As you probably know from my earlier posts, I am highly interested in EOS and its features which is why I am studying some of its unique qualities.
Highlighting some of the additional features on the new upcoming EOS as it pertains to financial transactions.
•Blockchain is an immutable state of all the participants actions which are which are determined in a parralel way. Actions are interpreted as 'structs' that contain inherent fields and values (in the case of financial transactions).
•An additional feature of EOS is that it can feature a modular flexible system within the script itself such as a 'time based delay' by which contracts can be rolled back. By this feature contracts are robust enough to handle account recovery.
•In my opinion, running on top of EOS and adding a 'Time Delay' feature for the executable contracts' the majority parties in the particular sub ecosystem can prevent fraud and even perhaps a Mt.Gox type hack incident.
I'm more excited. Please spread the word and retweet as this is a game changer.
TBH I'm pretty excited about EOS in general
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I know how it feels..🙂
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都是英文的文章，看不懂。早知好好学英语。
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🙂
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Interesting. Sounds like a great way to avoid the Inevitable.
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Prevention better than cure..as the saying goes
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Depends on the cost of prevention vs cost of cure...
Cost of prevention goes to infinity as guarantees go to 100%, cost of a cure follows the opposite curve....
You don't do strip searches on every customer to prevent merchandise from being stolen, that may be 99.99999% effective at preventing theft, but it would drive your customers away. Instead you buy insurance, throw in a few cameras, and use RFID tags and alarms.
Likewise, it isn't cost effective to PREVENT hacks, but it is cost effective to cure hacks by adding time delays.
I guess it all goes into the definition of prevent and cure.
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I see your point in this...yes the costs of prevention can go up exponentially making it unfeasible but EOS as it is can integrate the necessary modular mechanisms (like time delay) in place to prevent to a great extent mishaps from happening.
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Thanks for clarifying it out to me.
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