• vga@sopuli.xyz
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      4 days ago

      It’s a pretty old cryptocoin: initally released back in 2015, and a significant change deployed in 2022. It was then when they changed from proof-of-work to proof-of-stake, which basically means that they don’t use mining anymore to keep the network running. They use like 1% of energy compared to PoW coins.

      Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I’ve never seen any practical use for that stuff.

      Still, I think Eth is one of the cryptos that actually tries to be useful and efficient in some way and not just a stupid pump and dump scheme. Turns out, nobody gives a fuck about that, perhaps?

      • dx1@lemmy.world
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        4 days ago

        Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I’ve never seen any practical use for that stuff.

        Anything you need complicated multi-party interactions for that you want guarantees on. Real estate escrow comes to mind first. Depository accounts with yield. An immutable archive of records. Multi-signature corporate treasuries. Whatever. It’s programmable money. It’s not even necessarily monetary, because smart contracts can just deal with arbitrary data.

        Never impressive to see a technical audience shit all over Ethereum for internet points. By far the least scammy crypto people have actually dedicated years into building something real on.

          • dx1@lemmy.world
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            4 days ago

            I reckon most of that already is. A real estate escrow smart contract is maybe 200-300 lines long in Solidity, depending of course on what it supports (contingencies and such). You may want to actually go look around, because there’s I don’t know how many millions of lines of Solidity already written. It doesn’t all get as much publicity as NFTs.

            • Knock_Knock_Lemmy_In@lemmy.world
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              3 days ago

              The off chain legalities are the tricky part of a real estate crypto deal.

              Can changing house ownership really be as simple as making an alterations on a decentralized ledger?

              • dx1@lemmy.world
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                2 days ago

                You can mimic any existing setup for tracking deeds and similar, or invent new ones, with the added quality that they can’t be doctored. Once something is recorded, it’s recorded for good.

                • Knock_Knock_Lemmy_In@lemmy.world
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                  1 day ago

                  Blockchain is immutable but legal contracts usually are not. They have break clauses, implied rights etc.

                  I suspect everything can be implemented correctly, but my doubt isn’t technical, it’s legal.

                  Think of a smart contracts like a vending machine. You can’t just build one and start selling real things from it. Laws need to be followed.