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by KMnO4
548 days ago
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> Needlessly tied to crypto Let’s unpack that. By “crypto” you probably mean cryptocurrency, but let’s not forget it’s the same crypto as in cryptography. You absolutely want cryptography involved in something like this for obvious reasons. You’ve probably also heard the term blockchain and immediately think of speculative currency futures. So throw that to the wind for a second and imagine how useful a distributed list of records linked and verifiable with cryptographic hash functions would be for this project. Then finally, run this all in a secure and autonomous way so that under certain conditions the action of releasing the key will happen. In other words: a smart contract. This is an absolutely perfect use of Ethereum. If you think cryptocurrencies are useless, then consider that projects like this are what give them actual real world use cases. |
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Isn’t effectively all the trust still in the party releasing it at the right time, or not releasing it otherwise? If so, is the blockchain aspect anything other than decentralization theater?
I guess one thing you can do with a blockchain is keeping that trusted party honest and accountable for not releasing at the desired date and in the absence of a liveness signal, but I’m not sure that’s the biggest trust issue here (for me, them taking a look without my permission would be the bigger one).