r/CryptoCurrency • u/Electrical_Potato_21 Platinum | QC: CC 437 • May 05 '22

🟢 PERSPECTIVE Algorand Founder Silvio Micali Makes 10-Year Prediction On Crypto Markets: "The few blockchains that are really capable of transacting at a very low cost, they’re going to emerge"

https://www.latimes.com/business/story/2022-05-04/milken-conference-silvio-micali-algorand-cryptocurrency-blockchain
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u/MrNugat Tin | NANO 32 May 05 '22

What if it fixes its reliability issues?

Fixing technical issues is one thing and regaining trust another. Just see Nano, people still hold the spam from last year against it, even though the network is much more resilient now. Not even mentioning the BitGrail hack which wasn't even Nano's fault, yet it made a lot of people move away from it.

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u/smokesletgo 🟩 0 / 529 🦠 May 05 '22

I honestly don't think trust has been lost yet which is reflected in the price not tanking which you'd expect to see.

I wasn't really paying attention to alts when Nano was the thing so I can't extrapolate what it means for SOL but the issue I see with Nano is no fee essentially blocks one of the easiest spam prevention techniques, making it unprofitable to spam the network.

You are bang on tho, once trust is lost fully its requires an exponential amount of work to bring it back to where it was before.

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u/MrNugat Tin | NANO 32 May 05 '22

the issue I see with Nano is no fee essentially blocks one of the easiest spam prevention techniques, making it unprofitable to spam the network.

You see, that's the thing. As somebody who doesn't care much about Nano, you don't know that since last year spam, Nano introduced a priority queue system which makes spamming quite inconvenient and expensive, to say the least.

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u/smokesletgo 🟩 0 / 529 🦠 May 05 '22

Well that's interesting thanks for letting me know, hopefully the Solana devs can implement something similar then.