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by vorpalhex
2505 days ago
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There are some reasons to be skeptical of Blockstack in particular. They make a lot of claims, pump cash into apps without disclosing it's actual source (they claim it's from sales of a subtoken, but aside from a blog post, I can't actually find any evidence of that) and in general have built a JS heavy library that is setup for easy code injection. None of these apps need a blockchain. None of these apps gain any benefit from a blockchain. Just, I dunno, don't use a giant universally observable blockchain that suffers from the majority issue in order to store private data? Seems easy enough. |
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Regarding financials, I invite you to read our SEC offering circular for details on the source of the money: https://www.sec.gov/Archives/edgar/data/1719379/000110465919...
> None of these apps need a blockchain. None of these apps gain any benefit from a blockchain.
The blockchain serves as a "shared source of truth" for everyone's name/public-key/storage-URL bindings. So as long as you trust that the blockchain doesn't get re-orged, you may assume that your Blockstack node will independently calculate the same such bindings as everyone else's node. All other application activity (rightfully) happens off-chain, via commodity Web infrastructure.
EDIT: typo