|
August 10, 2019, 05:33:30 PM |
|
Welcome to the BitcoinTalk forum WikLock. That's pretty simplified, a detailed description of the mechanism can be found in the White Paper on page 6 chapter 2.1 "Warranty by time limitation". Of course, it is difficult to prove the concept of a system which doesn't exist already and your concerns of this special case are reasonable but when you read the full Proof of Concept (PoC) your doubts will be dispelled. You can find the derivation of the calculations of the rate of punishments on page 4 to 6 of the PoC. The results are based on analyzing about 21 million real buyer ratings, including unjustified ratings, while the trustee systems (AmazonPay and PayPal) are included for a comparison of the resulting costs. Pages 1 to 4 explain in detail how these trustee systems can be compared to SavAct. There are many logical reasons why the rate of punishments should be even lower, see for example page 10. We always considered the worst assumptions for SavAct in the calculations. Even then, SavAct saves a lot of money for the sellers.
|