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We are still very much in the experimental phase of the technology and companies are taking many different approaches. Some companies are using Ethereum as thei
by EthanHeilman 9y ago
We are still very much in the experimental phase of the technology and companies are taking many different approaches. Some companies are using Ethereum as their blockchain so they don't have to build and operate one. Other companies are launching blockchains by which they mean a ledger created by a set of trusted validators running a BFT algorithm (see Distributed Systems). Systems built on a trusted set of validators don't need miners as they don't use PoW.
- jason_slack 9y agoThat makes sense. Thanks for explaining. They really just mean a ledger. Doesn't one lose the trust if the ledger is not distributed and verified by outsiders? Using a trusted set of validators, I assume is an internal operation. They aren't asking "Joe Nobody" off the street to become a trusted validator...
- EthanHeilman 9y agoThe hope is that the validator set would include many different trustworthy organizations in different parts of the world.
- moocowtruck 9y agocould all these validators agree at their own whims to roll back their ledger to undo a change?