[HN Gopher] Coinbase Cloud
___________________________________________________________________
Coinbase Cloud
Author : hasheddan
Score : 189 points
Date : 2021-10-02 00:04 UTC (22 hours ago)
(HTM) web link (www.coinbase.com)
(TXT) w3m dump (www.coinbase.com)
| LurkingPenguin wrote:
| > Coinbase Cloud has it all.
|
| Unfortunately, I don't see the API where I get $90 million
| accidentally transferred to my wallet. :(
| fidesomnes wrote:
| And the winner for the worst idea of the year goes to Coinbase.
| bubersson wrote:
| The API doesn't even have support for Lightning.
| qualudeheart wrote:
| Will this service be using Rust?
| exdsq wrote:
| I think they're a Go/Typescript shop, but crypto does love
| Rust!
| qualudeheart wrote:
| Cardano ecosystem used to use Rust a lot. Currently moving to
| Haskell. Few other big ecosystems using Rust too.
|
| Imo future is more expressive rust-like languages.
| AlexCoventry wrote:
| I thought they'd been using Haskellfor years, and the rust
| development was relatively recent.
| exdsq wrote:
| Yeah Cardano has been Haskell for years and some Rust for
| a secondary implementation of the node (Jormungandr)
| knownjorbist wrote:
| Polkadot is Rust and WASM based.
| Havoc wrote:
| Looks interesting. Or at least one step closer to improving
| access to tooling.
|
| I can totally see coin base becoming the de facto platform for
| this sort of stuff. Not ideal centralisation wise but oh well
| knownjorbist wrote:
| Fleek is basically Vercel or Heroku, but for Web3. For those
| with more at stake, it's probably better to go with a big
| player like Coinbase.
| Underphil wrote:
| Unrelated, but nothing reminds me I'm getting old more than
| an entire sentence of words I don't understand.
| akudha wrote:
| Also unrelated, for some reason your comment reminds me of
| Oscar Wilde quote _I am so clever that sometimes I don 't
| understand a single word of what I am saying._
| calciphus wrote:
| When someone versions the internet it is safe to disregard
| the other terms in the sentence.
| astoor wrote:
| In my day, Web 3.0 meant the Semantic Web:
| https://en.wikipedia.org/wiki/Semantic_Web#Web_3.0 .
| liveoneggs wrote:
| Internet2 will come alive any day now
|
| https://en.wikipedia.org/wiki/Internet2
| drummer wrote:
| Yes put everything in their cloud where the IRS criminals have
| full access. Satoshi as wel as the cypherpunks definitely
| approve.
| neither_color wrote:
| Some of the docs are coming up blank on mobile safari, what I
| want to know is if its possible to hack together a payment flow a
| la stripe with dummy data without creating a paid account first.
| westoque wrote:
| Isn't it ironic to use a REST API to send BTC vs say using what
| any cryptocurrency is intended for? To use their native APIs to
| transfer value. The aim of decentralization is to eliminate that
| third party but this puts it back. We've come full circle.
| _red wrote:
| The idea "everyone should be their own bank" is a great idea,
| and most should endeavor to do that, but it fails often for a
| variety of legal and regulatory reasons.
|
| Suppose you are a company, with a myriad of shareholders, do
| you: (a) Setup a crypto wallet and give Frank and Bill the
| keys, or (b) Outsource to reputable 3rd party.
|
| I can tell you which your shareholders would prefer.
| davedx wrote:
| I don't this is ironic. I think this is a pretty cynical
| attempt at wrapping the "Coinbase platform" around more layers
| of crypto than they already had.
|
| Embrace, extend...
| base698 wrote:
| Haven't used it directly in forever but bitcoind had a rest API
| early on.
| ed25519FUUU wrote:
| The Bitcoin network supports a theoretical maximum of 7
| transactions per second, so they're probably eager to do it
| some other way.
| reedjosh wrote:
| Lightning though... Amiright!?
|
| I'm setting up a node as soon as my ssd arrives.
