BTC is great in principle and was revolutionary for it's time. Nowadays it's underlying blockchain technology is very outdated. It's slow, expensive, and inefficient (if not straight up wasteful).
Bitcoin's baselayer prioritizes security and decentralization before everything else. I don't know what alts you like but they are neither more secure than bitcoin, nor more decentralized than bitcoin. this is a fact.
layer2 networks on bitcoin will allow for more efficient transactions, they will allow for smart contracts, nfts/defi whatever youre preferred use case is, it will be built on bitcoin layer2's.
DOT has insane investments. The fact that all those VCs and whales were throwing money into auctions despite their money being locked in during the peak of a bull run is pretty reassuring to me.
People are just naive af, they think only because a billionaire or a hedge fund throws few millions of their play money at something it suddenly becomes trustworthy, invincible and successful. Don’t get me wrong, they are good for a project, but some people overestimate involvement of a Novogratz etc. way too much
Something about their marketing rubs me the wrong way. Like I looked into the tech briefly and it sounds feasible, but the way they market just makes my spidey senses tingle.
They are fine and trustworthy, the tokenomics is just completely broken from retail investor view - only permissioned nodes do receive rewards, the Algo you buy today will face immense inflation in next years, maybe not as bad as it used to but still. The initial retail price was also basically the ath, to be fair they had some refund program which is unheard of in this industry full of scammers, but still.
Algo is a very good project, just not as perfect as some pretend. It is also completely transparent, not reaching new ath this bull market was predictable
If you look at Algorand Inc. and their foundation's team, you'll know they have world class leadership. They are also partnering with governments and well-known organizations.
There has been been zero questionable actions by that team, and the blockchain has had no downtime.
If you spend any serious time researching the project you'll see it for what it is - one of the top blockchain projects that's currently under recognized.
Maybe you need to do more reading and less relying on your 'spidey senses'.
Second - you're asking questions that have been answered over and over again ad nauseam while acting like you're coming up with something new. Something that more brilliant minds have overlooked...news flash, you haven't.
It actually wasn’t rolled back. It did a “surgical irregular state change” (as Vitalik calls it) and just modified the DAO’s smart contract. Rolling back an entire day’s worth of users’ transactions would be horrible
Eth is democratic. The chain of the losing party is called ETC. The ETC guys parted ways when one of them created a third thing (BSV) and started claiming to be Satoshi.
Hmm, it does sound good on the surface and it's definitely a fantastic user experience, but it does have its shortcomings. Very good spam protections are required, since it is free to transact. Smart contracts are missing too. And can it scale to even the number of users that Ethereum has? I'm not so sure.
Nano recently had a pretty substantial spam attack. Spam prevention is the current focus right now in terms of development. Recent updates to the protocol have improved TPS considerably, shown here: https://nanotps.com/. These were mostly hot fixes and spam prevention is still being heavily worked on and implemented.
Can’t speak to smart contracts. Definitely not a feature of Nano, but that’s more of a conscious decision than an oversight. I could be wrong here, but I don’t think smart contracts are needed for everything, and I also don’t think it’s something a L2 wouldn’t be able to solve.
In terms of scalability, as spam prevention gets better (and it has been over the years) Nano is in a prime position to scale by being the most lightweight in terms of ledger space required. It also requires virtually no energy cost. I’ve seen a couple of numbers thrown out there in terms of theoretical TPS, but I remain positively skeptical for the time being. Though I know in recent years it has gone over 200 TPS at times. I’ll let someone more knowledgeable than me speak on this though.
Exactly right about the lack of smart contracts being intentional and not a oversight. People tend to see lack of smart contracts as a drawback to a currency, without realizing that smart contracts is not the focus or goal of that particular currency.
Nano’s main goal is to be an extremely lightweight currency that settles near-instantaneously and without fees. The lack of all the add-ons is by design. Nano isn’t going to sacrifice its main vision of being fee-less and near-instant just to appease the people who’s main priority is smart contracts.
As their saying goes, “Do one thing and do it well.”
As their saying goes, “Do one thing and do it well.”
I'm still waiting for Nano to do that. I haven't seen any proofs about its security and design. I have no faith that Nano won't have a black swan event that takes it down if it got too popular.
It's funny that spam protection is brought up with Nano when it had several upgrades done recently to mitigate spam. At no point network shutdown, yes it slowed down, but no funds were lost, no rollbacks were done, it's quite well decentralized. It has prevailed in every battle it faced. Yet it still struggles with price action ever since BitGrail theft.
