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Does anyone have a link to a simplistic explanation of the block chain and why it seems to be so relevant?

joeyspn 11y ago
A bit long, but probably the best explanation you can find out there... https://www.youtube.com/watch?v=sE7998qfjgk https://www.youtube.com/watch?v=sE7998qfjgk
macns 11y ago
blockchain aims to solve the "Two Generals' Problem"[0] short explanation in video[1] On what the article says, transactions not relying on the first bitcoin blockchain are more vulnerable to 51% attacks[2]. Though if that many big corps joined, they could achieve a well established, attack-proof consensus relatively fast - - this probably is bad news[3] for Bitcoins' blockchain "ambitions" which is considered by many a solution to de-centralize the "internet" or services depending on third parties. [0] In computing, the Two Generals Problem, is a thought experiment meant to illustrate the pitfalls and design challenges of attempting to coordinate an action by communicating over an unreliable link: https://en.wikipedia.org/wiki/Two_Generals%27_Problem https://en.wikipedia.org/wiki/Two_Generals%27_Problem [1] https://www.youtube.com/watch?v=sYduOfRLHq0 https://www.youtube.com/watch?v=sYduOfRLHq0 [2] https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_... EDIT: format, clarification UPDATE: [3] just saw the linux foundation page, this might actually be a good thing, forgive my ignorance
- sanswork 11y ago
  >blockchain aims to solve the "Two Generals' Problem"[0] short explanation in video[1] PoW aims to solve that. Blockchains are just a way to store data in an agreed format with immutability and known ordering. >On what the article says, transactions not relying on the first bitcoin blockchain are more vulnerable to 51% attacks 51% attacks are an issue for PoW systems. Private chains don't need PoW so aren't vulnerable to them.
  - brighton36 11y ago
    Private chains are also trivially compromised. Much more so than a traditional database
    - sanswork 11y ago
      Please share with the class how?
      - brighton36 11y ago
        Look into nxt, peercoin, a few of the other pos chains. They all failed due to stake grinding. read the poelstra papers for why pos is untenable
        sanswork 11y ago
        When you know every participant you don't need PoS or PoW you can us RR. Like I've said elsewhere you are arguing from ignorance and because you've bought into the religion of bitcoin.
        brighton36 11y ago
        Round robin is trivially DOS'd . also, sharing your private finance data with your competitors is not an economic efficiency. Bitcoin isnt good for very much, it's mostly just useful for value transmission and censorship resistance. You're new to blockchains and don't know that, so you intend to blockchain all the things. Which is a way more extreme view.
        sanswork 11y ago
        How is it trivially DOS'd? You don't need to share all your private data just the data about transfers using the system which isn't going to be particularly sensitive unless you are in a bad way financially and will be worth it to minimize the amount of settlements required of your business. I'm new to blockchains? I'm pretty sure I'm not.
brighton36 11y ago
It's a buzzword, its a database, but with better marketing behind it.

A bit long, but probably the best explanation you can find out there... https://www.youtube.com/watch?v=sE7998qfjgk https://www.youtube.com/watch?v=sE7998qfjgk

macns 11y ago

blockchain aims to solve the "Two Generals' Problem"[0] short explanation in video[1] On what the article says, transactions not relying on the first bitcoin blockchain are more vulnerable to 51% attacks[2]. Though if that many big corps joined, they could achieve a well established, attack-proof consensus relatively fast - - this probably is bad news[3] for Bitcoins' blockchain "ambitions" which is considered by many a solution to de-centralize the "internet" or services depending on third parties. [0] In computing, the Two Generals Problem, is a thought experiment meant to illustrate the pitfalls and design challenges of attempting to coordinate an action by communicating over an unreliable link: https://en.wikipedia.org/wiki/Two_Generals%27_Problem https://en.wikipedia.org/wiki/Two_Generals%27_Problem [1] https://www.youtube.com/watch?v=sYduOfRLHq0 https://www.youtube.com/watch?v=sYduOfRLHq0 [2] https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_... EDIT: format, clarification UPDATE: [3] just saw the linux foundation page, this might actually be a good thing, forgive my ignorance

sanswork 11y ago
>blockchain aims to solve the "Two Generals' Problem"[0] short explanation in video[1] PoW aims to solve that. Blockchains are just a way to store data in an agreed format with immutability and known ordering. >On what the article says, transactions not relying on the first bitcoin blockchain are more vulnerable to 51% attacks 51% attacks are an issue for PoW systems. Private chains don't need PoW so aren't vulnerable to them.
- brighton36 11y ago
  Private chains are also trivially compromised. Much more so than a traditional database
  - sanswork 11y ago
    Please share with the class how?
    - brighton36 11y ago
      Look into nxt, peercoin, a few of the other pos chains. They all failed due to stake grinding. read the poelstra papers for why pos is untenable
      - sanswork 11y ago
        When you know every participant you don't need PoS or PoW you can us RR. Like I've said elsewhere you are arguing from ignorance and because you've bought into the religion of bitcoin.
        brighton36 11y ago
        Round robin is trivially DOS'd . also, sharing your private finance data with your competitors is not an economic efficiency. Bitcoin isnt good for very much, it's mostly just useful for value transmission and censorship resistance. You're new to blockchains and don't know that, so you intend to blockchain all the things. Which is a way more extreme view.
        sanswork 11y ago
        How is it trivially DOS'd? You don't need to share all your private data just the data about transfers using the system which isn't going to be particularly sensitive unless you are in a bad way financially and will be worth it to minimize the amount of settlements required of your business. I'm new to blockchains? I'm pretty sure I'm not.

brighton36 11y ago

It's a buzzword, its a database, but with better marketing behind it.