| tedunangst wrote:
| Is "as soon as my ssd arrives" the new "the check is in the
| mail"?
| reedjosh wrote:
| Ha, no I really do have one coming.
| hestefisk wrote:
| You are setting up a Lightning node? For?
| reedjosh wrote:
| > You are setting up a Lightning node?
|
| Yes.
|
| > For?
|
| To learn, and for myself and friends to use. Vague
| question.
|
| I want the Lightning network to be the BTC solution to
| transaction throughput and privacy, but I don't know that
| it is. Figure best way to find out is to get my hands
| dirty.
| polyomino wrote:
| Coinbase has been the slowest to adopt new bitcoin features
| since they realized their business model is actually an
| altcoin casino.
| davuinci wrote:
| A better wording would be that the aim of decentralization is
| the _option_ to eliminate the third party. If someone wants to
| use a third party to transact then he should have the freedom
| to do so. Similarly, if someone wants to transact with another
| party directly then this should also be allowed.
| notyourwork wrote:
| Middlemen have to middle, that's the model of a middleman. As
| long as they provide some perceived value over the same without
| middlemen they will be profitable. In this case, coinbase
| abstracts crypto away from technically illiterate who want to
| ride the crypto wave without learning the technicals.
| jefflombardjr wrote:
| Doesn't this further centralize something that's supposed to be
| decentralized?
| sergiotapia wrote:
| See also: https://www.quicknode.com/
| latchkey wrote:
| When twitter was younger, people would implement against their
| api and eventually get shut down.
|
| I can't imagine having a dependency on a coinbase api.
| [deleted]
| x3sphere wrote:
| This seems more of a product to keep their investors happy than
| it does actually improving the crypto ecosystem. Feels like you
| lose the decentralization benefits of crypto when you are doing
| everything over a centralized service. I don't know how much
| Coinbase have abstracted things, but there's probably a fair
| amount of lock-in here too.
| bob229 wrote:
| Crypto is trash
| rikkipitt wrote:
| I'm interested in the Coinbase Commerce as an option for my SaaS,
| sadly they don't seem to support recurring payments out of the
| box. Does anyone know if they might be offering this
| functionality in the future?
| H8crilA wrote:
| Why isn't this just called Coinbase API? What am I missing?
| eganist wrote:
| its closer to a PaaS offering than just a bundle of APIs, which
| gives it some basis to claim the Cloud marketing moniker.
|
| Notably, https://bisontrails.co/participate/ (this is linked
| from the above and is owned by Coinbase as a subsidiary)
| anonymoushn wrote:
| If my fund uses a thing for order entry, deposits, and
| withdrawals, but not for hosting (and indeed hosting for
| trading servers is not even for sale?), normally we would
| call that thing an API.
|
| I guess the "hosted validators" thing is reasonable to call
| Coinbase Cloud though.
| H8crilA wrote:
| Uh, ok, the front/linked page confused me. Thanks.
| Kranar wrote:
| Coinbase API is something else [1] and would be utterly
| confusing to use that name for this:
|
| [1] https://developers.coinbase.com/api/v2
| [deleted]
| [deleted]
| [deleted]
| earthwallet wrote:
| Awesome, we're looking for a multi-chain version of infura at
| earthwallet.io! Sounds like exactly what we need on the Coinbase
| Cloud page, but it's a bit tricky to find the docs for this type
| of application. Definitely a great idea though, hopefully we can
| make it happen!
| dschlossman wrote:
| Cool, didnt realize coinbase acquired bison trails
| arthur_sav wrote:
| Seems they forgot to write the documentation lol
| https://docs.cloud.coinbase.com/exchange/reference/market-fe...
| barmstrong wrote:
| Coinbase CEO here. Thx for mentioning it, we'll get that fixed.
|
| This is an early release from us and I would expect there to be
| a few quirks. Please keep sharing any feedback.
| mensetmanusman wrote:
| Thoughts on https://news.ycombinator.com/item?id=28588896 ?
