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> like the belief that blockchains are useless without Bitcoin It would be more accurate to describe the community's attitude as "blockchains are useless witho
by nadaviv 10y ago
> like the belief that blockchains are useless without Bitcoin
It would be more accurate to describe the community's attitude as "blockchains are useless without a native currency to incentivize network security", which is definitely correct in my opinion. Having a native currency is crucial for the only true innovation in Bitcoin/blockchain - obtaining distributed consensus among non-trusting peers. The various "blockchains" out there without a native currency cannot achieve this goal, and therefore are not really blockchains [0] in my opinion.
[0] "blockchain" is really becoming an empty word nowadays and does not really have a clear definition, so each to his own... for me, "blockchain technology" represents the breakthrough that Satoshi came with - proof-of-work-based distributed consensus. For others, it means an append-only hash-linked data structure, but this existed long before Bitcoin and was possible since forever, and so not very interesting to me.