[HN Gopher] Diem - Facebook open source Cryptocurrency written i...
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Diem - Facebook open source Cryptocurrency written in Rust
Author : modinfo
Score : 83 points
Date : 2022-10-27 14:25 UTC (8 hours ago)
(HTM) web link (github.com)
(TXT) w3m dump (github.com)
| lakomen wrote:
| Great, more crap to waste energy on so the planet and thus
| humanity dies faster
| AlmostAnyone wrote:
| yellow_lead wrote:
| > Note to readers: On December 1, 2020, the Libra Association was
| renamed to Diem Association. This report was published before the
| Association released White Paper v2.0 in April 2020, which
| included a number of key updates to the Libra payment system.
| Outdated links have been removed, but otherwise, this report has
| not been modified to incorporate the updates and should be read
| in that context. Features of the project as implemented may
| differ based on regulatory approvals or other considerations, and
| may evolve over time.
|
| https://developers.diem.com/docs/technical-papers/the-diem-b...
| [deleted]
| latchkey wrote:
| I wonder how much Silvergate paid for it...
|
| https://www.diem.com/en-us/updates/stuart-levey-statement-di...
|
| They still plan to launch a stablecoin in 2022...
|
| https://www.silvergate.com/solutions/digital-currency/diem.h...
| derefr wrote:
| I would suggest the mods change the title here to something that
| communicates that this project hasn't been associated with
| Facebook in years (maybe "ex-Facebook"?); and also that this
| isn't something that just came into existence, but rather has
| existed for years. As it is, this is drawing comments mostly from
| people assuming that this is something just happening now,
| leading to very non-productive conversation.
| anonym29 wrote:
| Oh yeah, let's trust Facebook with a monetary system. They have
| such a great track record of respecting our trust. /s
| laweijfmvo wrote:
| Thought experiment: if you're in a situation like Zimbabwe
| ~2010, or Argentina recently, who do you trust more with your
| currency? Facebook, or your own government?
|
| Relatedly, with ~3B users, this is why I think the regulators
| shut this down before it started.
| meowtastic wrote:
| I think it's only a matter of time till this becomes a
| reality. And I'm saying this as a crypto sceptic, and someone
| who's never invested in any.
| lawn wrote:
| An actual cryptocurrency that's not controlled by Facebook of
| course.
| laweijfmvo wrote:
| oh like Celsius?
| anonym29 wrote:
| No, like Bitcoin.
| tossl568 wrote:
| You're going to have a hard time on here... money MUST be
| controlled by the government is the general belief.
| anonym29 wrote:
| Yeah, otherwise it would be impossible to print on-demand
| to fund hostile, militarized occuptations of other
| countries OR punish people for saving rather than
| spending by diluting the value of existing units of the
| currency. What a horrible world we'd live in without
| granting governments such abilities. /s
| [deleted]
| julianeon wrote:
| By this logic, we trust them with React, which at the end of
| the day is much more impactful.
| wmf wrote:
| That's why it was canceled.
| secondcoming wrote:
| I'd rather trust FB engineers with a monetary system rather
| than some randomers off the internet.
|
| Besides, it's written in Rust! It's flawless by design.
| krautsourced wrote:
| And blazingly fast. Don't forget how blazingly fast it is.
| anonym29 wrote:
| This is a joke, right?
| _wolfie_ wrote:
| Which part? :)
| anonym29 wrote:
| The last part, especially.
| yodsanklai wrote:
| Believe it or not, Meta is highly regulated. A lot of their
| engineers work on privacy issues.
| ethanbond wrote:
| And all the others also work on privacy issues!
| giantdude wrote:
| That is really funny!
| anm89 wrote:
| Lol, remember that time like a year ago when Facebook had
| redefined their company to chase some other thing of the moment
| that has nothing to do with the new thing they have totally
| redefined their company to chase.
|
| Definition of flail
| threeseed wrote:
| a) VR is completely aligned with the mission of the company
| which is to connect people together.
