withdraw at the same time. Its like banks. Your savings are given as loans and a part of the interest that comes from those loans is given as interest to savings account. At any given time, bank have only 25% (in my country its 25. It may vary country to country) as liquid cash. But if suposse borrowers have defaulted on payments and all the savings account holders want to withdraw at same time. Do you know what happens ? Govt comes to bail out. But here in crypto. There is no govt. So instead hold patience. Dont just keep complaining all the time. It doesnt solve anything
fractional system?
I guess it means even it means that backing doesnt have to be 100% to remain in peg.
in the case you described above a central bank acts as a lender of last resort and helps the bank get out of the trouble. in the case of usdn Sasha acts as a central banker. nothing wrong with that. but pretending that usdn is decentralized is beyond ridiculous
Decntralozation doesnt mean mob rule. Some regulation has to be there. Hence sasha is pushing for a usdn dao for decentralization. And admit or not but dao is same as a monetory regulator. Only diff is it a group.
not a mob rule, but a set of rules (protocol) that can't be changed and modified on a whim of one person
What you are talking about is achieved by adding multi-signatures to contracts to prohibit one person from changing the contract. At the moment, as I understand it, the contracts contain only the signatures of the waves team members. Let's see how this changes in the future
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