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Stripe Launches L1 Blockchain: Tempo

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Re: Stripe Launches L1 Blockchain: Tempo

#311

Post by k__ »

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…

If it's EVM compatible it's irrelevant that it's focus is on stable coins.

People can build their own smart contracts and speculate.

Re: Stripe Launches L1 Blockchain: Tempo

#312

Post by Imustaskforhelp »

throwup238 wrote: post #179
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…

As an extreme skeptic of crypto in general, the uses for stablecoins seem obvious as long as they’re transparently backed or used only for short term transactions before going back into fiat. Even just paying a foreign contractor is a pain in the ass sometimes so if a bunch of banks and financial service providers around the world manage to make international transfer easier via the coins, that’s great. Not everyone…

That's exactly the same take as mine.

As someone who actually worked on some crypto project (nanotimestamp) and also has got paid in crypto. I usually just convert it into stablecoins / gold coins for a short term (1 year max) where since I am still a minor, I don't have a bank account and so I mean, the end goal is to get my stablecoins out of the chain into real money not vice versa.

I had written something like this, just with a clickbaity title but its basically that I hate everything in crypto except stablecoins which I really like. Like there is paxgold which has gold and I genuinely like the fact that I think that we might be able to pay in gold or etc. stuff, I also like USDC too.

Here's my article: https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to...

Re: Stripe Launches L1 Blockchain: Tempo

#313

Post by fruitworks »

louisanderson01 wrote: post #266
udev4096 wrote: post #206

Earlier quoted context omitted.

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

The media has reported on it incorrectly. It's more like a 41% attack. Stochasticially, you are likely to get large reorgs every once in a while but the network sorts itself out after a while.

Re: Stripe Launches L1 Blockchain: Tempo

#315

Post by EGreg »

Unstoppable force: Stripe, an early YC darling, known for really developer friendly payment platform

Immovable object: The perennial HN hate for all things blockchain, complete TLDR energy when it comes to crypto

This should be interesting

Re: Stripe Launches L1 Blockchain: Tempo

#316

Post by _zoltan_ »

j2kun wrote: post #280
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…

> Over the last few years, stablecoins have become a preferred means to hold and move money (for convenience, etc). For avoiding regulation.

screw regulation when a bank transfer isn't instant and the bank can do all kinds of checks and hold your money hostage for days or weeks.

Re: Stripe Launches L1 Blockchain: Tempo

#317

Post by fruitworks »

stale2002 wrote: post #156
antirez wrote: post #107

Earlier quoted context omitted.

The problem with all that, is the fact it remains possible to create a protocol with N big institutions (governments and large tech companies, big non profit organizations and so forth) signing every block, to create a collaborative system that is perfectly suited for the same task. The system can make progresses as long a given fractions of the participants is available and so forth, there are a number of well known…

> signing every block, to create a collaborative system that is perfectly suited for the same task. Indeed you can! We even have a name for that! Its called a blockchain. > This maintains many benefits of the blockchain and lacks many issues (fast, simple, near zero cost, controllable to a given extent -- no takeover possible, ...). Blockchains can do all of these things. Perhaps you are thinking of "bitcoin", instea…

such modern blockchains as "classical consensus"

Re: Stripe Launches L1 Blockchain: Tempo

#319

Post by 3PS »

petertodd wrote: post #299
3PS wrote: post #205

Earlier quoted context omitted.

> One way of thinking about a blockchain is to think of it as a shared datastructure to keep databases in sync. Any time you want to distribute your database over more than just a single central place, in a cryptographically secure way, you're probably going to re-invent a blockchain to do it. Even more specifically, a blockchain is for when you want Byzantine fault tolerance, i.e. you don't trust one or more of the…

> Even more specifically, a blockchain is for when you want Byzantine fault tolerance, i.e. you don't trust one or more of the actors involved. Often yes. But also blockchain's can be useful simply for backups and scaling: by cryptographically linking every bit of data together you can be confident that you actually have a complete copy without any errors. Git is basically a blockchain for this exact reason: starting…

I think you're technically correct here: if you just have a bunch of Merkle trees where each one tracks the hash of the previous block, it would be accurate to refer to it as a blockchain even if you're not bothering to implement any of the distributed consensus algorithms that cryptocurrencies are actually known for. It's probably not the first thing that would come to mind, but it is a correct way to use that word.
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