|
| Non-techie Family member got scammed with this last month and
| lost $4k ETH while using coinbase. Thought I would let you
| know since it seems very common at the moment, might be worth
| having an alert to users not to send ETH to anyone who says
| they will 2x their coins. Cheers,
| idiotsecant wrote:
| I'm not sure it's coinbase's responsibility to tell users
| not to run with scissors. Anyone who thinks sending money
| to random links they see on the internet that are promising
| to send them more money back for free probably shouldn't be
| entrusted with managing money.
| permalac wrote:
| Complete agreement with this comment.
|
| What should a founder do? Focus on their product, the
| better they become more scamers will attract, but is for
| the user to use some basic logic.
|
| Otherwise, should they tell people that there is no such
| thing as Nigerian Prince? Because Nigeria is a Republic
| but some people don't even check the basics, they tend to
| just refuse their responsibility.
| sjtindell wrote:
| This post doesn't seem at all appropriate to me. Those
| scams are the most bottom of the barrel, low effort, have
| existed forever, and have nothing to do with Coinbase at
| all. I worry that pinging founders direct with this
| nonsense will keep them out of one of the few forums where
| I ever get to see them contribute.
| mensetmanusman wrote:
| Depends. Most CEOs I interact with are anti-fragile. The
| legitimacy of crypto has a lot to do with CB, so it is in
| everyone's best interest to fight scammers being front
| page promoted by YouTube:)
| notyourwork wrote:
| Documentation was linked to here from main page:
| https://docs.cloud.coinbase.com/
|
| Not sure where you found that other link but sort of
| embarrassing to have that publicly exposed.
| arthur_sav wrote:
| I just searched for 'commerce' in the main documentation and
| voila
| ionwake wrote:
| No one else find it super weird there is an announcement the same
| day coinbase got hacked?
| z0xz0xz0x wrote:
| fact check: coinbase did not get hacked
| brokensegue wrote:
| A bug in Coinbase software allowed hackers to steal Coinbase
| users' money and private information. What else would you
| call this?
| knownjorbist wrote:
| If you look more specifically into what happened, you might
| have your answer.
| simonebrunozzi wrote:
| So much for decentralization.
| d0gbread wrote:
| This service doesn't prohibit decentralized services from
| existing and evolving? Cue why not both gif.
| asjfj9 wrote:
| Can someone ELI5 how this is any different to what the current
| Coinbase API offers? https://developers.coinbase.com/api/v2
|
| Reading through the entire Coinbase Cloud page and even going
| into the Coinbase Cloud Exchange docs
| (https://docs.cloud.coinbase.com/exchange/docs) doesn't make it
| clear what this offers over Coinbase's current API.
| nerdwaller wrote:
| The difference of those two docs is one is coinbase.com, their
| more retail oriented option (picture robinhood), and
| pro.coinbase.com which is a more advanced trading platform
| (think or swim or other more mature investor platforms). The
| fee structures are different, order types, visualizations, etc
| (even though they likely use the same infrastructure for both)
| and they segregate a user's accounts between the two (though
| you can freely transfer between the two). Another major
| difference is on the retail platform you're not going to see an
| orderbook - just a price. All that to say, I think the main
| difference is access to more information about the overall
| market, more advanced orders, better pair selection (that
| usually eventually ends up on the retail platform), and the
| more mature financial platform.
|
| These new docs replace the previous pro/prime API docs and
| extend it into new products.
| adventured wrote:
| The cloud product/label is where they intend to build out a
| suite of service offerings. API wasn't broad enough to
| encompass what they intend to do next.
| ssss11 wrote:
| Given their lack of competence resolving basic user account
| issues, it would be a hard no from me
| NGRhodes wrote:
| Agreed, I was locked out of access to my funds for months, not
| one human response until my complaint escalated to the
| Financial Ombudsman (UK), got compensation, then tried to
| delete my account after withdrawing all my money, raised a
| support ticket, then last week my account was closed with the
| following message:
|
| "Upon careful review, we believe your account has engaged in
| prohibited use in violation of our Terms of Service and we
| regret to inform you that we can no longer provide you with
| access to our service."
