1064
Please bro (sopuli.xyz)
submitted 1 year ago by to c/memes@sopuli.xyz
126 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] 1 point 1 year ago (6 children)

Lightning can, in theory, do one million transactions per second. But Bitcoin networks aren't really a drop in replacement for Swift.

Banks like J.P. Morgan prefer chains like Canton that are privacy enabled and have no upper limit on transaction.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 6 child comments
    •
  • [–] 1 point 1 year ago (5 children)

    First time hearing about Canton. Is it properly decentralised?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 5 child comments
    •
  • [–] 2 points 1 year ago (4 children)

    You've not heard of it because it is banking focused. It's the newer option made to compete with Quorum and Corda.

    It is decentralized, but it is not open write access. It a public permissioned network of private ledgers.

    You and I could validate that the network is cryptographicly consistent, but we don’t have decentralized permission to interact.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 2 points 1 year ago (3 children)

    So, not decentralised in it's original sense, if a pack of people decide which operations are allowed. Decentralised as in "not a single bank".

    See, this is what I mean when I say they all have flaws.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 1 point 1 year ago (2 children)

    There is no central entity, so it is decentralized in the original definition. I gave Canton as the example because it could be immediately substituted for Swift. It's permissioned access by design, because banks don't want to risk their monopoly position.

    For speed and cheapest, go for solana.

    For reliability go for Ethereum. For reliability, speed and cheapness choose an L2 on Ethereum.

    For illegal stuff use monero.

    There are trade offs between them, but I wouldn't call them flaws. Blockchain as a technology definitely "works".

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 0 points 1 year ago (1 child)

    If you have trillemas all over it IS flawed in one way or another. End users won't get through the complexity of multi-choice where every one has downsides. How do you even drive the adoption if every store would accept only their crypto of choice?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •