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I really don't understand these arguments. "Blockchain" is a collection of technology but at its heart it's about byzantine-fault tolerant consensus and distrib
by baby 4y ago
I really don't understand these arguments. "Blockchain" is a collection of technology but at its heart it's about byzantine-fault tolerant consensus and distributed protocols.
I explain this here (https://cryptologie.net/article/555/my-friends-always-ask-me-what-the-heck-is-blockchain-its-simple-really/ https://cryptologie.net/article/555/my-friends-always-ask-me...) but if you're looking at it from the outside, you should see blockchain as
1) a distributed database: it is here to emulate a centralized system, like a central bank! and
2) a distributed database that works even in the presence of malicious actors, so like an international central bank that wants to operate across borders
There's nothing more than that, if you want to understand the technology in a financial scenario.
If you want to understand how this kind of technology can be useful outside of a financial scenario, think about the web PKI (which I wrote about here https://cryptologie.net/article/561/the-web-pki-20/ https://cryptologie.net/article/561/the-web-pki-20/) or protocols like certificate transparency and binary transparency, and how they could provide resistance against attacks (instead of detection of attacks) if they used a BFT consensus protocol.