| ssss11 wrote:
| Oh wow that's bad.
|
| Mine was their screwed up identification process - I had
| completed it but their app wouldn't let me view their tiny
| videos for the rewards. I was stuck in a support loop for
| months of "you need to identify yourself", "I have", "oh yeah
| you have, try the videos again" - repeat
| arthur_sav wrote:
| That's not just Coinbase. It's every neobank type app or
| service.
|
| The problem is that they can't handle the large volume of
| users while also dealing with fraud & law compliance. So they
| basically have fraud detection algos that flag anything
| remotely suspicious with many false positives and they don't
| have the support staff to deal with the aftermath.
| sanderjd wrote:
| It's almost like there's a good reason society invented
| bank regulation.
| starclerk wrote:
| I was locked out of my account for 3.5 years before they
| worked through the queue far enough to get to me. I stopped
| using Coinbase long before then though.
| notyourwork wrote:
| Sounds like the Robinhood model. Collect as much finances as
| you can and do as little as possible to support those
| providing the funds while sucking up to investors.
| ohashi wrote:
| 99% uptime guarantee is embarrassingly low.
| root-z wrote:
| considering my experience with their product, it's probably the
| best they could do in a realistic timeframe.
| TheDudeMan wrote:
| They were probably faced with decision: Release now and improve
| over time, or don't release now. We don't live in the time of
| option B. Option B is the path of ruin.
| ohashi wrote:
| That's the attitude you want from a financial service, YOLO
| BUILD FAST AND BREAK THINGS.
|
| We absolutely live in a time where you can engineer things
| well, especially at the scale of a publicly traded company.
| They aren't some scrappy startup desperately trying to get
| their first users.
| true_religion wrote:
| They're trying to be like banks. Mine closes at 5pm sharp
| and all transactions stop because you can't do fraud checks
| in developing countries when "fraud check" means literally
| sending someone physically to the point of sale to make
| sure it really exists.
| [deleted]
| judge2020 wrote:
| That's nearly 4 days out of service a year with no recourse.
| This should be unacceptable for any financial service.
| knownjorbist wrote:
| 4 whole days! They'll never recover from this, right?
| urda wrote:
| I would be not long for this world if a service I helped
| maintain was down for four days.
| knownjorbist wrote:
| If so, that is a frightening indictment of the world we
| live in and not you as a person.
| exdsq wrote:
| It is shockingly bad
| knownjorbist wrote:
| Only to those firmly within the HN bubble.
| exdsq wrote:
| This is specific to the domain of cryptocurrencies and
| blockchains where you are dealing with decentralized
| networks that slash funds if you are offline for a period
| of time. It's a different ball game to endpoints you can
| let fall over and restart from time to time.
| tluyben2 wrote:
| Yep, there are enough services that drop into maintenance
| mode multiple time a week. Although outside local
| business hours, one of my banks is in maintenance mode
| every night (not sure if they do backups or if it's just
| down and has maintenance mode as 500 screen or what is
| going on) and the api (psd2 ) does not work then either.
| Well over 4 days a year I would say and literally no one
| cares: people are sleeping. So sure it depends on the
| service but 99% or less does not matter if no one is
| using it anyway. That said; it is quite bad in this day
| and age and I really wonder what it is they are
| 'maintaining'.
| Andys wrote:
| _Should_ be, yeah. Australian banks are this bad and worse.
| shp0ngle wrote:
| Cryptocurrencies are horrible as currencies because it's hard and
| expensive to pay with them.
|
| Make of that what you will.
| latchkey wrote:
| "In my opinion..."
| 0xdeadb00f wrote:
| I still can't go down to my grocery store, or pretty much any
| outlet in the city, and pay with crypto.
