this post was submitted on 21 Nov 2024
73 points (98.7% liked)
Asklemmy
44149 readers
1433 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
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
As long as it's one of the actually efficient cryptos.
Monero ftw
Ripple is also nice, if you want to go the non-anonymous route.
I do not understand why you would want a money that can be traced by anybody with a web browser that just seems a bit ridiculous to me.
Probably for the same reason people put other sensitive stuff in mystery software: if it's not physically visible the threat doesn't seem real to them. Obviously, that's dumb, but you did directly ask.
There's a lot of overhead involved in making it untraceable like that, and it's not clear how much of it can be achieved using postquantum algorithms. Ripple is also nice in that it doesn't bother with a blockchain at all.
Ripple does actually use the blockchain. It's called the Ripple ledger. Its symbol is XRP and you can buy it
Yeah, I know how Ripple works. The ledger is not blockchain-based.
Okay, then in that case you know more about it than I do because I've been under the impression for a very long time that it was blockchain-based.
Edit: https://xrpl.org/
Yeah. A blockchain is a chain - new stuff is built on top of old, and it grows forever. Ripple's ledger is all relatively up to date information IIRC. It doesn't actually need the chain, because as long as a critical number of nodes agree on a single order of transactions, they can agree that only the first spend of a set is valid if it would otherwise lead to double-spending (which is the main challenge of a distributed currency).
How that agreement is reached in an asynchronous network with possible malicious nodes is the real trick, and at that point I do start getting fuzzy on the details. Byzantine fault tolerance is hard. I think I'm actually going to read the whitepaper (again?), now that I'm thinking about it.
Edit: It's still not. I guess "blockchain" has just become just a marketing term at this point. The current crypto market is dumb even if crypto isn't.
๐คฏ
Glad I could share something interesting!