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Offline matt608

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Interview with Preston Byrne from Eris Industries
« on: December 22, 2014, 08:36:52 PM »

Preston Byrne is a BitShares critic.  This interview is slightly technical and is about his crypto startup Eris Industries. I thought it might interest devs.  Its long but dense with content.
https://www.youtube.com/watch?v=H9fqLOkMucI&feature=youtu.be

One thing he says: "The software is free, the services are not".

BitShares UIAs will cost a fee to issue.  What if issuance was free but customisation services cost money?  A delegate could be like a UIA consultant/designer.

Any other thoughts on this vid?  It sounds potentially like a big deal.

Offline santaclause102

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Re: Interview with Preston Byrne from Eris Industries
« Reply #1 on: December 22, 2014, 11:20:58 PM »
The video over complicated things a bit I think.

The doc. on the website is much better:

https://thelonious.io/
Quote
Thelonious’ Design Philosophy
Thelonious is the blockchain client purpose built to manage a multitude of chains, each with their own consensus and security mechanisms. It is the first blockchain design we are aware of that is not only smart contract-enabled, but also smart contract-controlled.

Not only are Thelonious blockchains smart contract controlled, they are also purpose built to be flexibly deployed in more limited context than is currently possible with most blockchain designs which rely on pure proof of work that can be attacked with sufficient processing power.

I ask myself though: Who secures the blockchains? If there are no tokens and no mining how can a blockchain be secured at all?  If a blockchain is controlled 100% by the operator of the app then is verifiability/accountability really guaranteed?


Offline toast

Re: Interview with Preston Byrne from Eris Industries
« Reply #2 on: December 22, 2014, 11:38:08 PM »
The video over complicated things a bit I think.

The doc. on the website is much better:

https://thelonious.io/
Quote
Thelonious’ Design Philosophy
Thelonious is the blockchain client purpose built to manage a multitude of chains, each with their own consensus and security mechanisms. It is the first blockchain design we are aware of that is not only smart contract-enabled, but also smart contract-controlled.

Not only are Thelonious blockchains smart contract controlled, they are also purpose built to be flexibly deployed in more limited context than is currently possible with most blockchain designs which rely on pure proof of work that can be attacked with sufficient processing power.

I ask myself though: Who secures the blockchains? If there are no tokens and no mining how can a blockchain be secured at all?  If a blockchain is controlled 100% by the operator of the app then is verifiability/accountability really guaranteed?

Thelonious is an actual DAC toolkit - it lets you easily write the "DAC" layer ("admin" / "kernel" mode) so you can build whatever consensus mechanism you want.

I think Eris is actually pretty great. One day it might make sense to port BTS to their blockchain language if it becomes ubiquitous. Too bad Patrick was so critical of BTS before.
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Offline santaclause102

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Re: Interview with Preston Byrne from Eris Industries
« Reply #3 on: December 22, 2014, 11:59:24 PM »
One day it might make sense to port BTS to their blockchain language if it becomes ubiquitous. Too bad Patrick was so critical of BTS before.
So from C++ to their language? Who is Patrick? You mean Preston (Byrne)? I think he was critical of BitAssets without price feed (in the initial phase). With the price feed and the 30 day maturity it changed quite a bit...
« Last Edit: December 23, 2014, 12:04:04 AM by delulo »

Offline toast

Re: Interview with Preston Byrne from Eris Industries
« Reply #4 on: December 23, 2014, 12:49:32 AM »
So from C++ to their language?

Sort of, we get 90% of the way there in terms of interop just by writing a decerver plugin: https://github.com/eris-ltd/decerver-interfaces.
Putting the current business logic exactly as is onto a thelonius chain is just an option if the infrastructure becomes so mature it outpaces us and it becomes easier to maintain/develop by using their tools. BTS would be preserved exactly and the end user wouldn't need to notice.

You mean Preston (Byrne)? I think he was critical of BitAssets without price feed (in the initial phase). With the price feed and the 30 day maturity it changed quite a bit...

Yes, that's why I said too bad. I also am not sure we really got a full argument out of him. I think part of his original criticism implies he thinks BTS is too dangerous or impossible to use collateral at all / nobody would buy BTS except to do a "nonsense" trade with themselves. But practically all price-tracking proposals rely on a crypto-token being able to back other assets, and AFAIK all discussions deal with how to minimize risk for the person holding the stable token (so far we have bitassets, off-chain nushares/nubits, truthcoin PMs whose shares can be redeemed for $ value, vitalik's schellingcoin and recent bitasset-like proposals).
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Offline donkeypong

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Re: Interview with Preston Byrne from Eris Industries
« Reply #5 on: December 23, 2014, 01:18:31 AM »
That guy's an idiot.

 

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