/biz/ - Business & Finance

Scaling infinitely isn't the sole consideration; one must ponder over its many facets.

Is it truly the destiny of financial systems to rely on a blockchain-based central banking system (Proof of Stake) where no innovation can arise due to the inherent limitations mirroring those of its predecessors?

Are we meant to place our trust in EVM based Smart Contracts, despite their apparent vulnerabilities and repeated breaches? This risk is elevated due to the Turing-completeness of these contracts. The Pact architects, with their banking backgrounds and experience in financial software development, aimed for a more user-friendly, secure, and cost-effective alternative to Solidity. This is crucial given the complexities of smart contracts, where one isn't just building a dapp but deploying an entire business model, and Pact offers a simpler solution than Solidity in this context.

Is the financial future truly going to be controlled by a network of 40 or 200 nodes? Granted, one cannot expect a system capable of processing 500-1000 Transactions Per Second (TPS) to be free. Even a centralized system would require substantial resources. However, the Proof of Work (PoW) model at least offers anyone the opportunity to freely join the network, an aspect that can never be realized in a PoS model.
Can we really entrust our financial future to a Layer 2 system, which compromises the assurances, censorship resistance, and trustless nature of the original PoW design?
Is it fair to operate systems where Venture Capitalists control almost half of the total supply?

Layer-1 scaling in crypto presents an exceptional opportunity for growth in the sector, and to me, Kadena stands out as the most logical choice. Its solution is unsurpassed in elegance and robustness, offering the best that I have observed so far. Nothing else compares.