|
| b) Meta has always been chasing their competition. It's why
| they have overhauled their feed algorithm multiple times,
| acquired Instagram and WhatsApp, implemented Stories etc.
|
| c) They are hardly flailing around. Apple has shown them how
| sensitive and vulnerable their business is to privacy changes.
| And that if they can own the whole stack and be the Apple of
| potentially the next computing paradigm then that is a goal
| worth betting the company on.
| anm89 wrote:
| > the mission of the company which is to connect people
| together.
|
| I guarantee you Zuck doesn't wake up every morning and say
| "how can I connect people just a little bit better today". He
| was just able to say this because the world threw money at
| him for 15 years so he didn't have to worry about that part.
|
| Facebooks mission is to make money. Crypto didn't help them
| with their mission. Recreating miis with a vr headset is
| doing the exact opposite of that mission.
|
| Time will tell. Maybe he will look like a genius in 5 years.
| I've got skin in the game betting against that
| ajsnigrutin wrote:
| Oh man.. the ultimate HN post
|
| Facebook .. a large company eveyone knows
|
| open source
|
| crypto(currency)
|
| using the "language of the month"
|
| and a github link!
| pvg wrote:
| _Please don 't sneer, including at the rest of the community.
| [...]
|
| Eschew flamebait. Avoid generic tangents. Omit internet
| tropes._
|
| https://news.ycombinator.com/newsguidelines.html
| cies wrote:
| I thought this was funny and on point. How is this a sneer to
| you?
| pvg wrote:
| Beside the guidelines, there's years of moderator
| explanations on this sort of thing, it comes up more or
| less weekly. Recently:
|
| https://news.ycombinator.com/item?id=33318559
|
| https://news.ycombinator.com/item?id=33295889
| dekervin wrote:
| I have a tagging tool for HN and the more used tags are: big-
| tech, oss, cryptocurrency, dev-language... The only missing
| tags are "climate" and "entrepreneur".
|
| Edit: the perfect headline would be "How Facebook acquired my
| climate friendly cryptocurrency startup, rewrote it in rust and
| open sourced it".
| meowtastic wrote:
| Mind showing/sharing it? I was thinking of doing some
| historical analysis on trending topics on HN.
| hardwaregeek wrote:
| Rust has been the language of the month for a few years now
| dymk wrote:
| Over a decade, I'd say?
| rob74 wrote:
| Sure feels like it...
| runevault wrote:
| Eh wasn't that big pre 1.0 and that was 2015. I feel like
| it was 2017 or 2018 before it was on my radar so much I
| needed to assess it for myself.
| mirekrusin wrote:
| I've heard it was favourite language of Ada Lovelace.
| worik wrote:
| Since about 1997....
| napo wrote:
| I wanted to invest but I don't see where it talks about VR, ML
| and microservices
| [deleted]
| dingosity wrote:
| So much hard pass: cryptocurrencies (hard pass), facebook (hard
| pass) and rust (great language, tool ecosystem and community, but
| needs to stabilize before it's used for critical infrastructure.)
| benatkin wrote:
| Couldn't be more wrong about rust. People are using WASM with
| Figma everyday and Rust is the most production ready for both
| WASM and non-WASM targets. Sure, Rust is the future, but it's
| also the present.
| throitallaway wrote:
| Rust support is also landing in the Linux kernel very soon
| (version 6.1.)
| tossl568 wrote:
| How do you see anything clearly from so far up on your high
| horse?
| Cantinflas wrote:
| Horses? Hard pass
| adwn wrote:
| > _rust (great language, tool ecosystem and community, but
| needs to stabilize before it 's used for critical
| infrastructure.)_
|
| There's hardly another mainstream language out there that's
| more stable than Rust: the standard library as well as the
| language itself follow a strict backward compatibility policy -
| breaking changes are only allowed to fix safety-relevant bugs.