|
| Until that is the case, I think it's very fair to say, that
| crypto currency is hard to pay with.
| latchkey wrote:
| Does that make them horrible?
| kevinak wrote:
| You know who can? Anyone in El Salvador.
| JumpCrisscross wrote:
| > _You know who can? Anyone in El Salvador._
|
| With an internet-connected smartphone with the app
| installed and whose neighbourhood stores are following
| the law. Which isn't _that_ many people.
| latchkey wrote:
| https://www.yahoo.com/now/over-two-million-citizens-
| now-1438...
|
| Even if we call his numbers inflated and cut his number
| in half, it is still 1m people.
| shp0ngle wrote:
| hahahaha
| 0xdeadb00f wrote:
| Okay I guess?
| lugged wrote:
| Nothing I like more than a cookie accept button covering half the
| screen that doesn't work when you click it.
| weddpros wrote:
| I always thank Europe for this, makes me feel so safe. I don't
| risk anything when I can't even accept the cookie.
| neither_color wrote:
| The "i dont care about cookies" extension is really good on
| desktop https://www.i-dont-care-about-cookies.eu/
| [deleted]
| exdsq wrote:
| There goes my side project
| sillysaurusx wrote:
| I raised $2,200 in donations thanks to Coinbase making it easy
| for people to donate crypto. It sounds like they want to do the
| same for every aspect of a business. There's probably a lot of
| value in that.
| Fnoord wrote:
| How much energy was wasted this way? Why would PayPal, IBAN, or
| Flattr not have worked?
| dustymcp wrote:
| because they dont receive crypto..
| collegeburner wrote:
| I use crypto because the financial system does not allow me
| to make a transaction anonymously unless I use cash, that I
| can't use on the internet. Make the government remove its
| retarded KYC and anti money laundering laws that create state
| mandated invasion of privacy and I will stop. Crypto exists
| only because there is a demand not met by "real money". The
| answer is not to ban crypto but to make "real money"
| competitive again.
| coralreef wrote:
| If it was a custodial service, then the amount of "energy
| wasted" was basically equal to any of the above.
| wallacoloo wrote:
| The majority of cryptocurrency mining is paid for by fixed
| inflationary rewards, not transaction fees. That means that
| the power used by mining isn't directly dependent on the
| number of transactions being processed. When you hear "each
| Bitcoin transaction burns x MJ", that's a simplification.
|
| Custodial cryptocurrency services therefore don't consume
| meaningfully more or less power than non-custodial
| services. They both rely on the underlying protocol
| remaining functional, which is where the bulk of power
| consumption occurs.
| paulpauper wrote:
| future headline: Coinbase Cloud Breach Notification
| arthurcolle wrote:
| The audacity of announcing a cloud on the same day a major breach
| is made public lmao
| knownjorbist wrote:
| Don't we already know it wasn't actually a breach?
| arthurcolle wrote:
| If all your customers get sim swapped because you offered 2FA
| over SMS then it's your fault as a service provider.
| brendoelfrendo wrote:
| Couldn't we shift the fault back a step? If it's so easy to
| SIM swap people, shouldn't the telecoms be liable for
| damages to their customers in the event of a SIM swap?
| mercora wrote:
| i am not entirely sure i fully agree. telecoms never sold
| us a service to authenticate us to 3rd parties. those 3rd
| parties did bolt it on-top of an arguably insecure
| message transmission system. it wasn't meant to be used
| like this and maybe its even a bad idea to use it like
| that. the assumption only you yourself could receive
| these codes because you are authenticated against your
| mobile network provider might just be wrong here.
|
| of course, letting the actual sim swapping attack work is
| an issue they should be required to solve. but for
| entirely different reasons. once you are authenticated to
| their network you can cause substantial costs for the
| real owner of the contract for example and those costs
| would definitely be compensated to their clients if this
| happens without their involvement. but if your
| assumptions break because of this issue your assumptions
| are wrong in my opinion and you would be the one to
| blame.
