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> That irrecoverable failure mode is one of the core design flaws of cryptocurrency No reason it has to stay that way in all cases. There are many solutions su
by mattwilsonn888 5y ago
> That irrecoverable failure mode is one of the core design flaws of cryptocurrency
No reason it has to stay that way in all cases. There are many solutions such as layered approaches, semi-custodial services, community forgiveness.
- acdha 5y agoIt’s designed in at the base level — that immutability is a feature for most proponents: if you don’t have it, you’ve just paid a lot more for a very slow database.
- mattwilsonn888 5y agoYou're operating under a binary understanding. Forks are the very obvious proof that what you say is wrong - they are a primitive way of settling disputes but a good starting point none the less. Token governance is the next step from forking that isn't so arduous. With proper governance, the community around a token can come to a consensus that a mistake led to irrecoverable funds (for example) for one user and if the amount is worth the time issue a proposal and vote on minting replacement tokens for that user. Token holders are the share holders of their protocol, no reason all the normal operations that make a business safer for users can't be implemented in token contracts. Try not to confuse the current state with what's possible.