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Stripe Launches L1 Blockchain: Tempo

tempo.xyz

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Re: Stripe Launches L1 Blockchain: Tempo

#261

Post by louisanderson01 »

serial_dev wrote: post #212
udev4096 wrote: post #207

Earlier quoted context omitted.

It's a LOT more than that. You are still stuck in satoshi-era. Things have evolved quite a bit that it's no longer just a db sync

Care to elaborate?

udev is probably referencing smart contracts(which turn blockchains from shared dbs to shared state-machines), and zk(which allows for cryptographic guarantees of arbitrary computation, and facts about said computation without revealing details of computation). Those are two major innovations on the tech side, there's also rollups, blobs, and a whole host of other interesting developments in the EVM(ethereum virtual machine) ecosystem.

Re: Stripe Launches L1 Blockchain: Tempo

#262

Post by fruitworks »

jrm4 wrote: post #224
serial_dev wrote: post #212

Earlier quoted context omitted.

Care to elaborate?

I'll chime in here;e.g. Ethereum is more than a database. It's a computer. You can write and execute code on it. (but also, as OP, Stripe will almost certainly not have any use for this)

Etherium is a database. It's a database that contains scripts (not unlike bitcoin) that some computers can run if they want to determine the balance of accounts.

Etherium itself is not a computer, that's marketing speak.

Re: Stripe Launches L1 Blockchain: Tempo

#263

Post by adastra22 »

brunohaid wrote: post #53
adastra22 wrote: post #31

Earlier quoted context omitted.

What does a separate payment rail have to do with the US debt?

It’s a hilarious definition of “fix” but the basic argument is that when you mandate stablecoins to hold treasuries and they start seeing actual adoption, you create demand/sink for a couple extra trillion dollars of treasury bonds. Eg if Australian locals suddenly switch transacting cocaine at scale in Tether instead of AUD, the US government can borrow more money by providing that collateral to Tether. Edit: Izzy K…

Thank you for providing an actual answer! I don't know what to think of it--it seems naïve to say the least. But it is at least a self-consistent answer that helps me better understand what people mean when they say stuff like that.

Re: Stripe Launches L1 Blockchain: Tempo

#264

Post by jrm4 »

nairboon wrote: post #244
jrm4 wrote: post #224

Earlier quoted context omitted.

I'll chime in here;e.g. Ethereum is more than a database. It's a computer. You can write and execute code on it. (but also, as OP, Stripe will almost certainly not have any use for this)

Technically, it's a program, not a computer; Ethereum still needs actual computers to do the computing.

Operating system or perhaps virtual machine, then.

Re: Stripe Launches L1 Blockchain: Tempo

#265

Post by louisanderson01 »

jrm4 wrote: post #224
serial_dev wrote: post #212

Earlier quoted context omitted.

Care to elaborate?

I'll chime in here;e.g. Ethereum is more than a database. It's a computer. You can write and execute code on it. (but also, as OP, Stripe will almost certainly not have any use for this)

Stripe kinda does have use for this it turn their platform into a much more powerful tool where you can do extremely sophisticated economy based financial automation on your funds held with stripe. Essentially you get some crazy good developer experience which is not possible on tradfi rails.

Re: Stripe Launches L1 Blockchain: Tempo

#266

Post by louisanderson01 »

udev4096 wrote: post #206
jrm4 wrote: post #125

Ah the layers. Okay, so one: Obviously pointless from a tech POV. There is nothing that a Stripe controlled blockchain could offer that a database could not. But then, why? Sadly, as someone who does like the ideals of true cryptocurrency, yet another way to make sure "real" crypto doesn't happen, much like what is happening to BTC. Here's hoping (yeah, it's a long shot) people see through all of this and maybe, MAYB…

Monero is pretty much what satoshi envisioned. Strong math, real value and active community. Sadly, it's getting attacked by qubic

Monero got 51% attacked

Re: Stripe Launches L1 Blockchain: Tempo

#268

Post by j2kun »

jchw wrote: post #148
pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

A lot of us are not really deep into the finance space. Maybe there's a good reason it's left unsaid, but the question I came away with after reading that page and this comment is, why are businesses finding crypto easier/faster/better? To me, it's not 100% clear exactly who Tempo is for and not for, and why blockchain is more suitable than traditional centralized database technology here. And it sounds like this sys…

All of the other comments are missing the point: using blockchain technology is a means to bypass regulation. That's it. That's always been the point of cryptocurrency.

Re: Stripe Launches L1 Blockchain: Tempo

#269

Post by TechDebtDevin »

notatoad wrote: post #226
apinstein wrote: post #151

Here's the play. It's very simple, and it's quite good. Stripe processes a LOT of money. The customers that get that money need to move it around. Often to banks. Stripe makes no money on that. Over the last few years, stablecoins have become a preferred means to hold and move money (for convenience, etc). Stablecoin providers make money on their float -- selling stablecoins means you get free deposits, and risk-free…

i'm still unclear what the crypto really adds to this play. stripe customers need to move their money around, and they need a trusted source to hold money. stripe could just do that. why add crypto into the mix?

There's over 75 billion in daily tether turnover... do the math. Not everyone is a boomer..

Re: Stripe Launches L1 Blockchain: Tempo

#270

Post by louisanderson01 »

criddell wrote: post #175
wmf wrote: post #99

Earlier quoted context omitted.

Stellar was way too early.

It's still there though. Why not use it?

tech debt, plus the EVM ecosystem has morphed into something beautiful, and robust in the meantime. I.e. it doesn't make sense to use something that's so far behind industry standard
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