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people constantly see blockchain as a currency replacement. while this is a consequence it is not its raison d'etre. instead it is a decentralized, bank-less, a
by medo-bear 4y ago
people constantly see blockchain as a currency replacement. while this is a consequence it is not its raison d'etre. instead it is a decentralized, bank-less, accounting mechanism with its own denomination. it is up to you if you see value in this or not. i personally see value in being able to move my assets with involvement of a minimal (preferably but not necessarily 0) number of third parties
- pfisherman 4y agoMy understanding is that a blockchain is a distributed, publicly inspectable, append-only database is IRB some special properties. Is that not accurate?
- cuteboy19 4y agothere is no incentive to run it without the currency part. you water it down further and it just becomes git
- medo-bear 4y agoyes or any vc, or an incoming/outgoings journal, or a bank account ... except ... trustless and decentralized
- cuteboy19 4y agoI mean git is also trustless and decentralised
- medo-bear 4y agogit is trustless to the extent of vc purposes. it is not trustless to the level of financial accounting. for example git has no concept of double spending, while in a blockchain there is (usually?) no concept of branching and merging. but you are right in that they are both based on merkle trees
- cuteboy19 4y agoDouble spending avoidance cannot happen without a financial incentive ie currency is what I meant
- medo-bear 4y ago> Double spending avoidance cannot happen without a financial incentive ie currency the incentive (reward) is to make decentralized and trustless booking keeping possible, not the other way around