[1/*] Just to clarify, in the hopes of getting less lunacy in my mentions: I am a professional programmer. I have implemented novel hash functions before. I work on server code. I long ago read and completely understand the original BitCoin paper.
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Another way to say it would be, a claim has to be backed up by a solid argument that it does not degrade in practice to the same system we already have today, which is itself a form of distributed consensus algorithm.
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So the key aspect is to demonstrate that when fully adopted (ie., a significant portion of the world now uses cryptocurrency X), it actually provides some technological benefit _in practice_ not provided by our current currency regime.
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I think we have a few of these in the wild, e.g. Polygon has been criticized as being secured by Polygon validator's unsubstantiated claims that they control MATIC locked on Ethereum, and Iota still runs on a single validator after years of effort to fix this
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In practice a lot of users use these things! (oh, and Binance Smart Chain, which is just an EVM chain operated by a single company)
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And likewise, although I'm obviously a "crypto guy" I like to think that if someone suggested better alternatives to crypto for what I think it achieves, then I'd move towards those alternatives.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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