Been spending some time reading the Chain cash white paper.

Question

Been spending some time reading the Chain cash white paper.

I like the idea of having a chain of collateral to cover the value of the note.

However I see a problem with users being able to issue notes without posting collateral.

Doesn't this incentivize users to just Create non-backed notes?

Also I see some problems of the notes are not backed by on chain assets. Can't a bad actor just say: " Nope I won't pay the note"

#cryptocurrency #english #ergo

0

26.02.2024

4 ответов

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kushti khushi

It is possible to issue notes without any backing , however, the main question is who will accept it. And then ChainCash can be thought as a P2P network with different freely interacting subnetworks: * agents accepting fully backed notes - alternative of traditional fully backed paper gold systems (Hundi / Hawala etc) * fractional reserve free banking systems with possibly undercollateralized notes * (mostly community level) monetary systems with no collateral at all - LETS, community currencies etc

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7 месяцев назад

Jesper Agger Автор вопроса

kushti khushi
It is possible to issue notes without any backing ...

Ahh. Kind of like "Choose-your-own-risk-currency" This makes sense. Users choose their own level of transparency and risk

0

7 месяцев назад

Jesper Agger Автор вопроса

kushti khushi
It is possible to issue notes without any backing ...

However this, to me still leaves the unsolved problem of off chain collateral. What stops a bad actor from not honoring redemption. Unless the assets are locked in a smart contract, The bad actors only punishment is to have to create a new agent and re-enter the chain. The system is not fully trustless. How does chain cash solve this?

0

7 месяцев назад

HQΣr | Wont Dm 🐾 · Accepted Answer

HQΣr | Wont Dm 🐾

@kushti_ru

0

7 месяцев назад

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Been spending some time reading the Chain cash white paper.

4 ответов

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