Since we discussed the potential of using L1 for defi - here is a fun fact:
To fully support L1 DeFi you need atomic composability. To achieve atomic composability you need "blocks" of transactions where either all succeed or all fail.
So instead of sending just a single ...
To fully support L1 DeFi you need atomic composability. To achieve atomic composability you need "blocks" of transactions where either all succeed or all fail.
So instead of sending just a single ...
... transaction in every message we have to allow blocks of them to be sent.
The larger these blocks get, the more likely it is that they contain conflicting information and the more "chainy" the tangle would become.
If you would set the block size to be really large and ...
The larger these blocks get, the more likely it is that they contain conflicting information and the more "chainy" the tangle would become.
If you would set the block size to be really large and ...
... let the blocks be filled by i.e. miners then you would have a consensus mechanism that is equivalent to ETH's GHOST consensus.
IOTA's datastructure therefore represents a complete generalization of Nakamoto Consensus and you can go from a Tangle to a BlockDAG to a ...
IOTA's datastructure therefore represents a complete generalization of Nakamoto Consensus and you can go from a Tangle to a BlockDAG to a ...
... BlockChain by just changing a single parameter in the code.
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