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- preventing double spend in a distributed ledger - creating a secure timestamped append only log of signed messages - apps like multisig wallets, privacy pre

- preventing double spend in a distributed ledger - creating a secure timestamped append only log of signed messages - apps like multisig wallets, privacy preserving rollups, cross-site attestations - creating a global namespace registry for social networks[1] - building other things on top of these primitives, like disintermediated collectibles for games, art, web communities.. [1] https://www.varunsrinivasan.com/2022/01/11/sufficient-decentralization-for-social-networks https://www.varunsrinivasan.com/2022/01/11/sufficient-decent...

dogweather 4y ago
Those are definitely blockchain features or benefits. But crypto(currency)? I'm not sure.
- mattdesl 4y ago
  A crypto currency like ETH acts as the gas that secures the network and all the above use cases. A program (smart contract) can itself also become a token and currency: USDC and CryptoPunk NFTs are just different software programs running on the ledger that maintain their own state of user balances.
exelib 4y ago
Why do you need a blockchain for that? Some of points are pretty artificial.
- mattdesl 4y ago
  It always comes down to trust models, (de)centralization, and whether it’s permissioned or permissionless. For example multisigs, without crypto, require a trusted and centralized custodian, and if you are lucky you might get a permissioned API that exposes a few end points that were dreamed up by engineers at Stripe or some new tech-startup digital bank.
  - exelib 4y ago
    I'm still not sure I understand you. And you know, decentralization doesn't mean that there is no regulation.
    - mattdesl 4y ago
      Of course, using a crypto multisig doesn’t give you a pass on the law. The closest example might be to point to TCP/IP which makes up the web and is (pretty) decentralized. Companies and even monopolies compete on top of this protocol but no single company wholly owns it. Although, ensuring decentralization tends to be a much more strongly considered goal in blockchains than what we’ve seen on the internet. It’s a long read but “The Crypto Story” does a pretty great job at distilling some of the motivations: https://www.bloomberg.com/features/2022-the-crypto-story/ https://www.bloomberg.com/features/2022-the-crypto-story/

dogweather 4y ago

Those are definitely blockchain features or benefits. But crypto(currency)? I'm not sure.

mattdesl 4y ago
A crypto currency like ETH acts as the gas that secures the network and all the above use cases. A program (smart contract) can itself also become a token and currency: USDC and CryptoPunk NFTs are just different software programs running on the ledger that maintain their own state of user balances.

exelib 4y ago

Why do you need a blockchain for that? Some of points are pretty artificial.

mattdesl 4y ago
It always comes down to trust models, (de)centralization, and whether it’s permissioned or permissionless. For example multisigs, without crypto, require a trusted and centralized custodian, and if you are lucky you might get a permissioned API that exposes a few end points that were dreamed up by engineers at Stripe or some new tech-startup digital bank.
- exelib 4y ago
  I'm still not sure I understand you. And you know, decentralization doesn't mean that there is no regulation.
  - mattdesl 4y ago
    Of course, using a crypto multisig doesn’t give you a pass on the law. The closest example might be to point to TCP/IP which makes up the web and is (pretty) decentralized. Companies and even monopolies compete on top of this protocol but no single company wholly owns it. Although, ensuring decentralization tends to be a much more strongly considered goal in blockchains than what we’ve seen on the internet. It’s a long read but “The Crypto Story” does a pretty great job at distilling some of the motivations: https://www.bloomberg.com/features/2022-the-crypto-story/ https://www.bloomberg.com/features/2022-the-crypto-story/