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My hope is that tokenized ledger-based distributed consensus mechanisms win, while using them as a currency loses. Like, what if the correct price for a good c
by frazbin 5y ago
My hope is that tokenized ledger-based distributed consensus mechanisms win, while using them as a currency loses. Like, what if the correct price for a good cryptocurrency is low?
- amin 5y agoWhat's a "tokenized ledger-based distributed consensus mechanism" in plain English?
- frazbin 5y agoi was thinking of algorand, personally.. but all cryptocurrencies are 1. tokenized: we care about moving 'units' of 'value' between 'accounts' 2. ledger-based: having an immutable record of previous state changes 3. distributed: progression of state is determined by many participants who may not share a common goal 4. consensus mechanism: this is what the system gives us: a set of rules which if followed allow parties to agree on the contents of the ledger.
- 3np 5y agoWe tend to call this "blockchain", but it's a bit of an overloaded, abused and misunderstood term so it can help to be specific.