Yeah I read a bit further and realized it's tied to Ethereum. But there seems to be an on-chain and off-chain design that I don't get.
Either way I'm staying away from anything that's tied to a crypto coin. I know Ethereum is also contracts, but I just feel that crypto is tainted with scams. If a technology wants to use a block chain, fine, but why tie it to a monetary value? That's when you start stepping over the line of tech and into people's life savings.
That feels a bit like throwing the baby with the bathwater. Ethereum provides a global, permissionless public key infrastructure. Then on top of that it has the token for payments, and the smart contract functionality to build whatever.
Farcaster simply taps onto the PKI part, to assign an identity that the user can own. That seems to be pretty legitimate use case. And you don't get any exposure to a token. In fact, you don't need to know any of those technicalities. Besides knowing that your identity and social graph (who you follow, who follows you, likes, etc...) cannot be rugpulled from you. Which seems pretty neat.
But immutable identities are possible without having it tied to money.
It's the fact that people are investing money, losing money, gaining money with this coin, that is bothering me. As soon as there is money to gain people become very manipulative.
>Minimizing bot activity: Farcaster requires that new users pay a $5 sign-up fee, aimed at preventing the creation of spam accounts, and limits users to a restricted number of “casts” tied to paid “storage units.”
MakerDAO has created a decentralized (because it's on Ethereum) and trustless (because no persons control funds, immutable code does) system of crypto-collaterized loans and a token called Dai that is soft-pegged to the US dollar. We've been on mainnet since last December, and growing very quickly all around the world.
Check out makerdao.com/careers for positions and mention HN in your email. If you fit a role not listed there, please still email careers@ and we can talk.
MakerDAO | Full Stack Developer, SysAdmin/DevOps, Business Dev | Santa Cruz, New York, Europe, Worldwide | ONSITE | https://makerdao.com/
MakerDAO has created a decentralized (because it's on Ethereum) and trustless (because no persons control funds, immutable code does) system of crypto-collaterized loans and a token called Dai that is soft-pegged to the US dollar. We've been live since December, and growing very quickly all around the world.
Check out makerdao.com/careers for positions, and email me (sean@) if you're interested in a role not listed there or have any questions.
MakerDAO | Full Stack Developer, SysAdmin/DevOps, Business Dev | Santa Cruz, New York, Europe, Worldwide | ONSITE | https://makerdao.com/
MakerDAO has created a decentralized (because it's on Ethereum) and trustless (because no persons control funds, immutable code does) system of crypto-collaterized loans and a token called Dai that is soft-pegged to the US dollar. We've been live since December, and growing very quickly all around the world.
Check out makerdao.com/careers for positions, or email me (sean@) if you're interested in a role not listed there.
MakerDAO | Santa Cruz, CA | Full-time | ONSITE| $80-120k
MakerDAO is creating a stablecoin on the Ethereum network. It has been in development for over 2 years, and is launching next week, so it's a great time to join! We are hiring for 6 different positions based in our new downtown Santa Cruz, CA office. Please apply through the website http://makerdao.com/careers/ or email me sean@{the company name}.com if you have any questions.
A cryptographic signing key is attached to each account, and they have been experiencing very fast growth over the past month.
A dashboard is possible to share because the data is open: https://dune.com/pixelhack/farcaster