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RE: Witnesses in Byteball

in #byteball6 years ago

I like the format of the article, it makes it easy for new users to get a picture about Byteball witnesses.

To me the "Byteball is not a trustless system" sounds a little harsh. Peer to peer transactions are still carried out in a trustless way: you don't have to trust the peer you deal with. You trust the Byteball network (or an external oracle), but that's the same with Bitcoin or any other crypto, you have to trust that 51% of the mining power is provided by good miners, but there they are anonymous so if they misbehave you can only guess who. In Byteball, witnesses are supposed to be public figures, so if they misbehave, their reputation is ruined. Also in Byteball users can actually chose witnesses that are geographically distributed and operate in different countries and have little interest to form a cartel to ruin the network. You can't say that about Bitcoin for example.

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You are right. I will write my next article about that.
Thank you so much.

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