|
| a simple analogy here could be you park your car in front
| of a police station, because nobody would dare to steal
| your car right in front of the police right? but then
| your car still gets stolen and you think you should try
| to sue the police because that just happened.
|
| on the other hand coinbase did made that assumption and
| has been proven wrong in this way. they did bet on using
| the telcos messaging systems being secure enough to be
| used for authentication. that did not work out and this
| caused people to lose money which should be compensated
| for, by coinbase, because they decided to do that and not
| the telecoms.
| arthurcolle wrote:
| I agree - you are right, we absolutely should. But if
| customers are using Coinbase, and people sue and get
| successfully judgments against Coinbase for using
| insecure authentication media, then maybe Coinbase can go
| ahead and initiate lawsuits against the telecoms if they
| are feeling the heat.
|
| Consumer complaints against ISPs/telecoms have been
| notoriously slow, unresolved with no real improvements -
| even before the creature Ajit Pai crawled out from under
| his rock, shockingly enough.
| JohnJamesRambo wrote:
| If that is the net you are casting that is going to be a
| very wide net.
|
| SMS 2fa isn't great but there are lots of places that use
| it.
| arthurcolle wrote:
| They should all be liable for damages if anything bad
| happens as a result of account misappropriation IMO
| Consultant32452 wrote:
| Coinbase is making all the affected customers whole. What
| more liability do you want?
| arthurcolle wrote:
| A fine that is substantial enough to make them deprecate
| 2FA for SMS
| Consultant32452 wrote:
| Why do you care if Coinbase gets robbed?
| arthurcolle wrote:
| Because people and organizations should be held
| accountable for their actions and weak security can
| directly impact people's lives
| z0xz0xz0x wrote:
| "all" customers? Or do you mean 6,000 out of 60m +?
| arthurcolle wrote:
| Either works for the example. You should be liable for
| offering something that is easily exploited that affects
| your customers.
| [deleted]
| renewiltord wrote:
| Then don't use it haha. There's always so many HN users talking
| up these so-called breaches and acting like they matter when
| they probably have a grand total combined spend authority of
| $100 for snacks at the weekly happy hour.
| arthurcolle wrote:
| I was a pre-sale investor in Ethereum, have been in Bitcoin
| since it was < $2 per BTC. Your casual dismissal of my
| statement indicates you have no idea what you are talking
| about - no one is going to seriously use this. Just like no
| one serious keeps their balances on Coinbase Pro/Prime. They
| are a fine trading desk if you face them OTC, but to think
| they are going to become a state of the art "crypto cloud
| provider" is hilarious.
|
| Next up, Coinbase NFT verification services (Sotheby's of the
| future!). My sides are sore.
| kleinsch wrote:
| You bought some crypto currencies early, congrats. None of
| those statements demonstrate purchasing power for a cloud
| product...
| arthurcolle wrote:
| > None of those statements demonstrate purchasing power
| for a cloud product...
|
| What does this even mean? Are you trying to say I don't
| have enough money for the offering? Maybe so :)
|
| I am indicting Coinbase for what they are - their lack of
| support, lack of useful options even for well-moneyed
| players in the market, lack of useful crypto products.
| Their API is fine, but that is standard.
|
| And now they want to be the new Infura/Alchemy? I mean,
| why? They already don't provide a great product. My Uber
| driver yesterday was asking me if they should buy
| Avalanche after I casually mentioned crypto. Yeah,
| democratizing finance for sure.
|
| Use it if you want, you seem axed on the product. Hope it
| works out for you!
| exdsq wrote:
| To be fair an early investor in Bitcoin and Ethereum from
| pre-2015 could have the same 'spending power' as a
| successful IPO founder, which isn't trivial!
| [deleted]
| emXdem wrote:
| Name a traditional bank in the US that offers FIDO U2F for
| MFA... I'll wait... I've been looking for one for a while.
