IOTA
$0.49528 -3.73%
MIOTA · 19w

Qubic VS. Smart Contracts

Smart contracts are extremely expensive, and follow the rule of less is more. Each smart contract is executed on every single mining machine and the results are stored on every single node. That is ALOT of computation, and alot of mirroring. However, the iota qubic is executed on a quorum of machines, \(say 30 machines\) not 3,000 machines. A cryptokitty does not need their offspring to be calculated on every single machine in a country. This means that qubic will be able to run 100 transactions in the time ethereum takes to process 1 transaction. But what about sharding? Well ethereum sharding sort of approaches qubic speed, but it has its own drawbacks. First, shards would have the 51% attack weakness that ALL blockchains have. Qubic does not. Second, in order to mitigate the 51% attack weakness, no ethereum shard can drop below a critical threshold and that threshold is unknown and constantly changing based on attackers. Qubic can in theory drop to an assembly of 3 computers, and if the giver of work is masked, that work is safe from an attacker, and even if you wanted to be an attacker, getting an assembly of 3 assemblies of 3 each \(9 total workers\) if the work were randomly assigned to assemblies on the market would make it hard if not impossible for an attacker to get two assemblies without controlling a sizable chunk of the entire assembly market. So in essence 9 machines running qubic can perform the same defense against an attacker attempting to break consensus as a shard of 1000 machines running a shard. What's worse for ETH is that the defensive power of the 9 scales with the total number of OTHER machines running Qubic. So in a few years, those 9 machines running qubic will have the defensive power of a 10,000 strong shard. Eth simply cannot compete through sharding. Where does that leave ETH? Well, we are going to eat eth ALIVE. $22 token is what a miota will take to reach Eth's level. And this won't happen slowly when it happens. Wh...
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