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So, we may finally have found a good completely legal application for Bitcoin and blockchain contracts? A blockchain-based rating system could be the killer ap

by aylons 10y ago

So, we may finally have found a good completely legal application for Bitcoin and blockchain contracts? A blockchain-based rating system could be the killer app here.

espadrine 10y ago
How would a blockchain possibly help with that? If it was proof-of-work, why would anyone trust that spending CPU time correlates with saying the truth? If it was proof-of-stake, how can you guarantee that bad actors won't simply create a new public key? And regardless, who would switch to an app that drains their battery?
- em3rgent0rdr 10y ago
  You link your identity to the public ledger, and when people rate you positively, you build up your overall repuation score which anyone can verify on the public ledger.
  - deleted 10y ago
    [deleted]
  - Dylan16807 10y ago
    And a web of trust benefits from blockchains or smart contracts because _____?
    - em3rgent0rdr 10y ago
      because there is no centralized determinator of trust.
      - Dylan16807 10y ago
        Web of trust doesn't have a centralized determinator. You assign trust to people you've interacted with, and they assign trust to people they have interacted with, etc. Putting it on a blockchain doesn't make that more effective. If you look at the reviews of strangers, you have to figure out which ones are real and which ones are fake... it works exactly the same with or without blockchain.
        em3rgent0rdr 10y ago
        putting it on the blockchain provides a mathematical proof that entity X got score Y. That itself doesn't solve the problem of proving that entity X corresponds to person P. Although person P could tie something such as driver's license number to entity X. Of course that could be done with a centralized trust system as well. But with the centralized trust too, but also requires trusting the centralized trust, and makes everyone subservient to that centralized trust.
        Dylan16807 10y ago
        Traditional web of trust has private keys for everyone. It's already decentralized and secure.
        em3rgent0rdr 10y ago
        but web of trust means you have to trust your neighboring nodes, and trust that they are determining trust correctly for their neighbors, and so on.
        Dylan16807 10y ago
        You can use the exact same semi-trusting and crowd-trusting methods you would use on a blockchain. It's basically the same data, just without an extra layer of complexity thrown on.

by aylons 10y ago

So, we may finally have found a good completely legal application for Bitcoin and blockchain contracts? A blockchain-based rating system could be the killer app here.

espadrine 10y ago

How would a blockchain possibly help with that? If it was proof-of-work, why would anyone trust that spending CPU time correlates with saying the truth? If it was proof-of-stake, how can you guarantee that bad actors won't simply create a new public key? And regardless, who would switch to an app that drains their battery?

em3rgent0rdr 10y ago
You link your identity to the public ledger, and when people rate you positively, you build up your overall repuation score which anyone can verify on the public ledger.
- deleted 10y ago
  [deleted]
- Dylan16807 10y ago
  And a web of trust benefits from blockchains or smart contracts because _____?
  - em3rgent0rdr 10y ago
    because there is no centralized determinator of trust.
    - Dylan16807 10y ago
      Web of trust doesn't have a centralized determinator. You assign trust to people you've interacted with, and they assign trust to people they have interacted with, etc. Putting it on a blockchain doesn't make that more effective. If you look at the reviews of strangers, you have to figure out which ones are real and which ones are fake... it works exactly the same with or without blockchain.
      - em3rgent0rdr 10y ago
        putting it on the blockchain provides a mathematical proof that entity X got score Y. That itself doesn't solve the problem of proving that entity X corresponds to person P. Although person P could tie something such as driver's license number to entity X. Of course that could be done with a centralized trust system as well. But with the centralized trust too, but also requires trusting the centralized trust, and makes everyone subservient to that centralized trust.
        Dylan16807 10y ago
        Traditional web of trust has private keys for everyone. It's already decentralized and secure.
        em3rgent0rdr 10y ago
        but web of trust means you have to trust your neighboring nodes, and trust that they are determining trust correctly for their neighbors, and so on.
        Dylan16807 10y ago
        You can use the exact same semi-trusting and crowd-trusting methods you would use on a blockchain. It's basically the same data, just without an extra layer of complexity thrown on.