141–144 of 144 posts
Earlier quoted context omitted.
Blockchain in the sense of proof-of-work mining? A Merkle tree might make sense, signed updates might make sense, but I don't see that mining adds value in that use case.
PoW, besides being the simplest way to reach consensus, also allow for a fair distribution of new coins.
Earlier quoted context omitted.
Only if the setup needs to be zero-trust. Systems of correspondent banks etc. worked very well even in times where worldwide communication took weeks, and even today there are e.g. traditional Islamic money-transmission networks that operate extremely efficiently because they rely on trust.
True I’ve been reading the culture series lately so my vision was off a truly decentralized series of habitats. I could see a trustless ledger being a solution to them all wanting to trade currency etc but not necessarily being a single coherent group. Then again as I said I may just be reaching.
Earlier quoted context omitted.
> The claim was "provenance matters". Here's the full claim: "Provenance is a thing, so no. You're just some rando and nobody would care about your NFT." It turns out, that "some randos" have a jolly good time on NFT platforms selling stolen goods, and it's not an exception, considering how many of them are. NFTs provide exactly zero help with provenance that "matters". > tolen art isn't the norm, it's the exception,…
>and it's not an exception, considering how many of them are. Now let's have some numbers on how many legitimate mints/trades are made every day, and then this will be a useful comparison.
There is not one actual practical problem blockchains solve. It's a get rich quick / pyramid scheme built on top of a theoretical concept that appeals to nerds but doesn't work in the world we live in. The same issues persist, they're just packaged/framed differently - and, due to lack of regulation and norms to mitigate them in the real world, can still be exploited. People were complaining that Google eats up so ma…
>There is not one actual practical problem blockchains solve. Read the whitepaper; Bitcoin solves the problem of centralization of trust, fraud and it enables transparency. No more creative accounting and cooking the books. On top of that it enables microtransactions as small as faction of the cent. It is quite big innovation.