Highly scalable byzantine fault tolerance beyond (N-1)/3? Wow! Maybe crypto-coin will always be vulnerable to state organized violence but for a censorship resistant social network/DAO this is quite promising. Good luck to them!
Crypto's biggest problem is that it's impossible to use. I had to help a friend convert from one crypto to another because that's how she was getting paid for some work she did for someone off of upwork, but there's different networks with the same coins, so you can't just have one crypto, you have to have it on the right network, and you can't just convert from one to another seamlessly. There are fees, naturally, but unnaturally, you can't use the money you're moving to pay the fee with! That's right, if you have currency A, on chain Z, and need currency B on chain Y, you need currency Z on chain Z first, in order to make transactions on chain Z, but you can't convert currency A to currency Z unless you already have currency Z to begin with, so you have to somehow get currency Z on chain Z in order to pay for the swap of currency A for currency Z on chain Z. If that made zero sense to you, it could be because I'm bad at explaining things, or it could be because the system that's been constructed is ridiculously Kafkaesque and is just better left in a field and shot.
I know crypto's unpopular now, but it would be nice to know if Vitalik's claim (about having good security, throughput and "decentralisation" at the same time) is true or not.
Highly scalable byzantine fault tolerance beyond (N-1)/3? Wow! Maybe crypto-coin will always be vulnerable to state organized violence but for a censorship resistant social network/DAO this is quite promising. Good luck to them!
What, it only has one biggest problem?
Crypto's biggest problem is that it's impossible to use. I had to help a friend convert from one crypto to another because that's how she was getting paid for some work she did for someone off of upwork, but there's different networks with the same coins, so you can't just have one crypto, you have to have it on the right network, and you can't just convert from one to another seamlessly. There are fees, naturally, but unnaturally, you can't use the money you're moving to pay the fee with! That's right, if you have currency A, on chain Z, and need currency B on chain Y, you need currency Z on chain Z first, in order to make transactions on chain Z, but you can't convert currency A to currency Z unless you already have currency Z to begin with, so you have to somehow get currency Z on chain Z in order to pay for the swap of currency A for currency Z on chain Z. If that made zero sense to you, it could be because I'm bad at explaining things, or it could be because the system that's been constructed is ridiculously Kafkaesque and is just better left in a field and shot.
I know crypto's unpopular now, but it would be nice to know if Vitalik's claim (about having good security, throughput and "decentralisation" at the same time) is true or not.
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