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"That is exactly what blockchain is. It is literally doing that." It isn't: it's a chain of hashes with signature. Those predate blockchains that do things lik
by nickpsecurity 8y ago
"That is exactly what blockchain is. It is literally doing that."
It isn't: it's a chain of hashes with signature. Those predate blockchains that do things like wasteful mining. An example was Surety's timestamping service. A hashchain using standard primitives is way less wasteful, supports higher transaction volume, is cheaper, and can take advantage of hardware acceleration in client and server devices.
One of reasons I oppose blockchain tech is that you get better cost-benefit ratio out of high-performance, centralized protocols with decentralized checking. We also have some of that mathematically verified for correctness down to assembly. So, they will be more secure than complex, decentralized protocols.
- shepardrtc 8y agoThere are more blockchain consensus algorithms than just Proof-of-Work. Its probably the most inefficient, and that's well known. I personally prefer Ripple's consensus algorithm.
- deleted 8y ago[deleted]