[ikken]

Every time you hear about cryptocurrencies that allow fee-less, immediate, eco-friendly transactions, it's worth to wonder why dominant cryptocurrencies still suffer from those issues.

For example, one reason for the existence of transaction fees is to prevent network from being DoSed (overwhelmed in terms of processing and storage) by flood of "free" transactions. How can e.g. Nano handle this problem with no fees? This and other problems are discussed in section "V. ATTACKVECTORS" of their whitepaper [1].

Unfortunately, rather than provide concrete, mathematical solutions, the white-paper provides mostly "discussions" of why those issues are not really a problem or that some feature will prevent them (e.g. PoW attached to each transaction - which in itself is form of a fee, non eco-friendly and might be prohibitivly slow at scale). Those discussions are not researched enough to give assurance that Nano would function efficiently and securely if it were ever to get popular.

Blockchains are very inefficient and a we're still figuring out how to make them faster and cheaper without sacrificing too much security and decentralization. But as is often the case - there's no free lunch. And extraordinary claims require extraordinary proofs.

[1]. https://content.nano.org/whitepaper/Nano_Whitepaper_en.pdf

[donutloop]

Bitcoin is a failure.

Ref

[1] https://m.dw.com/en/tesla-changes-stance-on-bitcoin-amid-cli...

[2] https://www.nysfocus.com/2021/04/13/new-york-bitcoin-mining-...

[3] https://finance.yahoo.com/news/bitcoin-mining-pool-hashrates...

[4] https://medium.com/nanocurrency/fight-the-climate-crisis-use...

[5] https://www.cnbc.com/2021/04/08/chinas-bitcoin-mining-is-thr...

[6] https://www.reuters.com/technology/how-big-is-bitcoins-carbo...

[7] https://www.bloomberg.com/opinion/articles/2021-01-26/is-bit...