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31 sats \ 2 replies \ @k00b OP 25 Sep 2022 \ on: Reversible Transactions on Ethereum bitcoin

This is a bit of a misleading title, probably for clickbait, but it's been circulating on twitter so I thought it'd be fun to discuss. It's actually proposing reversible token transfers in smart contracts by crowning trusted "judges" to be able to reverse them. It's not the consensus change that it seems to imply.

The more ambiguous piece of this puzzle concerns the “decentralized quorum of judges.” Who are these judges? How do they vote? How do they get rewarded?

These logistics are ultimately up to the governance, a.k.a. whoever creates the instance of the ERC-20R/ERC-721R. In our paper, we explore how to discourage judge dishonest and bribery, reward mechanisms, and more.
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2 sats \ 1 reply \ @pitiunited 25 Sep 2022

I have no doubt about it - eth is going to be the CBDC

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0 sats \ 0 replies \ @Brunswick 25 Sep 2022

I think the fed wants ethereum tokens to be the basis for stable coins, and this is why they have been influenced to move to POS to reduce transaction cost and improve on-chain speed. It the size of the database will quickly become untenable for anything but a big business. They're basically making the perfect cbdc, something that is flexible to market forces for technological adaptation but traceable by the feds, a.k.a. the human centipede of currencies.

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