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The innovation behind a blockchain-based system isn't the ledger or the distributed nature of the thing. It's the incentive structure behind proof-of-work that
by m3ta 10y ago
The innovation behind a blockchain-based system isn't the ledger or the distributed nature of the thing. It's the incentive structure behind proof-of-work that gives Bitcoins their value.
The non-zero value of the bitcoin network is the reason the blockchain exists, and it's the reason it can be used as a decentralized neutral third party for building apps. The blockchain "killer app" is money (Bitcoin).
- radarsat1 10y agoBut that already exists. So what is all this other stuff?
- m3ta 10y agoThat is the million BTC question. Bitcoin, on its own, could "change the world". Other blockchain apps could be influential even if the network/reach of Bitcoin stays at its current level. It's unclear which implementation (if any) will be the winner in the long run.
- AtheistOfFail 10y agoNot Invented Here in a nutshell. Noone wants to buy Bitcoin to enrich those who came before them, so they'd rather setup their own version and sell it to others as "the next big thing"