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Maybe a different but related question worth asking is: what does a blockchain accomplish that cryptographically signed audit logs in a centralized database don
by munchbunny 8y ago
Maybe a different but related question worth asking is: what does a blockchain accomplish that cryptographically signed audit logs in a centralized database don't?
Setting aside the specific technical details, in concept a database of cryptographically signed audit logs and a blockchain aren't so different - blockchain adds decentralization and a trust/truth resolution formula, at the cost of a different set of scalability concerns. So when is that decentralization specifically useful?
- mjevans 8y agoThe above, but published and witnessed (and signed) by others; I think that's often called a 'sigwit' system as shorthand.
- munchbunny 8y agoThanks for the reference! I got curious and looked it up. Turns out the term is 'segwit'. But more to the point, turns out some cryptocurrency implementations move the transaction database to a segwit system because of the scalability problem. Huh.