what product sits on the fence between layer 1/2? a concert ticket, dinner for two, a car? What does the computer science dictate here?
At scale, you can't pay for coffee on a premium global blockchain. You'll need a peripheral financial ntwrk that settles on that blockchain.
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Computer science doesn't give anything like a precise answer. Engineerng says to allow ample margins for error if you want to remain secure.
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Can be confident that if one secure blockchain was used for all world's high-value txs, fees would be too high for most or all of your list.
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(and would cost way too much energy)
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Do you have an impossibility proof that premium global blockchains can't pay for coffee at scale? Is innovation out of the question?
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It's unlikely: all known varieties of Byzantine consensus have negative economies of computational & network resource scaling.
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Far more likely scaling on-chain coffee payment compromises security, so that blockchain is neither premium nor seamlessly global.
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Ok. This is an educated guess, an opinion. "can't" and "need" in original tweet don't reflect that.
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At scale those will have the same problems as Bitcoin.
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How do projects like
@melonport factor in? Do you think interblockchain transactions are feasible? -
Not small txs, and sidechain/cross-chain txs are not as seamlessly trust-minimized as on-chain txs. But they will be important.
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Do you think the Lightning Network could be a viable solution?
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Are many solutions & potential solutions based on Lightning & variations thereof. I expect some of them will be spectacularly successful.
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But you think all solutions will be pegged to the BTC blockchain?
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@NickSzabo4 What are your thoughts on IOTA?
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When the utopia/knowledge ratio gets too high everything negative is non-obvious.
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Quite chuffed to get a reply
thx. I'll admit I was a 'big blocker' 2yrs ago but I did my research and came to the same obvious conclusion.
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読み込みに時間がかかっているようです。
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