I saw you are now accepting BTC and ETH, even fiat money! Good job!
Yes! I tried. You still need to create a XLM address and they send you the AXU then
Topic: xxx - page 18. (Read 50293 times)
The project declares that there are no risks on the part of counterparties. Yes, I am generally inclined to think that such risks will be eliminated within the network. But what if someone wants to use the network for fraud? How does the team plan to fight this?
By definition, a decentralized open source blockchain network does not have a central counterparty. Since there is no counterparty, there is no counterparty risk for a transaction not to be completed, cleared and settled. The risk for fraud is universal and certain types of fraud cannot be eliminated, if e.g. someone buys something and pays for it, but the goods won't get delivered by an unreliable party. Such risk could, however, be also managed by blockchain tech, where the goods to be sold are recorded in a blockchain and there is an escrow mechanism to control, where they are, so that payment will not be received before the goods are delivered. However, as concerns the payment transactions themselves, they cannot be forged or manipulated, so there cannot exist fraudulent transactions as all of them are real, but the intentions behind any activity are beyond control. However, anything that goes in or out of the network can be also controlled at the bridge interface level to ensure it is compliant, but, as said, what are the intentions behind any commercial or financial transaction, that cannot be controlled by anyone, and the transactions themselves may be legitimate regardless.
It is planned that any organization or institution will be able to join as a bridge facility. How will undesirable organizations be screened that can use the network for socially dangerous purposes?
Crypto-friendly organisations are interested in joining. Some such entities may also newly emerge. Don't know what you mean by "socially dangerous" - one can never know what is the ultimate purpose of someone's transaction, which can happen anywhere. There are, however, means to limit what is not legitimate, when interfacing with bridge entities, to fulfil any requirements for transaction compliance.
Is your platform scalable enough for working with huge amount of users successfully? You promise high speed of transactions, etc. but will it be still here when you got some 100 millions users? Or just even several thousands.
The network is being designed with this in mind, the requirement to be able to have eventually hundreds of millions of users. The problem/challenge will be the size of the blockchain getting enormous (the problem of all large blockchains - we can see that the file size of e.g. Ethereum blockchain is getting very big, slow and cumbersome...), so there will need to be a sharding or similar solution to asymmetrically split the blockchain so that all is not replicated exactly in all parts, because this is one of the major causes of slowing down and clogging the blockchains, when the blockchain file gets too big. This is definitely one of the very major challenges for any project aiming at global scale and speed - the file structure cannot get too heavy, and there needs to be a 'balanced decentralization' approach to make sure the nodes operate efficiently and communicate between each other swiftly enough. All very important challenges indeed.
In the WP you declare your bridge entities as a replacement for banks, but at the same time independent of all external structures like the state. If the project will perform the bank lending function, then in the event of a delay in payments on the loan, how will the money be collected from the debtor?
I'm worried about the question, how much computing power will be required when working with the Hydra network? For such a scale, which is assumed by the project team, this moment is the key. Plus I would like to inquire about the speed of transactions. Can Hydra circumvent Visa's speed of operations?
The computing power requirement will be much less than what the mining-based (PoW/PoS) blockchains required. The scaling up issue will not be a problem - it does not happen overnight but over a period, when more nodes join the network, and it will scale up. The initial setup will be provided by the project, and it will move on from there in a decentralized manner as it should.
The transaction speed will depend on the network architecture, the solutions developed, and the setup of core nodes. There is always a balance between certain key factors. Looking at what has been done so far, with a certain setup it will be possible to achieve tx throughout beyond Visa etc. and reach a global level. This is part of the process, and it will not be achieved overnight - nobody has.
I don't really know much about Argentine economy, but I hear it's shrinking ~6% when compared to the same period from the last year.
Is now a good time to invest in Argentina and its projects? Maybe the economy doesn't affect your project at all?
Is now a good time to invest in Argentina and its projects? Maybe the economy doesn't affect your project at all?
Where did you find anything about Argentine in the project?
Hello! I have a question: can all assets be exchanged in your network? Will there be any technical limitations in this area?
The decentralized exchange structure of the network will enable exchange of any assets issued on the network. In principle, there will not be any limitations, as any asset can be issued on the network through bridge entities, if it is not the native cryptocurrency or built on top of the native digital asset.
So users will be able to transfer any currencies (from fiat to crypto), right? Did you start interacting with banks in different countries? I guess such process will take much time.
The protocol and a decentralized exchange structure leveraging it has been conceived so that it can be effectively (while operating its native cryptocurrency) 'currency-agnostic' i.e. transfer any currency or item of value (when 'tokenised') over the network.
Banks as 'bridges' will have a role only when it concerns respective fiat currencies and securities, interfacing between the network and the traditional economy. Yes, it will be a process for the long run, when the network coverage grows, there is more and more interaction between traditional and crypto economies, and eventually the crypto economy will take over.
Speaking about democratic network. What do you mean, no tons of documents needed? What exactly? Also I would like to know does Argentas offer lending and credit? You say about banks dissapearing, but can your project provide all services banks do now?
"No tons of documents needed?" We don't know what exactly you mean by that, but obviously with automated blockchain platforms a lot of red tape and bureaucracy is cut off, when things move virtually in decentralized platforms that are do not require any paperwork for native transactions.
Argentas is a technology project, not a provider of lending and credit. There may be applications that make that possible, and development of such dapps will be possible on this platform later on.
Banks will not "disappear" outright, but eventually, when this technology makes the current form of banking redundant and the same products and services are taken over by the new advanced decentralized blockchain-based platform, its native cryptocurrency and the dapps that provide value-adding services.
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