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The main benefit of blockchain is that it is trustless and censorship-resistant. You don't need to trust any business entities. You can transact with someone in
by rrecuero 9y ago
The main benefit of blockchain is that it is trustless and censorship-resistant. You don't need to trust any business entities. You can transact with someone in a zero trust environment on the other side of the world
- qyv 9y agoJust because you use a blockchain doesn't make your implementation trustless, nor censorship resistant.
- ruiquelhas 9y agoActually, according to the original definition - https://github.com/trottier/original-bitcoin/blob/92ee8d9a994391d148733da77e2bbc2f4acc43cd/src/main.h#L795-L800 https://github.com/trottier/original-bitcoin/blob/92ee8d9a99... - it does, since blockchain is bitcoin (and vice-versa), and as far as anyone can tell, currently it is indeed trustless and censorship resistant. The problem is that some people adopted blockchain as some kind of weird gimmick to wrap extraordinary claims such as the ones in the original post and promote scams (altcoins, appcoins, whatever).
- jhwang5 9y agoNot sure about censorship-resistance. Bitcoin transactions can be traced back to some identity, especially if the payer's Bitcoins were originally funded with fiat currency that came from the banking system.
- ruiquelhas 9y agoThat does not say anything about censorship resistance, because it does not mean the transactions can be reversed (on the contrary). That's a problem of anonymity (or lack thereof).
- jhwang5 9y agoYes, but wouldn't the fact that it's not totally anonymous discourage people from saying whatever they want? Like, self-directed censorship.