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> Isnt the entire purpose validation of data? No. Digital signatures are for validating the data (who said what). The whole purpose of blockchain is to tell wh
by dozzie 8y ago
> Isnt the entire purpose validation of data?
No. Digital signatures are for validating the data (who said what). The whole
purpose of blockchain is to tell who said what when. Document timestamping,
in other words. There were previous attempts at solving this problem, though
they needed a trusted third party.
> Services, Products, and Leadership is still needed, blockchain ONLY decentralizes the validation.
No, it does not decentralize validation. It decentralizes assigning
timestamps to documents.
> Will blockchain allow any sort of revolution to happen?
Doubtful, given the previous timestamping protocols haven't brought about any
revolution.
> Or is it an expensive way to write to a database?
If you try to use it as a database, of course it will be expensive and
unwieldy. Blockchain is a service not designed to work as a database. It was
a document timestamping service from the day 1.
- robertAngst 8y agoThanks man. This is basically been my understanding for a while. Glad I'm 90% BTC and didnt fall for alt coin mania.