Replying to Avatar josh

I took a dive (a little beyond surface level) to see what it's all about. My barber told me about it and said he was going to quite because he was going to be rich lol. Isn't the point of keeping track of a full transaction history so that you prove there's no double spend?

Would love to hear your conclusions.
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hodlbod 1y ago

Ok that's a red flag 😂

My impression is that it's technically pretty good (with the caveat that I don't understand the trade-offs of ZKPs at all), but can't compete with bitcoin due to network effect.

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josh 1y ago

Have you ever looked into Botanix Spider chain? That's the only other white paper I've read. It's native coin is similar to Liquid Bitcoin where your bitcoin gets locked up in multisig. The whole thing works off the current bitcoin block hash to point to a node to mine the block (instead of an oracle like Ethereum).

Choosing a miner based off the bitcoin block hash is what made it click for me. I lost interest in them for a while because they talked about building alt coins on it, but I'm curious now if it's different.