Keybase is now supported by the Stellar Development Foundation
Blog author from Keybase here. Always game for a Hacker News discussion!<p>There&#x27;s a subtle point I cut from my post for simplicity reasons, but which feels perfect for HN. I&#x27;ve been convinced by Mazières and the Stellar team that the classic &quot;blockchain&quot; works great for native tokens but is extremely dangerous for anything with counterparty redemption. For example, imagine the shitshow after a truly contentious fork, if there are tokens which are supposed to be redeemable with a counterparty.<p>Let&#x27;s say Deutsche Bank had put €1 billion into colored coins on Bitcoin. Suddenly, after a fork (e.g. bitcoin vs. bitcoin cash), there would be €2 billion IOU&#x27;s in the wild. The people on each side of that fork would not roll over and die, and it&#x27;s not simple to say &quot;Oh, whoever Deutsche picks wins.&quot; Or even &quot;Whoever has the strongest chain wins.&quot;  I have a hard time imagining a company would ever take that risk. I worry big companies would never dare to put anything real-world redeemable directly onto, say, Bitcoin or Ethereum, for this reason. They&#x27;d just get sued over and over again.<p>The Stellar federated consensus story (HN debates about SCP below [1][2]) has Deutsche Bank as an actual player on the network.  If you want DB redemptions then you would include them in your trust lines &#x2F; quorum slices, and if Stellar fell apart and became partitioned, you would stay on DB&#x27;s side. All said, it seems significantly faster and more stable for cryptocurrency-to-real-world mappings, both for the consumer and counterparty.<p>Fun discussions:<p>[1] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=9341687" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=9341687</a> -- of particular note, because it has David Mazières, Vitalik Buterin, and Greg Maxwell all weighing in.<p>[2] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=16125920" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=16125920</a>