Tag Archives: Coin

Blog post by Dave Peck and the PSL team. Some issues they discuss: Very few categories of data belong on-chain … Today’s smart contract programming models are deeply flawed … Smart contracts can’t reference the “real-world”. They can only reference the blockchain itself. This is known as the “oracle problem” and it makes blockchains a necessarily closed system. This may sound like a trivial problem, but it is actually profound. For instance, it forces smart contract developers to jump...

On his blog, JP Koning discusses “dictionary money” and the ancient practice of simply redefining what “pound,” say, means. People have historically advertised prices for wares using a word, or unit of account, the LSD unit being the most prevalent. … from the Latin librae/solidi/denarii. The monarch was responsible for declaring what these words meant. … something to the effect that a pound, or £, was worth, say … silver coin[s]. This definition was subject to change. … Dictionary...