After using a ton of EVM chains and thinking about where it is all going I have to say that I came to the exact same conclusions. Decentralization will become important one day and no one is ready for it except Hive. I'm just glad I have someone else's thoughts on the same subject to compare them to. Great post!
Btw, do you see a future where Thorchain gets everything right, and then someone comes along, forks their code, and deploys a tokenless DEX where no one has access to the keys, code, or anything else? I really feel that this is the only reasonable way to create an unbiased DEX. No governance, no community, no token, just plain code that works and can't be penetrated.
Ofc we would need hard proof that the creator destroyed all access to the code itself but I'm sure that will be possible if/when the time comes.
Posted Using LeoFinance Beta
Tokens are used to secure the network. Node operators have more to loose if the network breaks due to their bonding requirements to run a node. Nodes are needed so that the network can have true decentralization, node operators have to be incentivized to run nodes because the platform has to be powered somehow and sign transactions.
It will be interesting to see how what you’ve described will be feasible
Why do you feel Thorchain is not unbiased?
Posted Using LeoFinance Beta
Yes, networks need to be secured by nodes and validators but exchanges don't. A simple token swap with a deposit/withdraw function that has theoretically unbreakable code does not need validators to exist, it needs a secure network to exist on.
I do not think Thorchain is unbiased, I think that every community and every project has a set of biases that are mostly positive but sometimes they can fuck things up.
Thorchain specifically has a bias towards a multichain world where atomic swaps are the standard and I love that idea but... The fact that a token exists implies that the token holders will always want to extract as much value as possible meaning that Thorchain will need to continue to grow and probably offer a lot more services than simple swaps.
For blockchains and communities like Hive this is a great thing but for something simple as a token swap this can lead to overcomplication of the product itself which may or may not impact the adoption of said product.
I'm not saying this is going to happen, just saying that is a possibility when greed starts driving innovation.
Maybe I'm overthinking it but the same thing happened to medical research and now we only develop cures that bring the most money in, not the ones that should be a moral priority.
Posted Using LeoFinance Beta
Your idea is very interesting and your reasons are valid, but the reality of it beats the internet of my mind especially given the capabilities of the present innovation.
You ser must be from some very distant future lol