431–440 of 515 posts
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If it's not because of a blockchain, how come there is no other good way? It's not on it's own private blockchain because then no one would use it.
If my aim is transfer money internationally cheaply and efficiently why do I care what blockchain it uses. Or whether it uses a blockchain at all.
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a better question is to look at how people use it, the frictions they encounter, and who works on solving those frictions just saying “speculation” as if thats not a use case misses that “financial services” are our biggest industry on the planet and thats mirrored in the blockchain space, many people solve frictions and compete with each other. it willfully ignores that all currencies are 99% held as stores of value…
Given that we are now entering another crypto hype cycle and blockchain technology, discussions often veer towards crypto and the allure of embedded tokens. I’m going to stick to the realty and opportunity: utilizing blockchain in fixed income finance. Having spent two decades navigating the complexities of Wall Street, I know the critical problem plaguing the fixed income market: the overwhelming amount of data gene…
All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…
If anything will get us out of this ad-ridden hellhole of the centralized internet, I think it'll be cryptocurrency that allows users to transfer tiny amounts of money to a site instead of an ad platform paying the site fractions of a cent for my view. Like if all I need to do is transfer $0.00001 to the site for my view and it's guaranteed to be free from ads or data hoarding, sign me tf up.
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> Zcash has opt-in privacy You could just as accurately say Zcash has opt-out privacy too. And the privacy is much more than a mixer since you got ZKPs. Opting out of privacy gives it more plausible deniability, which is why you can find it on coinbase. Not that you should need deniability, since no one has any business knowing what you're doing with your money.
> Opting out of privacy gives it more plausible deniability So if you actually want to interact with the real world, you have to opt out of privacy? And if you enable privacy you are automatically treated as a weirdo? I don't get the whole point of Zcash. It's the same issue as with Bitcoin – you can make your transactions private, but it's not the default and not obvious for new users, and anyone who does it is subj…
Again, it is not the same as bitcoin. Using a mixer does not come with ZKPs. The transactions are also still public. You can see how much was put in and how much was taken out. Worse, you now potentially have traceable tainted coins and a target on your back.
The point of Zcash is the Z. Zero knowledge proofs. Monero uses differential privacy. Zcash has much stronger privacy guarantees.
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It's confusing because we went from "decentralized" meaning "an inverted hierarchy" to "decentralized" meaning "a hierarchy seen from the other direction".
Can you expand on that? What do you mean by from the other direction?
Etherium is a decentralized model. Its model is an actually inverted hierarchy.
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I wouldn't be surprised if all that was just a made up jargon and this was a joke article. But again, it's about blockchain, so the line is thin.
There's actually interesting technology being developed here in the areas of distributed computation and zero trust systems. The implementations of Zero Knowledge Proofs and ongoing work on ZK-SNARKS I personally find most fascinating. There's a lot more to this ecosystem than just speculation. At it's core is a distributed world computer but all anyone knows about is money.exe because this stuff is immensely complex…
I'm guessing any "crypto-kinda-currency" is picking eventual consistency as a core mechanic. Think about the word EVENTUAL though.
If the core function of the crypto is a ledger, then it makes sense, it EVENTUALLY gets transacted, and in practical terms you take the faith in the distributed system from a flawless previous record in reconciliation, probably before the actual completion of the transaction.
Now, a distributed major blockchain has ... how many nodes? Thousands or more? That is a long time for reconciliation of the consistency, even with great dedicated internal networks. What? This is over a heterogenous global internet network? That implies EVENTUAL has some bad worst cases.
"Smart contracts" or "distributed trustless computation". Whatever, getting the value of calculation from a node and getting the value stored in the node is essentially the same thing in terms of determining an answer to a query.
It implies a horrendous performance, one you have little control over. I don't think Kubernetes is shaking in its boots.
It's interesting Aphyr never does any crypto analyses, although he makes his bones running a test suite. How do you test a scaled cryptocurrency?
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Basically you're arguing for chartalism, it has value because validators say it's the only thing they'll accept. That can change at any time, it's not the same as a company's stock's value being backed by liquid revenue. Imagine situations where the network just decides they want to accept other tokens at the expense of ETH. Imagine what happens to network security if there's a huge speculative dump - would network h…
Not at all. The validators get a small portion of the transaction fee for themselves and certainly they could ask for something different. But the ETH burn is built into the protocol. In theory that could be changed, if you got agreement not just from validators but from the rest of the ecosystem too. But nobody wants to change it. 1559 became very popular within days of hitting production, since it improved user exp…
If the company pivoted to a different business, it would likely violate securities laws. Corporate governance is in place to stop that from happening.
US taking away all property rights is significantly less likely than an ETH hard fork. Hard forks have happened.
Ecosystem is getting smaller because everyone knows there are currently no useful DeFi projects. ETH is failing to pump again so this is the peak of network security.
Bitcoin is also a memecoin for the same reason, but at least it’s a credibly neutral memecoin unlike ETH.
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Not at all. The validators get a small portion of the transaction fee for themselves and certainly they could ask for something different. But the ETH burn is built into the protocol. In theory that could be changed, if you got agreement not just from validators but from the rest of the ecosystem too. But nobody wants to change it. 1559 became very popular within days of hitting production, since it improved user exp…
The difference is that the US would not do that in response to a speculative dump. With ETH, the system stops working and everything breaks without a HF. So it’s valuable because it’s valuable. If the company pivoted to a different business, it would likely violate securities laws. Corporate governance is in place to stop that from happening. US taking away all property rights is significantly less likely than an ETH…
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> the root cause of friction in fixed income trading: the lack of direct origination and data quality across market participants. By leveraging a permissioned network, Blockchain has nothing to do with "data quality across market participants". Bad data entered into blockchain remains bad data.
hence origination - bad data can be fixed. try calling 30 different vendors and rely on downloading the file to run the M2M night-cycle
What blockchains may give you is a slow append-only log, which is a very minor part of that platform. And making everyone move to that platform is a much bigger challenge :)