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I think this is a mischaracterization of what immutability is. Immutability means you can’t change history not that you can’t update state. If my utility compa
by PretzelPirate 5y ago
I think this is a mischaracterization of what immutability is.
Immutability means you can’t change history not that you can’t update state. If my utility company needs my new home address and they use a blockchain for some reason (maybe part of a near-realtime electricity payment system), I can always sign a transaction to associate my blockchain address with my new home address. Perhaps the electricity equipment itself can sign my signature to ensure that I am physically located with it and have authority to change who it’s representing.
- gitfan86 5y agoIf you have your keys then yes, you can sign a new transaction. But what happens if you lost your keys and no central authority has the ability to change your address?
- notreallyserio 5y agoAnd perhaps worse, what happens if someone steals/copies your private key (say your paper backup) and signs a change of address in your name? Can you convince authorities that you didn't actually make the change? Maybe if it is a physical address. After all, you presumably live there. But what if it's just some payment contract? As far as they care you yourself signed it, and they have the proof. If you can get them to cancel the contract, what was the point of using blockchain anyway?