| worik wrote:
| Rust is very cool. It is a language I have been waiting for
| since 1999
|
| But it is not ready for critical infrastructure for two
| reasons:
|
| 1) It is not defined. the definition of rust is "the compiler
| accepts it"
|
| 2) There is one implementation
|
| I use rust for a lot of things, things that I really want to
| be solid and reliable.
|
| But I would not want to use it for systems where lives were
| at risk.
|
| That is not a domain I work in, so I am hazy on what is
| available but I know the avionics people have systems and
| processes. Have they adopted Rust yet?
|
| Rust will be excellent in this space. But it needs definition
| and alternative implementations first. Probably will not be
| long.
| steveklabnik wrote:
| While I'm not sure about avionics, there's some aerospace
| and automotive uses in non-critical places. A version of
| the rust compiler is undergoing certification so that it
| can be, but that work is not yet complete.
|
| Also, there are multiple implementations, though they are
| in various stages of completion.
| stusmall wrote:
| > needs to stabilize before it's used for critical
| infrastructure
|
| What do you view as unstable? What features have you seen
| disappear? What do you know of that existed in the past
| post-1.0 that doesn't exist today or has materially changed?
|
| I've been writing rust since about 1.4 back in 2015. I think
| once in ~2017 I ran into an issue where a bump in the compiler
| cause an existing crate to not build. That's it. It was bug
| that was quickly fixed. As style changes and new crates and
| features are build, old ones are still very stable/reliable and
| can be intermingled inside the same program. I have trouble
| thinking of a more stable ecosystem I've worked in.
| glitchc wrote:
| Facebook has abandoned Diem. It is now an open-source project
| that's ripe to play around with. There are some neat, performant
| design choices in HotStuff, the underlying consensus protocol.
| dboreham wrote:
| See also this fork of the project:
| https://github.com/OLSF/libra
| c7DJTLrn wrote:
| It was considered hot with the radioactivity of Facebook from
| the moment it was born. Governments were pretty quick to say
| no, so no surprise it died.
| dontknowwhyihn wrote:
| I actually thought they were going to go ahead with it,
| lawmakers be dammed, in the spirit of Uber. Laws don't apply
| to big tech until they come into direct conflict with banking
| I guess.
| elforce002 wrote:
| They have to throw Facebook's name if they want traction. Devs
| and public alike have a really bad perception of Facebook. Tbh,
| Zuckerberg needs to resign, enjoy its billions and let someone
| else to start the PR "healing" process.
| NayamAmarshe wrote:
| PR healing won't be enough if Facebook continues its dystopian
| practices. What Facebook really needs is a deep ideological
| change along with new management.
| SQueeeeeL wrote:
| Facebook has obviously just been seeking to maximize profit
| for their shareholders as possible (maybe at the expense of
| some people, but no more so than any cigarette or oil
| company). Are you implying that ideology should be changed?
| worik wrote:
| > Facebook has obviously just been seeking to maximize
| profit for their shareholders as possible .... Are you
| implying that ideology should be changed?
|
| Not me.
|
| But they are a poster child for greed destroying a fabulous
| business. They were on the verge of connecting every single
| person on the planet, becoming the hub of everybodie's
| communications.
|
| And they threw it away for a bit of extra monetisation
| SQueeeeeL wrote:
| That's a contradiction. Either profit ideology is good or
| it isn't, but you're trying to say it's situational,
| uncaring markets don't work that way. Facebook/any
| private company goal should _never_ be anything
| egalitarian, and if it is, that 's arbitrage and will
| eventually be stripped away.
|
| Bob Iger (ex-CEO of Disney) is the king of this: "We have
| no obligation to make art. We have no obligation to make
| history. We have no obligation to make a statement. But
| to make money"
| 29athrowaway wrote:
| Libra was opposed by most governments. Diem is Libra.
| v3ss0n wrote:
| Facebook (META) + Cryptocurrency == Big Red Flag
| [deleted]
| lucasmullens wrote:
| Last commit was two months ago. Why are we talking about this? I
| don't think Facebook has anything to do with this anymore.
| [deleted]
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(page generated 2022-10-27 23:01 UTC)