shazow
@shazow.eth
A common blockchain criticism is "why can't we just do this but without speculation?" Is there a good layman explainer we can link to on why blockchains require a native token with financial value?
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links 🏴
@links
The financial value is what powers the incentive system. It’s like asking if we can run cars without the price of gas going up.
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Fucory
@fucory
Blockchains need a bridge to the real world to exist and economic value via proof of work or proof of stake and native tokens are the only things we have figured out how to bridge
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‍‍
@git
my answer is why does it matter that there are speculators?
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Brent Fitzgerald
@bf
I haven’t seen one. It’s not easy talking security and incentives with casual humans But I think blockchain stuff can probably become pervasive with most people having zero intuition about how it works.
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Andrei O.
@andrei0x309
Coming from someone who wants to see capital power diminished, the reality is that capital is needed in order for any project to survive, if that wasn't the case, like if we lived in a different world where capital was not needed to survive decently then a native token would not be needed for the network, as people could sustain a network just by being interested in it. In layman's terms, the native token is there to create revenue for a network to at least cover the compute costs, but sometimes will also create profit, that's not 100/100 required but covering the cost is.
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avi
@avichalp
you need a token to meter gas usage otherwise validators (or whoever run this computation) will be ddos-ed
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