I really hope that DeFi and it's inevitable future of having to deal with these kind of "problems" will finally make people understand why it is a bad idea to build decentralized systems that try to establish a shared perception of time among all nodes.
https://twitter.com/hus_qy/status/1362687512947421189
It doesn't just severely limit scalability but it also creates these really tricky problems where even if you build a system that is "secure" and where the participants are incentivized to behave "honest", it ultimately doesn't matter because at the end of the day every ...
... block producer runs an algorithm and there will always be people that will study these algorithms and try to game them to their advantage.
As soon as you give "somebody" (no matter how honest) control over how others perceive time you are in for some serious problems.
As soon as you give "somebody" (no matter how honest) control over how others perceive time you are in for some serious problems.
I have time and time again heard self-proclaimed DLT-experts state that the biggest "breakthrough" of Blockchain was that it gives us a decentralized and trust-less perception of time. I could not disagree more.
I think that it is exactly the opposite! One of the biggest problems of DLT and "for that matter" blockchain is that it requires nodes to establish a shared perception of time through one single longest chain.
We already know that this is not how the universe works (time is relative), so why are we trying to build the decentralized future of humanity on these fundamentally flawed ideas?
The future of decentralization is in the "parallelization" of state changes and not in building better "sequentially processing" machines.
#ParallelRealityBasedLedgerstate #IOTA
#ParallelRealityBasedLedgerstate #IOTA
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