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The 'emperor has no close situation' with all blockchain technology is that they simply don't scale to any real-world capacity. What sets ethereum apart in that
by qwtel 11y ago
The 'emperor has no close situation' with all blockchain technology is that they simply don't scale to any real-world capacity. What sets ethereum apart in that respect, is that they at least have a plan about how to solve it. It is far from clear if it will even work and if they will be able to switch out the engine of a running blockchain, but if they are able to pull it off, I guess it would be a big deal.
- reddytowns 11y agoNot true, bitshares (bitshares.org) can handle 100,000 transactions per second right now. Also, regarding bitcoin, there is the lightning network which can take most of the load off the main chain.
- sgt101 11y agoBlockchain technology is a big area, proof of stake vs proof of work debates are interesting but there are simple mechanisms that provide different levels of trust in different settings. For example a simple 2/3 membership vote implemented in a closed system can provide substantial trust - although not perfect. On the other hand if 60% of your proof of work capability lives behind a firewall and may in reality belong to one actor due to that actors track record of kidnapping anyone behind the firewall that disagrees with it then you have an imperfect situation as well.