kang

14 ms·

121.
by kang 9y ago
If you are a web developer and looking into making useful products(not just to raise money) you should first look into public-key infrastructure applications. Once you have made your first PKI application you might find ethereum redundant a
122.
by kang 9y ago
oracle is just a blockchain buzzword for api
123.
by kang 9y ago
The important lesson being don't secure the signal, hide it in the noise.
124.
by kang 9y ago
I am not saying that speed doesn't matter; trade-off though is security. If there are lawyers to sort thing out, then you don't need crypto. >bitcoin is significantly slower than other systems of its class that class being dece
125.
by kang 9y ago
Technically, decentralized system will be always slower than centralized one. Its a good thing its slow. 1 hour blocks are even safer (and effectively we do convert blocktime to an hour by waiting for 6 confirmations). So no, you can't
126.
by kang 9y ago
Naval does a much better job of explaining what the tech is about : https://startupboy.com/2014/04/01/the-fifth-protocol/ However, OP nor Naval, really understand the protocol, or wouldn't be suppor
127.
by kang 9y ago
How to add a new exchange to this? Which interface need to be implemented?
128.
by kang 9y ago
> The hypothetically optimal crypto system would be cheaper for merchants Incorrect. Decentralization is always more expensive and slower than centralized system(both hypothetically optimal) due to extra sync cost.
129.
by kang 9y ago
Proof-of-stake has many problems like nothing-at-stake problem etc.
130.
by kang 9y ago
> if you name some of the more efficient alternatives to bitcoin, I'll tell you which problems they're failing to solve. This. Nothing except prof-of-work generates inherent value. All those other proof-ofs are flawed.
131.
by kang 9y ago
Yes its coming. When this goldrush started exchanges were the ones who made money so everyone wanted one. Then came altcoins ... Then ERC20 /ICOs... Next up in 2018 - forks...
132.
by kang 9y ago
Peer-review is deeply flawed and in its current form merely an advertisement form. We should focus on formatting science in a way that accounts for merit based on reproducibility, falsifiability and paying for real-life usage for recipe inv
133.
by kang 9y ago
You know what is a great database with all those properties? Your folder with git. There is nothing that you cant do with git that you can do with blockchains as a database. About the BFT part, it fails the mention the very important part t
134.
by kang 9y ago
Reminded me of top unixporn post https://www.reddit.com/r/unixporn/comments/2sz5xo/bspwmofxoc...
135.
by kang 9y ago
Lets keep the blockchain protocol in the mind for a second. Now, given that bitcoin is born due to some problem with banks that the creator felt, what can the banks do at best? They can create a bank that cannot control printing of money by
136.
by kang 9y ago
I know and I deliberately put a google search query instead of a specific link, because I read all the google links and this cannot be done decentrally.
137.
by kang 9y ago
So manual then? To reach the ethereum genesis block programatically, starting from an erc20 token I give you, you need that "need the contract code" part which is centralised.
138.
by kang 9y ago
The spades are the hardware ASIC and GPUs and also the platform that let you host and bootstrap a whole new mining field itself, like eth, waves etc
139.
by kang 9y ago
Please link me up, I have checked and tried more than 20 results and none of them tell why or work.
140.
by kang 9y ago
> "But while the operations of such currencies, based on blockchains, have been fully decentralized, the trust graph of these cryptocurrencies have remained entirely centralized. Everyone need to trust Bitcoin to transact in Bitcoin
141.
by kang 9y ago
Its the use of hashcash as money, instead of making users see ads. https://en.wikipedia.org/wiki/Hashcash
142.
by kang 9y ago
> A smart contract is simply an agreement between parties, written in codes and enforced by a third-party. No, it is an agreement between parties enforced by cryptography, and no third party required. > In the case of Ethereum, it is
143.
by kang 9y ago
No that just makes it distributed hosting, like aws.
144.
by kang 9y ago
So how is the initial peer discovery happening again? Isnt that part centralised problem? Any suggestions how to solve it?
145.
by kang 9y ago
I do not mean to discourage you but what you are building is not smart contracts but just a worse version of aws. Smart contracts are these social protocols that are secured by cryptography and the calculation is done by the node themselves
146.
by kang 9y ago
While it is still not clear that turing complete scripts in blockchains are even required, this is a clever ploy by ethereum to ride some hacker to a spot in devcon, by giving it out as a prize. Ethereum really understands marketing the tec
147.
by kang 9y ago
No etc is not important because it is essentially a centralized mapping of a string of text to another, thats all.
148.
by kang 9y ago
1. the whole blockchain it is based on 2. root signatures in ENS
149.
by kang 9y ago
Yes, I am arguing it is centralised. Read about the centralised root signature system that is the way to add new TLDs to the system. Also this is worse than the current system we have in the world because it wastes more energy in doing so!
150.
by kang 9y ago
ENS is a great example of a centralised system plus its only about eth based names, no application other than just a method by to collect money by the platform for offering services that are only about the platform and work in the platform.

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