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Well, yeah, private blockchains are practically useless unless they are a consortium chain, but even then the usefulness is questionable. Public blockchains are
by magnamerc 7y ago
Well, yeah, private blockchains are practically useless unless they are a consortium chain, but even then the usefulness is questionable. Public blockchains are an entirely different beast, and I kind of just dismiss people now when they claim that public blockchains like Ethereum are useless because it's quite clear that they haven't done enough research.
- floatboth 7y agoIndeed, public blockchains aren't useless, they're extremely useful for one specific thing: censorship resistance. Evading the law, that is. Now, of course the law isn't always just, it sucks that most countries ban drugs, it sucks that governments don't want anti-government activists to get donations, but the terrible things done with buttcoins vastly outnumber the non-terrible things. Cryptocurrencies have largely fueled the rise of ransomware, extortion and scams. People are literally burning energy on hash bruteforcing just so that scammers and malware authors could get paid.
- tomglynch 7y agoGoing along the same lines as your argument - would you also agree iTunes gift cards are bad?