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In what sense are they "blockchains" (as understood in the "crypto" sense) if they are not de-centrally written to? Is there proof of work? Distributed consensu

by PKop 4y ago

In what sense are they "blockchains" (as understood in the "crypto" sense) if they are not de-centrally written to? Is there proof of work? Distributed consensus? Can the public read entries from the ledger and verify something cryptographically? Who is the arbiter of truth in private/business blockchain? Public blockchains that produce currencies reward operators of nodes with a token that is self-contained within the system. How does any of this map to private/business chains, or any other "blockchain" that is somehow mapping some truth state external to the chain into it? It seems these words are thrown around without any meaning, for marketing purposes.

ghaff 4y ago
>as understood in the "crypto" sense The two only share some characteristics. It's sort of unfortunate that blockchain was ever used as a term for business distributed ledgers. The Hyperledger Foundation has a ton of material online. (As do many others.) Proof of work is not used. The ledger is typically not open to the public or only to a limited degree. There are various other consensus mechanisms depending upon the requirements.