4 ms·
If you get big enough, you'll find that Bitcoin's blockchain a terrible blockchain for what you're doing. It's throughput is on the order of 1 transaction per s
by troymc 11y ago
If you get big enough, you'll find that Bitcoin's blockchain a terrible blockchain for what you're doing. It's throughput is on the order of 1 transaction per second, you can't store much data per transaction, the latency is on the order of an hour (before you can be sure your transaction is "in"), and the fees per transaction are on the order of tens of US cents (unless you want to wait even longer).
There are other problems, but I'm sure you read the news.
- williamcotton 11y agoConsidering that registering with the Copyright Office takes 8-10 month I think that waiting a few hours for a transaction to end up in a block during peak times is a big improvement! Open Publish doesn't need to be on any specific blockchain. We started with the most popular and most secure. All that Open Publish needs is a decentralized consensus public-access datastore based on public key cryptography. We could also very easily batch registrations and transfers in to just a few Bitcoin transactions an hour. Since we're using our own Bitcoin you can be pretty sure that as our costs begin to climb upwards that we'll look in to making things cheaper! We have been actively building software on top of the Bitcoin blockchain for over two years. We're very familiar with both the protocol and the intermittent weather on the network. The pros and cons are well known to us but that doesn't mean your concerns are not valid! You are free to try it out for yourself: https://github.com/blockai/openpublish https://github.com/blockai/openpublish