Another systemic flaw highlighted in the report is that there is no penalty system in place if a node operator starts acting out of the line.
Umm...does anyone at DARPA actually understand the very basic concepts of a decentralized blockchain? Each operator gets to act in his own best interest by design. Even if that is counter to the best interests of the community. But ultimately, an individual rogue operator has no power to change anything.
There is no penalty by design. In fact, any individual node is essentially always considered untrustworthy. And since anyone can simply close a node and start a new one in minutes, it is futile to implement a penalty system. Enter the Byzantine Generals problem, and Bitcoin's solution. The safety relies on the fact that getting 51% of the nodes to simultaneously misbehave is nearly impossible.
Even DARPAs admonition that "21% are running old software with security flaws" doesn't rise to the level of being a serious threat.
This is just FUD in an attempt to pave the way for CBDC's.
I could pull up posts where I warned people about these cryptocurrencies, but I'm not one to gloat. All I can say today is get out while you still can, before you lose everything.
President Trump will be returning one day soon, and he's already given his disapproval of these cryptocurrencies.
The new currency which will be backed by precious metal makes cryptocurrencies redundant. The new tax plan will be based on sales taxes. Making purchases using cryptocurrencies would be stealing from the tax base. Having a competing currency that thwarts Trump's future tax plan will be frowned upon, it will not survive.
Thank God we have DARPA looking out for us.
This fear mongering:
Umm...does anyone at DARPA actually understand the very basic concepts of a decentralized blockchain? Each operator gets to act in his own best interest by design. Even if that is counter to the best interests of the community. But ultimately, an individual rogue operator has no power to change anything.
There is no penalty by design. In fact, any individual node is essentially always considered untrustworthy. And since anyone can simply close a node and start a new one in minutes, it is futile to implement a penalty system. Enter the Byzantine Generals problem, and Bitcoin's solution. The safety relies on the fact that getting 51% of the nodes to simultaneously misbehave is nearly impossible.
Even DARPAs admonition that "21% are running old software with security flaws" doesn't rise to the level of being a serious threat.
This is just FUD in an attempt to pave the way for CBDC's.
Of course I will listen to the experts and it is purely .... " theoretical" ..... meaning it is true.
I could pull up posts where I warned people about these cryptocurrencies, but I'm not one to gloat. All I can say today is get out while you still can, before you lose everything.
President Trump will be returning one day soon, and he's already given his disapproval of these cryptocurrencies.
The new currency which will be backed by precious metal makes cryptocurrencies redundant. The new tax plan will be based on sales taxes. Making purchases using cryptocurrencies would be stealing from the tax base. Having a competing currency that thwarts Trump's future tax plan will be frowned upon, it will not survive.
Then explain to everyone why the Trump family is using blockchain? Melania and Solana to be specific...