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The blockchain is nothing. It's just a database with some transactions which have a hash of the previous blocks... it's just a simple database in and of itself,
by IkmoIkmo 11y ago
The blockchain is nothing. It's just a database with some transactions which have a hash of the previous blocks... it's just a simple database in and of itself, no better than an ordinary (centralised) database.
The cool part is that it's decentralised, and you can only do that with bitcoin, or some equivalent decentralised value token (call it a currency if you want, doesn't matter but there has to be a token with value).
Big finance has very silly ideas about a bitcoinless blockchain. No other POW or equivalent protocol has a value token anywhere near the size of bitcoin, and thereby nowhere near the security. The blockchain is nothing without bitcoin, until it is usurped and there's zero indication of that happening.
There are lots of 'internal' blockchain ideas floating around right now, i.e. not decentralised, proprietary 'blockchains', which are really just ordinary centralised databases which have nothing to do with the concept 'blockchain' at all and are not novel in any way and have been around for many, many years, and Big Finance is eating that stuff up. It's nonsense really.
- deleted 11y ago[deleted]