this post was submitted on 31 May 2022
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There are several oversimplifications to watch out, but still interesting.

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[–] guojing@lemmy.ml 2 points 2 years ago (1 children)

You cant build a cryptocurrency without blockchain. So ita certainly more than a strange edge case.

[–] null_radix@lemmy.ml 2 points 2 years ago (1 children)

I agree; but what @dessalines@lemmy.ml says still holds true I think. Most transaction should probably use layer 2 solutions such as lightning network and only fall back to the blockchain in cases for dispute or settlement which should be a rather infrequent event compared to transacting.

[–] guojing@lemmy.ml 1 points 2 years ago (1 children)
[–] null_radix@lemmy.ml 1 points 2 years ago* (last edited 2 years ago) (1 children)

ok, well then replace lightning with payment channels in general then. Why is lightning a scam?

[–] guojing@lemmy.ml 4 points 2 years ago

Because you have to trust some huge, centralized nodes which can steal your money, or charge extra fees. So basically a bank.