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How does anyone trust it then? Isn't it by default able to have them alter it then, as they win 51% of the processing power? It seems to miss all the benefit of

by tibbon 11y ago

How does anyone trust it then? Isn't it by default able to have them alter it then, as they win 51% of the processing power? It seems to miss all the benefit of a blockchain, or I'm missing something?

sanswork 11y ago
They know all the participants and they don't use PoW. The benefits of a blockchain are known entry ordering and immutability. It sounds like you are missing a lot by having a bitcoin centric view of the problem space.
- nickpsecurity 11y ago
  Every time Ive ever heard blockchain on here it was a Bitcoin- or Xcoin-centric view involving mining. I always countered with stuff like you just said from old research into distributed, fault-tolerant DB or SCM design. I had no idea until now that there was even parallel blockchain work with no proof of work. So there might be a greater press problem at work here not bringing out knowledge of other aspects of blockchain research to wider audience. I dont closely follow the field so I cant accurately guess more.
  - brighton36 11y ago
    The so-called non-work based blockchains are typically just presented as blockchains for the marketing hype. These are run of the mill paxos databases which isn't very useful compared to modern signed message sending platforms that companies like swift use
    - nickpsecurity 11y ago
      I figured it was something like that. Makes sense. Audible sigh once more for effect of marketing hype on comprehension.
  - sanswork 11y ago
    I think the main press issue is that these other chains aren't really for public use so there is little benefit to pushing for press unless you're a company that develops them trying to find clients and we do actually see a lot of stories about this in the financial news.
    - nickpsecurity 11y ago
      Makes sense.
s73v3r 11y ago
Same reason people trust the banks current way of doing things. Keep in mind, this is just for the banks. You're not going to use it, except indirectly as your bank is using it to talk with other banks.

by tibbon 11y ago

sanswork 11y ago

They know all the participants and they don't use PoW. The benefits of a blockchain are known entry ordering and immutability. It sounds like you are missing a lot by having a bitcoin centric view of the problem space.

nickpsecurity 11y ago
Every time Ive ever heard blockchain on here it was a Bitcoin- or Xcoin-centric view involving mining. I always countered with stuff like you just said from old research into distributed, fault-tolerant DB or SCM design. I had no idea until now that there was even parallel blockchain work with no proof of work. So there might be a greater press problem at work here not bringing out knowledge of other aspects of blockchain research to wider audience. I dont closely follow the field so I cant accurately guess more.
- brighton36 11y ago
  The so-called non-work based blockchains are typically just presented as blockchains for the marketing hype. These are run of the mill paxos databases which isn't very useful compared to modern signed message sending platforms that companies like swift use
  - nickpsecurity 11y ago
    I figured it was something like that. Makes sense. Audible sigh once more for effect of marketing hype on comprehension.
- sanswork 11y ago
  I think the main press issue is that these other chains aren't really for public use so there is little benefit to pushing for press unless you're a company that develops them trying to find clients and we do actually see a lot of stories about this in the financial news.
  - nickpsecurity 11y ago
    Makes sense.

s73v3r 11y ago

Same reason people trust the banks current way of doing things. Keep in mind, this is just for the banks. You're not going to use it, except indirectly as your bank is using it to talk with other banks.