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RE: Blockchain Generations: From Bitcoin to Smart Contracts and Graphene

in #bitshares7 years ago (edited)

I like the DPoS system but I fear that it may make it easier to hamper networks that use it. Is it easier to target hundreds of mines or thousands of users or 20 or so witnesses. If we're living in a future where state players see crypto as a threat, then the more underground a network is the more likely it is to gain use when legislation, regulatory and other... more direct methods of dealing with threats to the system are harnessed.

As states move against crypto or seek to co-opt their movements then it could be as simple as using their current toolkits to either move their own witnesses into positions of power or threaten existing witnesses. As it becomes more dangerous to be a witness people will question if those remaining are really acting in the networks' best interests.

I'm of the opinion that there remains the very real possibility that the carrots and sticks used to cripple crypto will be hard to deal with, but there may be many who continue to see the utility in distributed networks that are privacy-oriented even in such an environment. In fact users of steemit may avoid a lot of the more detrimental attacks and notions of this crypto as a tool of bandits, thieves and smugglers may get dismissed, as the faucet encourages the identification of the users.

And just so I'm understanding this right, graphene boils down to using filters to cut down on the size of the block a node has to download, and isn't btc segwit compatible? If it turns out to that this and other such technologies operate in the wild without a hitch then it's all the more evidence that bitcoin is pretty much dead in the water as far as mass adoption goes as it's ultimately replaced in use even as a "store of value". Good as gold my ass if the tech isn't up to par.

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There can be thousands of witnesses too.

I feel like that may be required of networks in the future.

Before Downvoting This Post Read This On Steemit -
http://bit.ly/2DMU1bh ! #ripsid hashtag ! If u are not going to donate then atleast this article

Bitcoin will continue to rise for now because the Dollar is dying, but Steem and others can rise over Bitcoin in the next few years maybe. We are in big global transitions and Bitcoin is still pretty new for some people. So, we may not be there yet for too many people to make it pass Bitcoin to better alternatives. It takes maybe more time for that to happen.

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