They say: > To make servers and groups sustainable. As EVM blockchains (Ethereum etc.) added support for zero-knowledge proofs, smart contracts seem a good fit for secure payments for server capacity And then: > You can use whatever cryptocurrency you like, but we are not using ETH - we are using EVM blockchain because of the foundation it provides to build a programmable network-wide consensus, like no other public blockchain The two sentences do not seem to get along very well. In any case, I ignore the implementation's details, but could someone propose an equivalent solution based on Bitcoin? Or is the model totally flawed and therefore needs to be completely revised (see Nostr)?
Keychat's avatar Keychat
It’s sad to see Simplex fall into the tempting smart-contract blockchain token trap. This is also why Keychat uses ecash sats as postage stamps for messages.
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A lot of the "utility" of these shitcoin projects is just having a timestamping system. That allows these systems to have ordering of transactions, transfer of ownership of something etc. OpenTimestamps should suffice for anything needed in nostr. For example, Pablo's key rotation proposal uses OTS for it. Nostr already has a merged NIP for events to be OTSed soo there is no reason why we can't use native nostr events (with ZKPs or whatever) and just OTS them, the downside of that is that now nostr clients have a dependency on lookup services that work with Bitcoin and OTS
The mistake they make is trying to centralize all the costs of hosting a group. Relay-based groups on Nost don't assume that, it is just a group where anyone can run anything (mostly group admins but they can offload to some to enthusiastic members) *while staying compatible using nostr events* (signed and standardized) . You can imagine plenty of sustainable models in this setup, and you get the network effect benefit. Simplex wants to run on a platform model to capture value while not being the central point of failure. This is unfeasible.
I still don't understand what they are doing. The ultimate question seems to be one of funding? So their solution is for users to buy a shitcoin and get rugged? ngmi Just pay for the service with bitcoin and don't rug your users. There's your solution. Left of curve is best of curve.
Exactly, I don't understand if it's a funding issue, or a technical one. Or maybe both, with a convenient link.
daniele's avatar daniele
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