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Who is doing the mining/securing if they aren't using Bitcoin?
by SatoshiRoberts 11y ago
Who is doing the mining/securing if they aren't using Bitcoin?
- sanswork 11y agoYou don't need mining for private chains.
- mintplant 11y agoSo, what, they're glorified Merkle trees?
- sneak 11y agoYes, as it turns out, cryptographically timestamped ordering of cryptographically signed individual transactions is a useful thing for trading markets.
- mooneater 11y agoso, basically git
- sneak 11y ago...but with a network protocol, peer discovery/exchange, record gossip, and defined strict data format for the contents of commits; but basically yes. Blockchains aren't any fundamentally new underlying technology, they're just existing technology bolted together in a new way that enables new applications. DHT and BitTorrent are similar in that regard.