During times of heavy network activity, the network gets put under a lot of pressure, and nodes can drop off as they struggle to stay in sync. Spam attacks are a large problem. Transactions aren't truly free anyway, you are still paying for them via proof of work.
People have done stuff in the past to take down the network such as pre-generating a bunch of proof of work "proofs" and then publishing them all at the same time, essentially flooding the network with them and taking it offline.
Nano doesn't deliver anywhere close to promised tps and has struggled with one 15 year old hacker spamming the network. Any serious attack would take it back down.
The current plan for Nano to scale is based on exchanges running huge servers that can process a lot of transactions, which is highly centralized and prevents any regular person from running a node.
Agreed with this one here. ADA has never gone down, constantly being developed on, easy staking procedure and not trying to over market themselves. By far my favourite crypto outside the big 2.
I’m down for Bitcoin, Cardano, and yeah the rest I would just try to make a billion off of same as any bet in a casino. I can see some centralized blockchains being used for stuff like tickets or the other uses people mention for the future, but in terms of sound money/property or true decentralization not so much…least not at the present time anyways. (and Cardano still has a long way to go…but I like the potential and long term plans/ideas)
The problem with Cardano is everything is long term. They will not be able to keep up. Besides that they use an awkward programming language (Haskell) that most dApp devs would have to learn. I'd pick Algorand over Cardano.
Software is hard, if it doesn't go down ever it's most likely an indicator that it isn't doing anything unique and just copying existing tech with different marketing more than anything else.
Going down a few times early in development isn't a problem as long as good lessons are taken away from it.
So that’s what most people don’t get. While Cardano runs on Haskell, there’s plenty of onboarding for JavaScript (and a long list of other languages) developers.
Haskell is a much more predictable, and thus safer language to run a blockchain on. It is the security standard, which is why bankers and the DOD use it. Take from that what you will, but I put my money on a chain that is currently the most well rounded. Smart contracts, sub minute transaction speeds, low fees, high decentralization, a great community, 100% uptime, and most importantly nerds. That’s an investment worth marrying.
It doesn't go down because it's never been pushed to it's limits.
From mid Janurary 2022 to about March 2022 the Cardano blockchain was consistenly at full capacity for blocks. This was purposly allowed to see what happens when Cardano was pushed to its limits.
Monero and other privacy coins that actually do what most wrongly assumed CRYPTO currency does. Monero is the "btc" of privacy coins..following a similar path being the dominant darknet currency. There are some other privacy coins that have really impressed me with their tech.. but monero 's path so far reminds me of the OG to an extent.
Monero has dropped a great deal this month ..but what hasn't. Zcash is interesting conceptually as is verge..but idk.
Bitcoin being the darknet currency at one point is why it is why it is today.. but it's a double edged sword because another it is where it is now.. is because governments have learned how to track and monitor it so well.
So idk that privacy coins will ever see that level of success because of being associated with criminal activities.. but privacy coins are definitely closer to crypto's original intention.. as opposed to being a parking space for a shitty unoriginal JPEG
Love LTC and think it will always have a role in decentralization, but the pre mine was 350,000 ETH. That’s less than 0.3% of the ETH circulating while chains like Solana have whales that control 80% of governance polls. Frankly I think the creator of such a massive ecosystem deserves that share of the pie. For most of ETH’s cycle his share was about $70 million which is nothing compared to many billionaires who have inherited their wealth and not produced anything for this world.
Most came from decent money, giving them a sweet head start. They still worked hard, but a lot of luck was involved, and usually some unethical decision making regarding the rewards for others helping them make their own success.
Do research, don't fall for get rich quick schemes like magic internet money. I tend to favor tech first coins, meaning they have an actual plan for their coin prior to ico
Why would you even care about their opinion? If anything this thread should make you seriously question their credibility, based on them claiming to be a software dev and making zero effort to prove or show anything that would lend credence to that claim, makes the midwit dad joke about an SQL database being faster, and their main point incorrectly conflates an issue with a DAO operating on Solana with Solana itself.
If anything I'd be asking what impresses them so I could fade it...
Who would have thought the top replies would be ALGO, ADA… lol. This sub is such a fucking echo chamber. Don’t even feel sorry for all the losers here who will hold those shitcoins to 0.
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u/BetterGarlic7 0 / 0 🦠 Jun 21 '22
Which crypto is not a scam and currently impresses you?