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See PurpleRamen's comment above. Blockchain != cryptocurrency. For blockchain, there exist some good (and legitimate) applications. Cryptocoins otoh... lots o
by RetroTechie 3y ago
See PurpleRamen's comment above. Blockchain != cryptocurrency.
For blockchain, there exist some good (and legitimate) applications.
Cryptocoins otoh... lots of gray area there. If not outright Ponzi schemes.
I hope some day, some crypto coin(s) will fulfill their original promise. But that day is not today.
- talldayo 3y agoDistributed blockchain applications are normally unnecessary when they are used though, and absolutely overkill when applied with distributed proofs. Very often a network only needs a secured channel to operate, which can be established with much lower overhead than a blockchain. Currency seems to be the only application that would respect such extreme security measures, and that's really only highlighted the low throughput and capacity problems. I really do feel the same about blockchains as I do about cryptocurrency. Both have extremely limited applications that appear marketable and attractive to nerd-adjacent circles, but only show their drawbacks once fully invested. The intention behind creating a blockchain (or even some cryptocurrency) is pure in it's inception. The application of both technologies is so messy that I would recommend most people stick with simpler options.