Quote from: amishmanish on Today at 05:08:27 AM

Quote from: jabbathe69 on April 02, 2021, 08:55:16 PM

I’m not going to describe Bitcoin’s issue of scalability, because you guys probably know it. What I’m going to do instead is ask your opinion about a new cryptocurrency. Yes I’m a holder of this coin, so my opinion is very biased. This is a token. The token’s name is AVA. https://coinmarketcap.com/currencies/travala/

Is this a shill masked as a genuine question?

BEP20 token on the Binance Smart chain have low fees and fast transaction because of the centralized architecture. The settlements are basically just what a centralized database would do but in the form of a blockchain data structure.

There is no point in calling such a topic SOLUTION to bitcoin because then there are almost 4000 SOLUTIONS (and growing) that get touted on CMC and others. Most of these "tokens" are really just applications whose success depends on the quality of developers and the pace of development. There is no point in talking about decentralization in those cases. Many of these projects end up swallowing your money while it'll seem completely innocent to you as a buyer. There is inherent risk in these and identifying the short term devs from the actual product is the challenge which will get you money.

I’m no shill. I’m just genuinely curious about this project. Imagine a scenario where you lost your private key. In PoW consensus, there’s absolutely nothing you could do. In PoS consensus, there’s absolutely nothing you could do. In PoSA, validators can theoretically help right? If you could prove to one of the centralized validators that you were the owner of the private key by giving undeniable evidence that you were the owner of that private key. They can omit the transaction from the network and ask the sender to send the transaction again to a new address. But then you need to rely on the validators and the sender. Seems like a better consensus system than PoW and PoS.