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> Is this really a blockchain? It’s not open. It’s not decentralized! > While the initial mechanism by which organizations can run a node and become a member of
by xiphias2 7y ago
> Is this really a blockchain? It’s not open. It’s not decentralized!
> While the initial mechanism by which organizations can run a node and become a member of the Libra Association, is definitely not as open as, say Bitcoin, where anyone can participate in the consensus algorithm, the Libra Blockchain is absolutely designed to be open.
They skip the first question: Libra is not a block chain. It uses Merkel tree accumulators for updating the state of the database, so it's definately not a block chain, it's just marketed as one.
- H8crilA 7y agoIt doesn't matter really. It's a political/financial experiment. Tech is of little relevance to the success.
- simplesleeper 7y agoDon't Merkle trees underpin bitcoin? Why does it disqualify it as a blockchain?
- simplesleeper 7y agowikipedia says - https://en.m.wikipedia.org/wiki/Blockchain https://en.m.wikipedia.org/wiki/Blockchain - that transaction data is generally represented by a merkle tree in block chains
- xiphias2 7y agoYes, the block of transactions is arranged in a Merkel tree, but that Merkel tree is finalized, chained to the previous block and secured by proof of work. Libra is changing the Merkel tree over time, it is never final, which is similar to pre-Bitcoin digital currencies.