home / videos / cheating-is-expensive
Cheating is expensive | Why Blockchains Stay Honest! ðŸ§
Published · Why Blockchains Stay Honest
Description
Summary
Written from the stream's auto-generated captions.
- See, crypto aligns its self-interest with the health of the network.
- Now, if you have no idea what I'm talking about, if you don't know that blockchain technology is probably going to run everything in the background that you do online in the next 10 years, come to Underground Crypto Deep Dive Research Show and raise that crypto IQ.
- When honesty becomes the most profitable option, trust can emerge from code.
- That's what allows decentralized systems to operate without a central authority.
Show transcript (2 sections, auto-generated captions, expect typos)
I don't know who needs to hear this, but crypto works because [music] cheating is expensive. And a lot of people wonder why strangers around the world would want to follow the rules. The answer is incentive. [music] Validators are rewarded for acting honestly and penalized for acting dishonest or cheating. In other words, crypto networks make >> [music] >> honesty more profitable than dishonesty. And it's that simple. That's what allows decentralized systems to operate without a central authority. See, crypto aligns its self-interest [music] with the health of the network. And when honesty becomes the most profitable option, trust can emerge from code. This is the whole idea of blockchain [music] technology. Now, if you have no idea what I'm talking about, if you don't know that blockchain technology is probably going to run everything in the background that you do online
in the next 10 years, come to Underground Crypto Deep Dive Research Show [music] and raise that crypto IQ.
→ Related videos
all videos →
Raise your Crypto IQ, one stream at a time.
New breakdowns and live Token Autopsy streams on YouTube. Free, unlike most lessons in crypto.