Blockchain

Proof-of-stake (PoS)

• Tendermint

  • Instant finality (~1-3 seconds), cannot be uncommitted/reverted

Proof-of-work (PoW)

• Bitcoin

  • Movement of value

  • It only gets finalized when it's deep in the chain

  • Slow finality due to non-probabilistic finality (~10 mins)

• Ethereum

  • Smart contracts

  • Ethereum and Ethereum Classic cannot have the same validator set because fundamentally they have different philosophies

  • Cryptokitties's transactions were hogging up the Ethereum's transaction log.

Smart Contracts

• It should be just smart contract

• The issue comes when people create an application-based app using smart contract

• Cosmos SDK makes it really easy to write their own application

Application-Specific Chains

• Reduces attack surface

• Efficiency gains due less computational overhead

• Fine tune to optimize for your application

Hard Spoon

“A hard spoon is a meta-protocol on top of a blockchain creating a token that inherits the blockchain’s underlying token’s balances. The idea of a soft spoon would be to create two competing *branches of a protocol* within *the same blockchain.*” — Vitalik Buterin