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Camp Statement

Go live Time : 05 July 2014, 05:23 PM

Invictus Innovations Decentralized Autonomous Corporations

We currently support Bitcoin, all its virtues, and wish it the best in the future. But we believe there is a possibility that if Bitcoin becomes too pervasive, and if the Keynesians are right, Bitcoin could be very detrimental to the world economy. If such happened, Canonizer would seek to help solve this problem, possibly by attacking Bitcoin with methods such as those described in the "Canonizer.com Crypto IPO" topic. (see: Should Canonizer.com go public with Cryptographic Bit Shares? )

So It would not be good for Canonizer.com to use any technology dependent on Bitcoin.

Dan Larimer had his research organisation do a comparison of Etherium's product to Bitshares. This resulted in the following 8 reasons why Bitshares are superior to Etherium Technology:

  1. Mining means the DAO will be operating at a loss or break-even at best. No dividends.
  2. Scripts will require more blockchain space and bandwidth resulting in lower transaction volume for the same level of decentralization.
  3. We do not believe the scripts can efficiently implement a BitShares like market matching with automatic margin calls at scale. Implementing your bid/order matching system and database is a large amount of C++ depending upon efficient database access.
  4. Merged mining would be required to secure parallel chains... this has its own challenges.
  5. Mining will result in centralization one block at a time, something very bad for chains that implement markets.
  6. Finding GPU developers is hard enough, defining a new dedicated language for this purpose will be even harder.
  7. If you eliminate mining, then the cost of launching a new DAO is near 0 and you can simply use C++ to encode your contracts starting from a 'shell DAO' and launch without having to overload everyone not interested in your contract.
NO 'competitor' thus far is willing to admit that multiple parallel blockchains will be required to handle the order of magnitude greater transaction volume an exchange experiences vs Bitcoin and this is for a SINGLE currency pair. Imagine attempting to have every tradable market on one chain! This will rapidly be centralized into trusted supernodes that can handle the bandwidth requirements.
  1. You think bitcoin verification times have trouble scaling, imagine executing an interpreted language!
Invictus Innovations has a great page comparing the virtues of the various competing technologies here:


This open survey topic is part of the expert "Crypto Currency Survey Project".

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