The short version:
They’ll allow you to borrow millions of dollars for up to ten minutes if you code a smart contract that programmatically guarantees, atomically, that you will repay the millions of dollars in those same ten minutes.
They’ll allow you to borrow millions of dollars for up to ten minutes if you code a smart contract that programmatically guarantees, atomically, that you will repay the millions of dollars in those same ten minutes.
“What user need does this serve?”
Leverage on the side effect attacks you’re making on other market participants.
That’s no longer a hypothetical use case, either. (See article.)
Leverage on the side effect attacks you’re making on other market participants.
That’s no longer a hypothetical use case, either. (See article.)
I thiiiiiink you must be able to use these primitives to effectively assert irrationality of 1+ participants in cryptocurrency ecosystem, paying gas cost ($10 or so) if the blockchain-based theorem solver judges your asset as unsatisfiable and “arbitrarily high” otherwise.
*assert
