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RE: Steem Blue Paper Awareness Initiative

in #steem3 years ago

@steemladder I honestly appreciate this information and your willingness to comment on my post to even get me to read all of this. Like many on here, most of this is foreign to me and some of the only things I can understand a very simple. Heck, I don't even know how to resteem something (or else I would have done it for this post like you asked). Upvoting made sense but is there not a button for resteeming? I swear I read the whole blue paper/post.

However, I did learn a lot. One thing that does stand out is the multi sig authorities. A clever idea, to my simple understanding, of how large transactions would take place if you can't trust the other party entirely. I feel like this fail-safe third party authority was a smart way to lessen the risk for those, especially new to blockchain technology (like myself).

The one thing that I understand to be the most significant is the saving account aspect to holding the steem or sbd. The idea itself combine with time-locks is a refreshing way of keeping people accountable but still safe from predators. For me that was a big convincing factor in my participation on steemit. Amongst my friends the biggest concern I have heard about block chain technology / cryptocurrency is the security of your acquired assets and wealth. I find this to be one huge factor that help continue to propel steemit into the mainstream of social medias (in a reliable, functional way).

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just figured out how to resteem sorry for the misunderstanding!