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RE: EOS - Development platform first!
This.
This is the diagram showing the tradeoffs between security and (ease of use, free transactions, whatever other pansies EOS claims).
For account names, Ethereum has ENS.
Free transactions, Ethereum has abstraction.
Recovery accounts and security? You don't want any of those 'features' listed under EOS. And if you did, you would implement them on top of a service whose core worked like Ethereum. There is a reason you can't get your account back it you lose your password.
Speed, well this is for Raiden and sharding. Much more secure than the DPoS tradeoffs.
Nothing against EOS but there are some tradeoffs involved. See these posts for some more reason regarding EOS.
Also what is the reason you cant get the account back if you loose the password? Is it technical or are you talking more of a priciple issue?
Because of public key cryptography. The fact that you lose the money if you lose the key is the point of these systems.
Punnishing systems like that tend to keep amateur users away. If I had to do a crash course in crypto to anyone who joind I would loose 80% of my user base probably. If I dont and people start loosing access riots:) you will eventually educate the crowd but the entry level needs to be extremely friendly and not at all punishing.
It is not stopping trustworthy intermediaries from building layers on top. You don't want the base layer to have such a loose and insecure architecture. There will be crypto banks that make it so your average user doesn't have to worry.
Again, the "punishing system" is the entire point of crypto. If you don't want that, just use a database.
But then we do want crypto for the masses do we not? Also the "there will be"... when? How much to wait for ETH to get there? That is the question. Business needs to move fast or die.
Well if you think this space is ready for mass adoption you are wrong.
Isn't steemit a proof that mass adoption is almost there?
Nope. Steem is not mass adoption. Steem can't scale very well either. I don't know how it would handle FB level growth and use.
Mass adoption and the ability to handle it is coming fast.
It is not here now.
I'm sorry @nadejde, but I think you're missing the point. Is not a punishing system, At the base level, the private key is the only way to link the real owner. Recovering keys means someone has the power to just generate a new access for your account and that loses the whole point of being decentralized. We don't want a single entity holding the keys for us, thats the only reason cryptocurrencies exist. You can create new layers on top of the contract or app or whatever. Whats your app about that your need a decentralized blockchain in the first place?
Hi,
I am aware of the tradeoffs. And I think they are worth it. Every developer building their own account management system that makes sense is going to end up in alot of people loosing their stuff... these services need to be built into the network.
Also I have no interest in the techinolgy from the payments and finance point of view. Even if it was less secure as you say ( and I'm sure smarter people than I am can comment on that point) this would not be a problem.
Well yes and no. The point where people lose their stuff is because of the security offered by Ethereum/BTC. If there is a system that allows for account recovery and transaction reversal, you have fundamentally reduced the security. That might be a worthy tradeoff but it is less secure. That is the reason that you can't recover lost keys.
Not transaction reversal. As I understant the transaction is not final intil the time delay expires. The intent is still immutable. Once the timedelay has passed an the intent becomes transaction that is also immutable.
Time delay or not the transaction has no sense of finality when using that.
Again it is a tradeoff. Not necessarily a bad thing.
Agreed. Its just a different way to look at things. ETH and EOS will likley have different targets.