Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XC][OFFICIAL] >> Mandatory Wallet Update (01/06) - X11/PoS/Anon
by
adhitthana
on 05/06/2014, 00:06:43 UTC


Any such 'dynamic trust system' seems vulnerable to the iterated prisoners dilemma by design. The goal of any blockchain based currency is fully trustless transactions. That's the entire killer app of bitcoin and bitcoin like systems. 'Dynamic trust models' represent a clear problem that has been *long* known about in the literature.

Would you be able to explain the problem in plain english, or give a"dumbed down" version for people like me.
thanks  Smiley