Byteball is a crypto, based on DAG instead on "classic blockchain", and DAG refers to Directed acyclic graph.
Currently, I working on Byteball Wiki, after already translating everything related to Byteball, from English - to Serbian.
In one of my previous posts, I wrote about the things I like about Byteball.
Now, I will stress several points I don't like.
Crypto is frightening
I'm aware the fact that all of you crypto geeks are well-educated, 120+ IQ points persons deeply emerged into the world of crypto for years already.
Here is the unpleasant truth:
Among Americans between the ages of 25 to 34, 37 percent have at least a bachelor's degree. Among those 55 and older, just under 30 percent have a four-year degree.
If there is a need to learn something new that exceeds 3 "words" (wallet, password, "X") 2/3 of people are not going to accept it. Keep it simple!
Limit the options. This is not intuitive for you, 120+ IQ points people,
There is 10% of people (in the developed world), with the IQ of 80 or less
If you make it possible to open the full-wallet and lose all the blackbytes, 10% of the general population will smash the computer in an outburst of uncontrollable rage. Keep the things simple for them.
I've noticed there is an option to chose multi-sig types 2-of-3 or 4-of-4 (n-of-m) with the disclaimer that every option is a bit flawed.
Believe it or not, 1/4 of the population is not able to make the decisions. You need to keep it simple and straightforward.
At this point where crypto is struggling to attract more customers, I think it's crucial to design something that can be "plug-and-play".
One Wallet, One Key, One Button "Press Send/Receive", Confirm by Smartphone.
Add Smart-Contracts and Conditional-Payments.
From my opinion, if you have an overwhelming amount of options, people will be terrified and they are not going to be interested in crypto. According to data, I'm not talking about 1% of potential customers, but rather about 40% (high IQ, solid education, curiosity, responsibility, tech. literacy...)
- Translation Overview
Byteball Wiki, Part V, some of the "scary strings":
Why there is an option to do something that will make the whole process - impossible?
When I walk into a bank, they tell me: "Sir, please deposit 20 EUR before proceeding with the account...". And I know that it will work fine once I give them 20 EUR. It's simple and convenient...
- Word Count
Word Count, Total: 6.283
Today: additional 1.000 words
Sub-total: 5.000, just one more left
Proof of Authorship
My Crowdin Profile: https://crowdin.com/profile/alexs1320
My GitHub Profile: https://github.com/alexs1320
Byteball on Crowdin: https://crowdin.com/project/byteball-wiki