5 ms·
Well, he seems to think consensus = mining; I got news for you -that's not even remotely true! He also seems to think permissioned chains are worthless; hyperle
by scottlocklin 8y ago
Well, he seems to think consensus = mining; I got news for you -that's not even remotely true! He also seems to think permissioned chains are worthless; hyperledger fabric seems to have a whole lot of investment for a worthless thing. And things like EOS which blend voting/stake with permissioning seem to work reasonably well, even if an EC2 crash would probably take them down.
I'm no blockchain maximalist, and I understand the disgust at the hype around it, but it is an important tech, and Schneier obviously has done no real thinking on the subject. He doesn't even make a distinction between "coins" and ... blockchains. They're not the same!
This is only his misunderstanding of the technical aspects. As I said above, he also misunderstands the social aspects. Some people really trust the crypto community more than they trust banks/governments. It's at least a reasonable hedge, particularly in light of the events described in the bitcoin genesis block.