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Trustless

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by demux • 4 years ago

2 1 4 years ago

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thr0wawayf00• 4 years ago

The NFT era is a case study on the problems of trustlessness.

If the entire system is designed to be trustless and a snake oil salesman comes in and builds a secondary retail system on top of the system full of empty promises and garbage art and whole thing blows up, everyone loses. Not just the folks that bought the snake oil.

To be a crypto purist is in this era means accepting that most of the retail systems built on top of the core protocols is garbage at best and straight up fraudulent at worst because it's about as free a market as it gets. You still have to trust that everyone using the system isn't trying to pump and dump, which isn't possible to do.

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