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Blockchain has extremely limited use cases (especially when compared to the hype), but it is great to see that it is resulting in widespread interest in applied
by all_blue_chucks 6y ago
Blockchain has extremely limited use cases (especially when compared to the hype), but it is great to see that it is resulting in widespread interest in applied cryptography in general.
- gauthamzz 6y agoA lot of the limited ones which exists are for high volume transactions, so it matters a lot more than we think. But the hype is sometime way too much.
- all_blue_chucks 6y agoThe entire point of proof-of-work cryptography is to make things slower, and blockchain is built on proof-of-work, so yeah, applications are limited to situations where slowness is a feature. That's very few situations. But there is an entire world of crypto outside of proof-of-work and I'm glad people are more interested in these more useful parts of crypto now.
- nyolfen 6y agopeople said this kind of thing about computers, the web, etc at some point; blockchains solve previously intractable coordination problems, we ain’t seen nothin yet
- acdha 6y agoWe’re over a decade in and there’s no evidence supporting your assertion: almost nobody would have an impact on their daily life if blockchains suddenly disappeared. In 10 years, the web went from a curiosity at CERN to transforming the global economy, and blockchain applications have much lower barriers to entry than 1990s computer hardware or network pricing. Digital computing went from Alan Turing’s papers to being a decisive factor in WWII over the same period, and similarly had much greater entry requirements.
- all_blue_chucks 6y agoIf the solution to your problem is to trust whomever has the most hashing power, AND you don't care about speed, blockchain is perfect. I agree. For all other use cases it is probably the slowest and least trustworthy database you could choose.