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by sanswork 3837 days ago
You can have a shared log between multiple parties where no one entity controls new entries with immutability and known entry ordering.

Private blockchains don't need to be as inefficient as cryptocurrencies either because they can have a very small, specific use case and feature set.
1 comments
brighton36 3837 days ago
Doesn't http do this just fine? If you trust each other - there's no need for a blockchain.
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sanswork 3837 days ago
How does http do this at all? Unless you're talking about each company running an API? But then you run into difficulty with actually trading debt. Say you owe me $10 and I owe Bank B $10 and they owe you $10. With a blockchain situations like that are easy to spot and automatically resolve saving the number of required settlements.

The point is that you don't have to trust each other since everything is in the open and shared between participants.

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brighton36 3837 days ago
> Ok and what does the html page do to solve the problem?

You should check out archive.org. You'd be amazed how much better a job it does at retaining records than blockchain.

> You seem to be a pretty big fan of bitcoin. I've noticed a huge blindspot in bitcoin proponents when it comes to private chains almost like they are threatened by them.

Because blockchains are bad at this, and most of us are in a position to know that.

> Bitcoin was never going to win the markets/use cases

Agreed

> private chains make sense in

Not compared to databases. Do you know when NYSE and Nasdaq will switch to a blockchain? The answer is 'never'

> Bitcoin went the way of ultra generalisation which has resulted in it being pretty much worse than everything else for everything else.

Agreed.

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sanswork 3837 days ago
Heads up but if you click on the timestamp you can reply before the button appears.

I understand what archive.org can do I'm asking how it can help solve the situation I described? You have your web page with what on it exactly? How does that help cut down settlement requirements?

Also archive.org is centralized so all the participants would have to trust them. The people investigating blockchain alternatives are looking for ways around that.

>Because blockchains are bad at this, and most of us are in a position to know that.

But they aren't. Bitcoin is bad at it but that doesn't mean blockchains have to be it just means they will be if you go into the problem with bitcoin as your only toolset. One you remove the need for PoW they are barely any more inefficient than a master-master DB with the combination of immutability and known entry ordering.

>Not compared to databases. Do you know when NYSE and Nasdaq will switch to a blockchain? The answer is 'never'

Did I say it was better than databases for every usecase? The NYSE and Nasdaq are already centally trusted figures. There is little benefit they would get from a blockchain.

I gave you a use case a few posts ago.

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brighton36 3836 days ago
> One you remove the need for PoW they are barely any more inefficient than a master-master DB with the combination of immutability and known entry ordering.

Once you remove the PoW - it's no longer a blockchain. That is what a blockchain is. If you believe that blockchain's don't require PoW - then off the bat you have major security problems. But in addition to that - your definition of blockchains would mean that we've been using blockchains since the 80's

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sanswork 3836 days ago
So you don't consider PoS systems blockchains?

PoW literally has nothing to do with what the blockchain is only in deciding who can add the next block and there are a lot of ways to do that when you know all the participants.

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brighton36 3837 days ago
You publish a html page. Or better still - your broker does.

Settlement is a deep market, and it works very well. Is it your belief that the errors in settlement are due to sql servers losing data?

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sanswork 3837 days ago
Ok and what does the html page do to solve the problem?

I'm not talking about correcting errors in settlement I'm talking about removing the need for settlement.

You seem to be a pretty big fan of bitcoin. I've noticed a huge blindspot in bitcoin proponents when it comes to private chains almost like they are threatened by them.

Bitcoin was never going to win the markets/use cases private chains make sense in. Bitcoin went the way of ultra generalisation which has resulted in it being pretty much worse than everything else for everything else. But it can do lots of things. Just not well.

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zardeh 3837 days ago
Who said you trusted each other?
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brighton36 3837 days ago
Overstock did when they said they'd use a centrally managed system.
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