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You are correct - permissionless blockchains have a completely different threat model that results in a high cost to secure the blockchain from attack. The vast
by statoshi 10y ago
You are correct - permissionless blockchains have a completely different threat model that results in a high cost to secure the blockchain from attack. The vast majority of new blockchain systems we're seeing developed are private, permissioned systems. This offers a different security model that is still useful for a variety of situations, such as in existing financial network where there is already a fair amount of trust between the actors.
- zby 10y agoIt is kind of confusing to use the terminology from bitcoin on solutions unrelated to the element that was the technological breakthrough in bitcoin.
- brighton36 10y agoIt's fraudulent, even. Many of these "blockchain" companies are just writing weird crud apps, and marketing it as something else.