10 things learnt from James Show with Bram Cohen. - Part 2.
1. Proof of Stake:- In which every currency owner gets a vote to say out what's needs to happen, on the state of currency.
Attacking - simply buy controlling (51%) stake of the currency.
If any controlling person/admin leaves out the system than it won't be easier for anybody else to take over it and keep running it. Bitcoin does have this property whereas Ripple fails at it. Proof of stake system is well run by a benevolent dictator.
2. ASIC Resistance - Custom hardware for minning.
3. During the early days of ethereum, few wallets got bricked, means frozen and the funds was never to be moved.
4. Chia is based on Proof of Space and Time.
Chia is currently over 10 exabyte of space.
5. Defi tokens like uniswap, allows transactions between bitcoin, ethereum and other cryptocurrency.
uniswap is about providing liquidity in these crypto currencies for trading in between them.
6. Tokenizing stocks, carbon credits, future earnings, home value - an efficient market other than wall streets.
chia network could be used for these kind of tokens.
7. Exchange to trade between multiple tokenized assets.
8. If an attacker/hacker attacks your chia wallet, than chia could rate limit the outflow of fund.
9. Game companies can tokenize their virtual currency, making people to interchange their earned currency from one game to another game.
10. Transaction cost is directly proportional to chia usage in the market.
With more usage, transaction cost would be higher.
11. A lot of cryptocurrency investors want tokens access in place of equity for pumping and dumping.
Chia doesn't support it and would like to protect rights of end user.
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