For example:
- Why does the Bloom company have final say over X decision? Isn't that centralized?
- What if some organizations on the @BloomToken protocol have a large amount of BLT (and therefore influence)? Isn't that basically centralized?
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With that said, the protocol being built should be improvable without the core company. With
@BloomToken, we want to create an economic incentive to improve the Bloom score (the credit score within our lending infrastructure). We'll drive improvements until it hits critical mass.Show this thread -
In terms of what matters software wise when implementing a decentralized protocol, I try to answer this question: could someone else recreate our app (in terms of what the user sees on the website) even if we shut down our servers?
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This doesn't meant that it should be easy to recreate. For example, only the minimum amount of logic and data should be tracked in your smart contracts. IPFS should hold the data that you want to guarantee wont change.
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For example, our user invite system for
@BloomToken tries to be easy to use while also fundamentally using the smart contract. For the user, they just put in their friend's email and submit an Ethereum tx. Behind the scenes, a one time shared secret is used in the contractShow this thread -
For our voting system, anyone can vote but we filter for Bloom users off chain. Votes are weighted by amount of BLT, but that weighting happens off chain. Determining the current weighted vote totals per block requires a lot of syncing work. You can recreate it though.
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End of conversation
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