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What about algorithmic stable coins like Dai, Terra, Fei, USDN, or cUSD? You still move them using your private key, but at least there's no centralized blockli
by _nhynes 5y ago
What about algorithmic stable coins like Dai, Terra, Fei, USDN, or cUSD? You still move them using your private key, but at least there's no centralized blocklist.
- oleganza 5y agoThe trusted party there are price oracles. Plus, matters are muddied by the "governance" usually built-in which adds another trusted parties who are supposed to do emergency interventions (like Fed does ;-) I don't mean to be mean, but if you have a fundamental security issue, "solving" it with a complicated protocol that still has the same security issues deep at the core, sounds like "scam" to me. Venmo, PayPal and Bitcoin are fair in their offerings: you know who you trust with what and that's the security model without any sugarcoating.