21–23 of 23 posts
Be careful! There was once a guy who tried to hack an Ethereum smart contract, but in the end the contract hacked him instead: https://techcrunch.com/2018/02/16/clever-ethereum-honeypot-l...
Non-GDPR-walled link: http://web.archive.org/web/20180301075711/https://techcrunch...
Earlier quoted context omitted.
> Except this new-old state is built on a framework of exponential energy waste that powers cryptocurrencies. Few in the cryptocurrency community, except the so-called "Bitcoin maximalists", believe Proof of Work will survive as the dominant consensus algorithm. What's more likely to be widely adopted is a Proof of Stake [1], or Proof of Space [2] system. [1]: Snow White: https://eprint.iacr.org/2016/919.pdf , Ourobo…
I keep hearing that, and yet it doesn't happen. Did anyone ever actually demonstrate that PoS (either one) can give the same network safety guarantees as PoW.
Earlier quoted context omitted.
It doesn't take much imagination to come up with many settings where a trusted, fair, omnipotent third-party arbitrator is absent. Those unregulated environments are the trust settings where cryptocurrency will shine, not the local, already regulated economies. Applications like "real-estate on the blockchain", "event tickets on the blockchain" are mostly just opportunistic buzzword riders. What cryptocurrency best s…
> What cryptocurrency best serves is international trade I fear the day we go to war because of some clerk's off-by-one error in a "smart" contract. Honestly though, I'd think programmers of all people would be first to realize that using code to represent law affecting anything in the physical reality is a dumb idea. Think of any time you had to write a program to conform to customer's requirement document. Does any…
There certainly could be many life changing bugs happening for smaller entities. But that's not a cryptocurrency-specific point. Humans are more and more willing to accept trusting technology with their lives (factory robots, pacemakers, automated cars, risky snapchats).
The key for cryptocurrencies is to keep humans in the loop: keep it incremental and require human confirmation for meaningful transactions. Machine learning can be used to detect anomalies in busy transaction flows.
[1]: https://www.cryptocompare.com/coins/guides/the-dao-the-hack-...