Luckily enough, the way I'm reading it is that layer 1 bonds is a non-starter.
I speculate that it would slow down the chain to keep track of all the data.
This is why smteees!™ never happened.
Layer 2 can be just as secure as layer 1, if the devs build it that way.
Then folks can write whatever contracts they want, and we will see what floats and what stincs.
I'm hoping vsc delivers on that, we'll see.
SMTs never happening had nothing to do with blockchain performances. This was simply because Steemit, inc. has never been able to finalize and deliver.
Being secure isn't enough. You also need trust and reliability.
Yeah which is why at best we don't get actual bonds... just different options for how long to lock the HBD for different yields. That would be the same load on the network as we have now.
In that case I am in favor of no change.
Let vsc, or any other team, set the options.
If what I understand of the project is true, then we will have plenty of investment options negating the need for level 1 bonds.
Afaik, the project is being developed as trustless.