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Blockchains have their limitations, but generally speaking they're a useful tool for 'decentralised trust'. Enabling network nodes to trust each other without r
by ZenoArrow 11y ago
Blockchains have their limitations, but generally speaking they're a useful tool for 'decentralised trust'. Enabling network nodes to trust each other without relying on a central authority is useful in a number of fields, that's why there's a buzz around them.
- paavokoya 11y agoSo an "intranet" to bitcoin's "internet"
- ZenoArrow 11y agoBitcoin isn't really analogous to an "internet", but I think I get what you're trying to say, in that blockchains offer a form of private network on top of the shared public network. There is some truth in that, though it goes beyond public and private, it's truly about trust. All transactions on the Bitcoin blockchain (in its current form) can be seen by everyone else in the network. The trust comes from sharing knowledge about transactions, every Bitcoin (and Satoshi, which are fractions of a single Bitcoin) is traceable by every node on the network. In some ways it's even more 'public' than the Internet it is running on.