Topic: 5 Challenges Facing Your Smart Contract Project (Read 411 times)
I'd argue that public blockchains, as we know them up to this point, have the better chance at staying decentralized than any attempt for a private one. It isn't just about mining but also about participation in the propagation network which today is also done by non mining nodes.
Are you thinking of building your next project with Ethereum, Rootstock or some other smart contract platform?
Before you start investing resources, take into consideration some fundamental problems with smart contracts on public blockchains.
https://makebitcoingreatagain.wordpress.com/2016/02/10/5-challenges-facing-smart-contracts/
TLDR...
Before you start investing resources, take into consideration some fundamental problems with smart contracts on public blockchains.
https://makebitcoingreatagain.wordpress.com/2016/02/10/5-challenges-facing-smart-contracts/
TLDR...
- No guarantee of transaction execution
- Turing-complete smart contracts are slow
- Scaling is a moonshot
- Oracles break the trust model
- Public blockchains struggle to stay decentralized
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