| crazypython wrote:
| This imposes a centralization externality on blockchains. Putting
| a validator node in Coinbase Cloud makes that blockchain more
| centralized by giving Coinbase control over a large number of
| validator nodes.
| teruakohatu wrote:
| Didn't Microsoft Azure's blockchain platform fail? It was
| shutdown earlier this month [1]. How is this different and/or
| better?
|
| [1] https://www.siliconrepublic.com/enterprise/microsoft-
| azure-b...
| mbesto wrote:
| Isn't Coinbase Cloud vastly different? Azure was for building
| any application blockchain technology (could be crypto, smart
| contracts, supply chain, blah blah) whereas CB Cloud is for
| building applications on top of Coinbase's crypto exchange.
| knownjorbist wrote:
| This appears to be only managed blockchain infrastructure, not
| all of the other concerns that emerge when actually building an
| application on top of such a thing.
| programmarchy wrote:
| I think Microsoft and others like IBM failed to "get it". They
| tried to adopt blockchain tech without the cryptocurrency
| aspect, failing to realize there needs to be a built-in
| incentive structure for people to participate on any blockchain
| network. Mining, staking, and other proof / reward systems are
| required for any blockchain tech to get off the ground.
| toomuchtodo wrote:
| IBM and Microsoft cater to enterprises. Enterprises whose
| entrenched positions are challenged by decentralized systems.
| Centralizing a decentralized system is done either to
| bootstrap it (optimistic) or embrace, extend, and extinguish
| it (pessimistic). A corporation alone might not need a
| blockchain, but has no choice but to participate if that's
| where the market is, and a consensus of participants (no pun
| intended) is who determines that technology (not corporate
| procurement).
|
| https://en.wikipedia.org/wiki/Embrace,_extend,_and_extinguis.
| ..
| lottin wrote:
| Can you please give a single example of an enterprise that
| is being challenged by a decentralised system?
| PKop wrote:
| I would say commercial banks are on their way to being
| challenged by DeFi and stablecoins on Ethereum. But it is
| debatable how decentralized this system in its entirety
| is given the biggest entities are centralized custodian
| coins. But still.. massive disparities in yields and
| flexibility of moving value around at will does have
| enough disruptive force that banks and the Federal
| reserve are racing to both regulate stablecoins and push
| "CeFi" instiutions into registering as banks themselves,
| while on the other end legacy finance is moving towards
| adopting some of these systems themselves.
| toomuchtodo wrote:
| Clearing and settlement of securities. https://paxos.com
| [deleted]
| [deleted]
| PKop wrote:
| Agree, and this quote from the OP's link is humorous in that
| regard:
|
| "While blockchain is best known for its association with
| cryptocurrencies, _it has applications beyond this field._ "
|
| This sentiment is just thrown around without evidence. Either
| a blockchain has an internal reward mechanism to account for
| the increased costs associated with it's execution or it is
| simply a more complicated and expensive database looking for
| a problem to solve...and also is likely not decentralized.
| dogman144 wrote:
| Good evidence is git, which is a blockchain (linked list of
| hashes).
| jcliff wrote:
| without a way to resolve the canonical version without
| trusting a singular maintainer, git is not a blockchain.
| blockchains enforce consensus in a decentralized way, at
| least public blockchains do or should.
| verdverm wrote:
| Hyperledger Fabric uses Proof of Authority and is still being
| used for projects. Being antithetical to the crypto crowd it
| doesn't get the same fanfare. The target user base is very
| different.
|
| I personally would reach for this tech stack before the
| permissionless variety, I just don't have anything that needs
| blockchain.
| sanderjd wrote:
| What are some projects it is used for?
| verdverm wrote:
| Primarily supply chain.
|
| https://www.hyperledger.org/learn/case-studies
|
| Understand connecting IRL to BCL (blockchain ledger) is
| where provenance breaks down. Just because a blockchain
| says something, does not mean it is true. Just that the
| data onchain hasn't changed.
___________________________________________________________________
(page generated 2021-10-02 23:02 UTC)