6 ms·
> it’s unfortunate that “blockchain” is apparently synonymous with proof of work cryptocurrencies and NFTs What else would it mean? Supposedly "trustless" con
by floatboth 5y ago
> it’s unfortunate that “blockchain” is apparently synonymous with proof of work cryptocurrencies and NFTs
What else would it mean?
Supposedly "trustless" consensus systems is what all the "blockchain" hype is about. (And those are only useful for censorship-resistant money. For literally everything else you don't need them and they don't even work.)
If you were to just talk about merkle trees / hash chains or anything else that's literally "chaining blocks"… well that doesn't need a buzzword. That's not new technology.
- barsonme 5y agoA blockchain is "just" a fancy hash chain, or a hash chain with rules. Take your pick. Blockchains provide a cryptographic ordering of events, or cryptographically agreed upon state, which is a useful property. It's certainly not as world-changing as a lot of blockchain-enthusiast-cryptocurrency-bros think, but it's not "only useful for censorship-resistant money." Which is why I think it's a shame that blockchain has become synonymous with proof of work cryptocurrency scams.