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> The whole proof-of-work, decentralization, ledger, ... are in no way necessary steps in this. If you know of a ledger that's (1) permissionless and (2) avo
by siftrics 4y ago
> The whole proof-of-work, decentralization, ledger, ... are in no way necessary steps in this.
If you know of a ledger that's
(1) permissionless and
(2) avoids the double-spending problem and
(3) _does not_ involve those things you mentioned
...then please, do tell me about it. I'd love to know your breakthrough solution.
- DaiPlusPlus 4y agoEthereum's Proof of Stake?
- chemmail 4y agoThey are not talking about the consensus mechanism but the overall raison d'etre of blockchain.
- trifurcate 4y agoWhich involves decentralization and a ledger.
- remram 4y agoWhat I'm saying is that you don't need a decentralized ledger to enable the "financial innovation" we've been seeing, and that it's not permissionless if every meaningful action (buy/sell/trade) happens on good ol' central exchanges.
- siftrics 4y agoTruly decentralized exchanges exist and clear tens of billions of dollars in volume every single day.
- remram 4y agoWithin an ecosystem, yes. You can trade Ethereum currency for Ethereum-based tokens. As for "billions of dollars in volume every single day", I find that hard to believe.
- david_shi 4y agohttps://info.uniswap.org/ https://info.uniswap.org/ Uniswap alone clears this amount. Part of the power of decentralized exchanges is that every trade is logged and publicly available, which is not something you can claim for their centralized counterparts.