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Joined 3 years ago
Cake day: June 10th, 2023
  • A closed blockchain doesn’t need or use expensive hashing nor is expensive hashing required for a public blockchain.

    Every rant about how blockchains are bad SQL databases is ignorant of the actual, novel uses of a decentralized blockchain and whatever system it uses as proof to find the current block’s validator.

    Blockchains allow for the synchronization of many actors up to the agreement of the majority of actors. They eliminate a class of corruption. Which is at least those where the authority over a log of data uses that authority to alter the log outside the will of the majority of those who use said log.

    You can make all the arguments you want about the usefulness of that ability, you can make arguments that the cost of adding that ability being too high vs the reward.

    You vague argued that its complicated and it wont end banks so its pointless. Neither of which is much of an argument. Also, the blockchain replaces central banks, not member banks.

    Is that worth doing? Likely not at the current state of the technology.