321–330 of 502 posts
> _share_price here refers to the price of TITAN, as provided by an oracle, which is correctly reporting it as… 0 (somewhere in the distance, you can hear a room full software engineers burst into laughter ). Aside from the amusing programming error, the main problem with much of the "smart contract" activity today is that doing anything remotely interesting requires an oracle. An oracle is basically a server that re…
Earlier quoted context omitted.
I missed out on the unregulated ICO rush because I thought you had to, you know, develop a new blockchain technology for your new cryptocurrency, which is really hard, and I was busy. Much later I learned all you had to do was copy and paste a Solidity program and then promote it. Guess I dodged an ethical bullet in my ignorance, but still...
You can create a new coin in a couple hours, the "hard work" is in selling and promoting it...
> _share_price here refers to the price of TITAN, as provided by an oracle, which is correctly reporting it as… 0 (somewhere in the distance, you can hear a room full software engineers burst into laughter ). Aside from the amusing programming error, the main problem with much of the "smart contract" activity today is that doing anything remotely interesting requires an oracle. An oracle is basically a server that re…
> _share_price here refers to the price of TITAN, as provided by an oracle, which is correctly reporting it as… 0 (somewhere in the distance, you can hear a room full software engineers burst into laughter ). Aside from the amusing programming error, the main problem with much of the "smart contract" activity today is that doing anything remotely interesting requires an oracle. An oracle is basically a server that re…
Oracle is a fancy name for an API, right?
My uneducated inference is that an oracle is a data source and you can hook into it from the smart contract. The oracle seems to live off-chain and live on a traditional server/DB.
Please correct me if the above is way off!
Earlier quoted context omitted.
Uniswap, the decentralized exchange. Is it decentralized finance ?… up for debate (but at the very least, it’s a critical component of the DeFi ecosystem). But I can plop $x of Ethereum and $y of tokenized BTC onto it, providing a valuable service to anyone who wants to exchange the two for any reason (e.g. tuning their price exposure to those assets), forget about it for a couple months, and come back to see that it…
I think a better question might be: what are some valuable "non-ouroboros" projects? Most of the stuff people use essentially seems to be one form or another of shuffling the unit(s) of account around, like the ones you listed. You have a cryptocurrency. What are the uses for the cryptocurrency? Well, you can swap the cryptocurrency for another cryptocurrency or let someone else borrow the cryptocurrency in exchange…
But even then, all the new cryptos are usually totally useless for peer to peer, private transactions since they merely piggy back off the ETH/Binance/etc chain. They often don't even support p2p transactions at all, and are now openly designed just to be hodled or dumped through exchanges
Monero is pretty old by now, but it's still the goldstandard when it comes to security/privacy/opsec, and darknet markets are slowly starting to phase out even BTC (which is a total opsec disaster considering how traceable it is) in favor of Monero.
> _share_price here refers to the price of TITAN, as provided by an oracle, which is correctly reporting it as… 0 (somewhere in the distance, you can hear a room full software engineers burst into laughter ). Aside from the amusing programming error, the main problem with much of the "smart contract" activity today is that doing anything remotely interesting requires an oracle. An oracle is basically a server that re…
> _share_price here refers to the price of TITAN, as provided by an oracle, which is correctly reporting it as… 0 (somewhere in the distance, you can hear a room full software engineers burst into laughter ). Aside from the amusing programming error, the main problem with much of the "smart contract" activity today is that doing anything remotely interesting requires an oracle. An oracle is basically a server that re…
Oracle is a fancy name for an API, right?
It doesn't have to be an API. Side channel attacks can provide unintentional oracles. For example, if you have a password checking function that takes longer to return a false result for "close" inputs, then it leaks information that can be used to crack passwords (simple O(n) string comparison would be an example)
Interestingly Mark Cuban got taken for a small amount of money by this and is already calling for regulation around stablecoins: https://www.bloomberg.com/news/articles/2021-06-17/mark-cuba... I read about it. Decided to try it. Got out. Then got back in when the TVL start to rise back up As a percentage of my crypto portfolio it was small. But it was enough that I wasn't happy about it. But in a larger context it is…
Hypothetically, what he's suggesting may not even need to be government-backed. An independent auditor, with reputation on the line, could, for a fee, offer independent coin analysis and risk assessment. Perhaps something similar to the Underwriters Laboratories model... knowing a coin was "Coincheck-certified" or something could give similar confidence to knowing the UL sticker on a lamp means it's a bit less likely…
I don't think this will matter. Moody's and S&P are two rating agencies that both failed to give useful info before the 2008 financial crisis. Their reputations weren't affected much as far as I can tell.
Earlier quoted context omitted.
I believe the point the poster was making is that "smart contract" is a misnomer and contracts comprised of code should be more realistically called "dumb contracts" since they lack the intelligence to understand and compensate for context and intent.
They really shouldn't be called contracts at all, since intent ("meeting of the minds") is a fundamental part of contract law. Imagine for example if a mortgage contract contained some bizarre inscrutable loophole that as-written would give the first 3rd party to notice it total control over over the house. This would of course be laughed out of court because that part of the contract wouldn't be enforcable under con…