pretty long time...