this post was submitted on 13 Jul 2023
1011 points (98.3% liked)
Programmer Humor
32561 readers
339 users here now
Post funny things about programming here! (Or just rant about your favourite programming language.)
Rules:
- Posts must be relevant to programming, programmers, or computer science.
- No NSFW content.
- Jokes must be in good taste. No hate speech, bigotry, etc.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
My thoughts exactly.
I was told that except for flying scams under regulatory radars, the thing it’s great at is low-trust business transactions. But like, there are so many application-level ways to reasonably guarantee trust of any kind of transaction for all kinds of business needs, into a private database. I guess it would be an amazing solution if those other simpler ways didn’t exist!
I personally really like what Monero is doing with blockchain, but in most cases attempts at cryptocurrency (when not outright scams) fail in terms of privacy or performance. Bitcoin (the most popular one) has both of these problems, it is slow, limited to just around 7 transactions per second. Bitcoin also lacks any privacy, with transaction history completely public. Monero has to do a whole lot of work to obfuscate transaction history.
Currently basically all of these have another scalability problem due to the size of the blockchain constantly getting bigger, with Monero's strething up to 150GB and growing.