If you are not concerned about the environment, is ok I’m not concern either. The planet is going to well outlive us and at some point is probably going to kick our asses. But if you are a bit concern about the other 3 Billion people that barely have access to electricity or internet, and really need these DLTs even more so than us in the wasteful, I mean developed the world. Or simply you are not delusional and are taking a totally pragmatic approach when analyzing the recent development of the crypto space. I mean really Why would you pay more for the same service? In this case getting you TXs across is the service. Let’s get real about this when you hit send, is nothing but data in the form of electricity getting move across. Why would you pay an order of magnitude more to achieve the same exact motion? Because of inefficiencies of your network. Inefficiencies like ASICs gambling for answers, empty blocks, and nodes not being able to share the workload of the network and then, forks. I understand the intentions might be in the right place, but the method is hopeless. As of today, Happy Thx Killing 2017! We do NOT have a viable scalability route for Blockchains architecture. Before you throw the tomatoes cans @ me, first read this great summary of the state of Blockchains scalability developments.
Now, the Benchmarks are for mon pere Clif, which I’m certain you are well aware of the BTC 200+ kWh per TX outch! Its like, I ask my fat I mean fellow Americans, Dude! Do you really need all that sugar? BTC you have an electricity problem, admit it! Before you scream POS lets not forget who 1st successfully implemented POS the Ghost that became Gasper. It was left alone not for a lack of discipline, but because it was not enough, not enough to serve the present and up an coming topography. If we truly are going to replace antiquated legacy systems. Yoga would help but it would have to be with a network faster, cheaper, more flexible, and secure than the one being replaced. Come on guys how about just data, crypto economics are super cool, but our internet sucks and is exploitation will continue. I’m talking about a Public Sector in which Hospitals, Transportation Centers, Institutions, even The Industrial Sector, and all the way down to your private ID and multiple IoT devices are as naked as pornstars and they will continue to get screwed. This is why POS + all the addendums simply are not enough. Therefore The Tangle came to be Innovation by necessity and not just for the sake of innovation. Because we are still in need of a truly egalitarian and cooperative network able to serve the incumbent.
Let’s not sit here and blame it all on the Miners either, thankfully they took us this far. But if you had to run a business that has such low margins, high volatility, and risk as theirs, and meanwhile you had to maintain payroll, rent, electric bill and the maintenance and renewal of hardware as they do, then you would also aim for the highest fees possible. Because you would need as much liquid in the shorter amount of time as possible to be able to keep up. Just like conventional commodities miners exhort the same economic incentives.
@ mi Hermano aantonooop whom I appreciate immensely, but “Side Chains” Seriously? Mo Chainz mo problems. Clear me of my ignorance if those dynamics aren’t going to bring extra layers of fees and vulnerabilities at the connecting point. and if you say Only when there’s a dispute then, the real question is why would there be a dispute? Because of the economic incentive. In a network where those incentives don’t exist, you eliminate 99% of the risk without spending any electricity nor brain power.
The Tangle’s ASIC ternary functions power consumption benchmarks could be resumed to one word NEGLIGIBLE. Perhaps now, no sensible person would be calling for the Coordinator to be rushed off! Is actually by the way of Simplicity that enhancement in computing is produced. All of the meaningful upgrades you ever had were achieved by simplifying the nature of the task accomplished by the processor, and not the other way around. Is also why when people call me a simpleton I take it as a compliment. Meanwhile by simplifying Transacting to just selections, confirmation and a lil bit of HashCash. This method can effortlessly be processed by The Tangle pulsating at the speed of light in a 64 tetrahedral grid fashion at any time, anywhere there’s a low power radio wave.
Elliptic curbs sure are sexy but like a sexy woman both are very expensive in computational terms. Ironically Color mixing although less fashionable is extremely efficient for private TXs. Heavy duty computation is the antithesis of the IoT so colored payment channels able to transact and immediately settle on the main network without any of the vulnerabilities of a multisig smart contract scheme make a lot of sense.
And even I would ask them, Is your money Quantum proof yet? NO Clif I’m not talking about those in the cooler, I’m speaking about this one! Either way, the point is that you don’t want to go against people with this many qubits on their fingertips with a nebulous security infrastructure, you need your insulation layer to have a crystal clear strategy vs such a potential attack! The time frame is not decades more like years away. And is not like any One entity has it all figured out, the fact is that Cryptography needs radical new design and hard-nosed peer reviews.
Blockchainers understood that something would come and replace it, is just that they didn’t expect it so soon, well Moore’s Law is still in effect and what bitcoin did to the financial system The Tangle is going to do to Blockchains in a few years. As well when it comes to Quantum Computers I think we all dismissed the exponentiality aspect of computing, It’s truly moving in the expected frequency is just that still is hard to believe!.
Then you have to understand that The CAP Theorem is nature’s way to tell databases “you can’t have your cake and eat it too. Databases are like water and Blockchain’s molecules can only exist in a solid form because they must obey their Consistency nature which makes the Blocks in a blockchain solid Ice. Again while this consistency works great for maintaining immutability, the forking side effect is terrible for standardization of a global network. The Tangle mainly maintains a liquid form, however, when serving in an opportunistic fashion it takes on a gaseous form able to travel freely until is time to reconnect. Oh, yea and that same Eventual Consistency of the Tangle is also what makes it Unfuckable with. See sometimes in Blockchain you inadvertently make a fork, One Word! Classic! The Tangle a-synchronistic characteristics allows for people with even extremely limited resources to transact and as a side effect makes it virtually impossible to fork it. Remember that even those eventual confirmations on a partition tolerant database when at" C " that eventuality still is orders of magnitude faster than those with priority on those less efficient networks. One of the most developed projects using the characteristics of an opportunistic network is Refunite.org which is developing tools for refugees to reconnect with their family, Grandiose. And if you still can find a little bit of hate in your heart towards such network, then I’m diagnosing you with Edison’s Syndrome.
To all my young Blockchainers, the final test is???, NO, Scaling to C is. While Institutional money is awesome, Industrial money is Amazing, where do you think?, those institutions get their life's support from? Not until we are running all of our industries on these freshly decentralized consensus Algos we can say we have evolved as a civilization which you may be able transacts at C to interact with your digital twin, have you met him or her?? but in this case the one from your car via your QKE or maybe even with your with your Psychotronic device, to attest that its data is 100% absolute. See that fine level of granularity can never be achieved as long as the User and the Validator have an opposed interest. Especially not at C. Take this one face value plz, for every One’s sakes, we need to be able to transact @ C.
By no means, this is an outcry for a singularity, Au contraire, if you can defy the laws of physics, keep trying with a blockchain architecture. But more than often in nature, we just need to rearrange the parts to achieve a solution. POW with ASICs driven to the extreme of complexity to serve no other purpose than to participate in a Lotto meanwhile using countries size amounts of electricity simply won’t take us there! I’m not a politician, but I would argue the Tangle goes more in line with Satoshi’s original Dream of “One CPU One Vote” and the ongoing working dreams of Maxwell, Zipernowsky, Tesla, Feynman, Jack fresco, and countless others. We agree that in a democracy is the individual vote that counts, not his money or his influences? Is not about how many rigs and almost free electricity you have, it should be about the fact that you are participating on the network. There are Obvious economics theory & temporal reasons why Satoshi couldn’t star with POS nether-less a tangle, hopefully, we can take advantage of the influx of IoT devices and have a full Global, Feeless, Permissionless, Private, and mature network within the next few years.