(no title)
anchpop | 3 years ago
But more broadly, there is really nothing else with the same security properties as a smart-contract-enabled cryptocurrency. Paypal will delete your account any time they want, Visa and Mastercard will blacklist whatever industries they feel like blacklisting, etc. If you want a system that's decentralized and where these attacks aren't possible, you have no alternative. The problem is that current blockchain-based systems can only handle a certain number of operations/second while remaining decentralized. The appeal of scaling solutions like ZK-rollups is that they give us the same security properties as the main chain without any security compromises (relative to the main chain). That's all conditional on their code being correct, but given that there's such a large payout to hacking e.g. bitcoin or ethereum or zksync and it still hasn't happened, we can guess that the coders have done their jobs well and such problems are at least very difficult to find.
easrng|3 years ago
nwiswell|3 years ago
By comparison, if PayPal decides to freeze your account, that's it, the end, those funds are frozen unless and until you successfully run the corporate supplication gauntlet.
anchpop|3 years ago