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> With a SQL database, how do you achieve consensus on a proposed transaction without a middleman taking an arbitrary cut of the proceeds? Um, there is still a
by spookthesunset 8y ago
> With a SQL database, how do you achieve consensus on a proposed transaction without a middleman taking an arbitrary cut of the proceeds?
Um, there is still a middleman taking a cut with Satoshi's Glorious Blockchain. It's called transaction fees and they go to the miners who piss away small countries worth of electricity in order to validate a pathetically small number of transactions. You didn't think proof of work was free, right?
- proofofmoon 8y agoNo reasonable industry would use Bitcoin's proof of work to transact between <10 semi-trustworthy parties. We're talking about private, permissioned blockchains.
- inimino 8y ago> permissioned I.e. "trusted". So what does this bring over existing consensus algorithms, besides the "blockchain" buzzword hype?
- proofofmoon 8y agoWhich ones are you thinking of? They should support immutability and auditability as first-class citizens while being resistant to third-party manipulation/coercion.