4 ms·
I know banks don't want that, because if they did, they'd have been using it 10 or 20 years ago when it was invented.
by brighton36 11y ago
I know banks don't want that, because if they did, they'd have been using it 10 or 20 years ago when it was invented.
- wmf 11y agoThe article explains why this is not true: back-end financial technology is boring and banks weren't willing to spend enough money or risk on upgrading them until overwhelming blockchain blockchain blockchain hype pushed them over the edge.
- troymc 11y agoWhat's different now: * Better BFT algorithms (e.g. lower network load, more reliable in practice) * Faster computers * Better computer networks * Cheaper storage * Better software development and deployment practices (faster, more reliable, more secure) * and yes, the recent interest in BFT spurred by Bitcoin. For example, the original algorithms had network load that was exponential in the number of nodes, O(2^N). Some newer non-POW algorithms are O(N*polylog(N)).