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I'm a big proponent of blockchain. But technically blockchain is overkill for this application. At least for non-exclusive perpetual licenses, like the stock ph
by dcolkitt 5y ago
I'm a big proponent of blockchain. But technically blockchain is overkill for this application. At least for non-exclusive perpetual licenses, like the stock photo example.
Blockchain gives you three things. 1) Censorship resistance (no one can "lose" or forget about the license). 2) Protections against mis-spend (no one without the private keys can grant the license). And 3) Protection against double-spend (in the case of two grants, we have a universally agreed upon history of which came first).
A non-exclusive license only requires the first two. You can satisfy the problem with digital signatures and a censorship-resistant P2P file share like IPFS. Comparatively putting data on the blockchain is fairly expensive. Even with sharding O(log(n)) nodes have to store the data, whereas with IPFS only O(1) do. On Ethereum, every kB of storage costs around $5. If you don't need canonical sequencing of history, then blockchain is probably overkill.
- dbmikus 5y agoTransferring ownership of an NFT would not work just with digital signatures and IPFS, though. I could sign a transaction saying "I transfer this NFT to you", but unless you trust me or some authority, you have no guarantee than I don't just resign it and transfer to someone else as well.