Author: Damian Gomez 2015-05-13 17:49:04
Published on: 2015-05-13T17:49:04+00:00
The author of the first context expresses a desire to continue conversations about an alternative consensus model that promotes integrity and reduces mining, despite not always feeling equipped to contribute. They discuss using the Ethereum blog’s weak subjectivity schema as a data structure in a consensus model, but note the issue of verifying which value of integrity is useful for establishing the genesis block. They propose using a paper by Lee & Ewe called "The Byzantine General's Problem" as insight into how a O(n^c) model can be suitable to send a message w/value through the system. The author concludes by stating their intention to continue developing the technical side of this implementation.In the second context, Oliver Egginger, a computer scientist and former Bitcoin user, expresses concerns about the core problem of Bitcoin in an email thread. He believes that the third-party economy around Bitcoin is pure horror and suggests that a small but good functioning economy around the blockchain is needed. Oliver also mentioned his concern about privacy reasons and leaving a footprint in the blockchain for each transaction, especially trivial things of everyday life like buying pizza. He thinks it's much better to use third-party payment systems for such transactions.Angel Leon replied to Oliver's email, saying that if people cannot use Bitcoin however they want in a decentralized fashion, then what's the point? He believes that if Bitcoin goes mainstream and people get their wallets out, the whole thing will collapse regardless of what you want the blockchain for. If off-chain solutions are required, then an organization will need to respond to government regulation, which will be the end of the billions of unbanked to be part of the network.
Updated on: 2023-06-09T20:41:44.886040+00:00