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Monopoly money does prevent spam. In decentralized networks preventing people from DDOSing the network becomes extremely important and very difficult.
by seibelj 4y ago
Monopoly money does prevent spam. In decentralized networks preventing people from DDOSing the network becomes extremely important and very difficult.
- pornel 4y agoThat doesn't work nearly as well as you'd expect. Spammers have money. For them it's merely a cost of doing business and they'll spam as long as there's positive ROI. For something like politically-motivated disinfo on Twitter there are millions of dollars bankrolled. OTOH any non-zero cost is off-putting for regular users and stifles growth of services. Twitter has upset its top users by trying to change $8! Then there are flash loans that let you have any amount of wealth in the web3 world for only a tiny fraction of the price. It keeps popping "DeFi" services that naively assumed nobody would risk a fortune to attack them, but there's a fortune-for-hire service! Anyway, the real-world web has used phone numbers as proof of small amount of money. There are CC checks for bigger amounts. Then there's web of trust which is a pre-web3 word for "staking", except using reputation instead of Monopoly money. Mastodon instances for example ban other instances from federation if they don't police spam/abuse enough, so every server admin is motivated to fight it locally, while the system as a whole remains decentralised.