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How is this kind of sidechain any better than just having your transactions recorded in a boring old private SQL database? The Axie Infinity hack suggests that
by pavlov 4y ago
How is this kind of sidechain any better than just having your transactions recorded in a boring old private SQL database?
The Axie Infinity hack suggests that these private chains are the worst of all worlds: they're effectively controlled by a single entity, but also far more susceptible to hacks than a well-understood traditional database. The blockchain part seems to be a pure marketing decoy that's worse than useless because it's actively harmful to customers.
- SentientAtom 4y agoYour question is just "what is the purpose of the blockchain" but with more words.
- tim333 4y agoI think seanhunter has got Binance Smart Chain a little wrong - it's just a fork of Ethereum with basically the same functions. There's a coin BNB which is like Eth and you can issue other tokens, NFTs etc on it.
- seanhunter 4y agoI said Binance Smart Chain was an Ethereum fork. My point is to move things from the eth mainnet to or from it you need a bridge, which, looking at this[1] looks like there is a bridge which they control. The problems I mentioned are intrinsic to bridges. [1] https://www.bnbchain.org/en/bridge https://www.bnbchain.org/en/bridge