is this going to be open source?
Stripe Launches L1 Blockchain: Tempo
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Re: Stripe Launches L1 Blockchain: Tempo
#62I guess domains might not mean as much as they used to, but xyz? To me that's something you get for experiments and one-offs, not something you use for a serious enterprise you want to get people onboard for.
I honestly thought this was fake and not from stripe the first time I saw it. (I kinda still do with that domain.)
Re: Stripe Launches L1 Blockchain: Tempo
#63The folks on Hacker News seem pretty anti-crypto, but I feel like they're missing the point. If we're actually looking for ways to fix the US debt, stablecoins are definitely worth considering
Okay I'll bite—how would stablecoins help fix a $37 trillion problem?
Stablecoin companies back their coins with U.S. Treasury bonds, mostly short-term ones instead of 10 or 30-year bonds. So, when you hold a stablecoin, you're essentially helping the U.S. government kick the can down the road a bit more.
Re: Stripe Launches L1 Blockchain: Tempo
#64I'm trying to figure out how this is decentralized? "A diverse group of entities" will run validator nodes. This sounds like it's just a Solana clone then.
It is Reth based. Solana is a completely different implementation.
Re: Stripe Launches L1 Blockchain: Tempo
#65The whole payment sector is so fucking idiotic. Why would Stripe need a L1? Partnered with paradigm? The company behind every crypto scam in the past 5 years? Who needs this? Who wants this? I just want to order a book from Amazon; why would there be a blockchain?
> Why create a new blockchain? Stablecoins enable instant, borderless, programmable transactions, but current blockchain infrastructure isn’t designed for them: existing systems are either fully general or trading-focused. Tempo is a blockchain designed and built for real-world payments. - First line in TFA
> Stablecoins enable instant, borderless, programmable transactions, but current blockchain infrastructure isn’t designed for them
How?
> existing systems are either fully general or trading-focused. Tempo is a blockchain designed and built for real-world payments.
What makes existing systems not suitable for instant, borderless transactions? What makes this new chain suitable for instant, borderless transactions?
Any system with an API is programmable.
Re: Stripe Launches L1 Blockchain: Tempo
#66it will never be full available to us unlike bitcoin or ethereum? this is literally like a fast db? like you people here used to say. Finally HN is right and stripe founders joined on calling fast db a "blockchain" with lie. they will censor you and block you in blockchain level so literally db for few big companies, lol.
If you want to be censorship resistant, stick to decentralized blockchains (ethereum + bitcoin). There's still value in Tempo vs traditional payment rails - (much) lower fees, faster + 24/7 transactions.
sure there is value but it's just a some db with multiple hosters probably? are we going to be able to do basic things what other blockchains offer? probably no.
Re: Stripe Launches L1 Blockchain: Tempo
#67This is a pretty big deal. Stripe is already processing billions of transactions. Additionally Stripe already has the relationship with merchants that other L1's lack along with the payment network expertise.
If Stripe’s closed-loop system scales, banks and card networks could lose significant transaction volume, fees and even merchant relationships. Merchants and customers win with lower transaction fees. This marks a very credible and large-scale effort yet to challenge the Visa and Mastercard duopoly.
Obviously not perfect and other questionable projects have stained blockchains reputation but it is a net win, no?
Re: Stripe Launches L1 Blockchain: Tempo
#68I don't get it. Why does Stripe want to creatively ruin their reputation by venturing into crypto / blockchain? I don't see anyone in the real world using blockchains at all. I get AI as it was a real world paradigm shift, but I have never seen anything in this blockchain / crypto space that has reached 100-500 million users let alone 1 billion users, that isn't based on speculation.
the entire crypto ecosystem is just sloshing around money for the sake of sloshing around money. no value delivered to end users
Re: Stripe Launches L1 Blockchain: Tempo
#69Who is backing this stablecoin? Who is managing the backing? Where is Tempo located?
Tether has now moved to Bukele's paradise El Salvador and its backing is managed by Howard Lutnick's Cantor Fitzgerald. Previously Tether's funds were managed by Deltec in the Caribbean, a bank with a colorful history.
Re: Stripe Launches L1 Blockchain: Tempo
#70Welcome to crypto project number 206701341. At least that is how many are listed on CoinMarketCap: https://coinmarketcap.com/charts/number-of-cryptocurrencies-... Bitcoin is decentralized because the sun distributes energy somewhat evenly across the globe. The other 206701340 crypto projects, including this one, are decentralized because ... ? From the very sparse info on the page, it seems this project does what so…
No, you misunderstand and are closed minded. Their corporate leadership has already stated in the roadmap and core value document that it will be neutral and permissionless.
First, relying on plans some corporate leadership states is the opposite of a decentralized approach.
Second, permissionless does not mean decentralized. You can have all validation of a POS chain ending up on a single computer.