3 ms·
What I found especially amazing by that is traditional accounting is based on immutability already: you never delete a ledger entry, you add a correction. The s
by petertodd 10y ago
What I found especially amazing by that is traditional accounting is based on immutability already: you never delete a ledger entry, you add a correction. The same concept for a blockchain is trivial. Equally, if you _really_ do need to delete something, just insert a record into the blockchain instructing all nodes to delete that record. Sure, you won't be able to verify the chain 100% after you delete the data, but you'll have a auditable record of why that's the case.
- unknownsavage 10y agoActually their view point is perfectly consistent. They criticized _bitcoin_ not the blockchain. While a blockchain could support some of the regulatory required undo stuff (by appending a record that it's been undone), bitcoin itself certainly doesn't won't let you roll back a bunch of transactions.
- petertodd 10y agoRead the PDF: they're working on a chameleon hash scheme so that their blockchain can be undetectably modified, not unlike making an accounting ledger with dry erase markers. That's going way beyond disagreeing with Bitcoin; what they're doing doesn't have the strong auditability that you'd expect from a "blockchain" solution. It's closer to a bog standard database really.