P2P systems historically have dealt with the problem altruistically, or with limited tit-for-tat, which both work in many cases, but have so far failed to work for large scale long-term resilient systems.
This is where Bitcoin managed to do something remarkable: achieve high uptimes typical of the best centralized systems, through a very clever, but still open and permissionless, economic incentive structure. Markets have been shown to be extremely useful to create a robust Open Services. More on these ideas here: https://www.youtube.com/watch?v=IfLIoOr4p0A -- we think this kind of thing is going to lead to extensive, global, public utilities run w/ internet-native money.
But it will take a while-- this stuff is extremely difficult to build right now-- it feels similar in nature to very early Web, or pre-unix systems. Lots of hand-rolled primitives, many with the capacity to cause serious failure (not very old cryptography, and complex security questions). Perhaps better programming languages will help us build these systems dramatically faster/easier. For now though, you can see the entire blockchain space wrestling with these problems.
P2P systems historically have dealt with the problem altruistically, or with limited tit-for-tat, which both work in many cases, but have so far failed to work for large scale long-term resilient systems.
This is where Bitcoin managed to do something remarkable: achieve high uptimes typical of the best centralized systems, through a very clever, but still open and permissionless, economic incentive structure. Markets have been shown to be extremely useful to create a robust Open Services. More on these ideas here: https://www.youtube.com/watch?v=IfLIoOr4p0A -- we think this kind of thing is going to lead to extensive, global, public utilities run w/ internet-native money.
But it will take a while-- this stuff is extremely difficult to build right now-- it feels similar in nature to very early Web, or pre-unix systems. Lots of hand-rolled primitives, many with the capacity to cause serious failure (not very old cryptography, and complex security questions). Perhaps better programming languages will help us build these systems dramatically faster/easier. For now though, you can see the entire blockchain space wrestling with these problems.