You are viewing a single comment's thread from:

RE: This is why STEEM will be the de facto base currency of the Internet

in #steemit • 7 years ago

And then my gripe with the STEEM system is that it is more of a decentralized republic or representative decentralized cryptocurrency.

You would be right in some sense. It is not a republic because the laws are encoded, but they can be changed, making it a democratic republic. I don't get the words "representative decentralized" though.

You seem to suggest that this is better than the anarchy employed by other security systems such as PoW. Is that right?

7 years ago in #steemit by
$0.02
  • Past Payouts $0.02
  • - Author $0.02
  • - Curators $0.00
2 votes
Reply 1
Sort:  
  • Trending
    • [-]
     7 years ago 

    You seem to suggest that this is better than the anarchy employed by other security systems such as PoW. Is that right?

    i dont understand either enough to say which is better. but the speed and efficiency (from my understanding) of the STEEM blockchain would lead me to superficially believe that it is better.... does that complex response clarify my position on this?

    I don't get the words "representative decentralized" though.

    decentralization*?

    yeah i'm basically saying the same thing as "democratic republic" or "representative democracy"