3 ms·
Decentralization is an important enough property of a blockchain, that it could be argued that a blockchain without decentralization is not a blockchain. Banks
by not_really 4y ago
Decentralization is an important enough property of a blockchain, that it could be argued that a blockchain without decentralization is not a blockchain.
Banks, governments, and even Facebook continue to come up with "federated blockchains", boasting fast transaction times and private data, but butchered consensus mechanisms.
At the end of the day, they are using an expensive database that in some way or other defeats the point of using a blockchain.
- 0des 4y agoblockchain has nothing to do with any of this. it is just serialized mutually dependent hashes, as the paper suggested originally.
- verdverm 4y agoNot everyone uses "blockchain" as only for the public-permissionless type. Much like we have to accept that "crypto" now mainly refers to shitcoins, the crypto community will have to accept that "blockchain" has a wider meaning for most people. It's not as if public-permissionless blockchains are all that decentralized, so the bar is pretty low on that measure.