Comment on Please bro
Knock_Knock_Lemmy_In@lemmy.world 17 hours agoYou’ve not heard of it because it is banking focused. It’s the newer option made to compete with Quorum and Corda.
It is decentralized, but it is not open write access. It a public permissioned network of private ledgers.
You and I could validate that the network is cryptographicly consistent, but we don’t have decentralized permission to interact.
Mika@sopuli.xyz 17 hours ago
So, not decentralised in it’s original sense, if a pack of people decide which operations are allowed. Decentralised as in “not a single bank”.
See, this is what I mean when I say they all have flaws.
Knock_Knock_Lemmy_In@lemmy.world 16 hours ago
There is no central entity, so it is decentralized in the original definition. I gave Canton as the example because it could be immediately substituted for Swift. It’s permissioned access by design, because banks don’t want to risk their monopoly position.
For speed and cheapest, go for solana.
For reliability go for Ethereum. For reliability, speed and cheapness choose an L2 on Ethereum.
For illegal stuff use monero.
There are trade offs between them, but I wouldn’t call them flaws. Blockchain as a technology definitely “works”.
Mika@sopuli.xyz 16 hours ago
If you have trillemas all over it IS flawed in one way or another. End users won’t get through the complexity of multi-choice where every one has downsides. How do you even drive the adoption if every store would accept only their crypto of choice?
Knock_Knock_Lemmy_In@lemmy.world 14 hours ago
Ethereum has solved it’s trillemas. Fiat has it’s own flaws.
User experience is certainly a blocker. The only way round that at the moment is to put a familiar medium between the user and the crypto layer.