|
|
|
|
|
by dozzie
3241 days ago
|
|
First and foremost: blockchain, in its essence, is a document timestamping
service. As such, it allows somebody reading it to tell the order of arrival
of stored documents (documents themselves being unmodifiable, as they are
usually identified by content in cryptography). It just happens that ledger is a quite good fit for document timestamping, and
account balance can be used as a way to transfer money-like values (note that
it's not the only way; cryptographers have a history of developing digital
money systems). About the only thing new about blockchain is that it doesn't need a trusted
third party (system with rights and means to modify the data) to timestamp
documents to defend against adversarial modifications to the timestamps
stream. Anyway, anything that would use ordering of documents/messages could be built
on top of blockchain, but calculating proof-of-work is a very steep price to
pay for the defense against some of the participating servers being malicious,
given that enterprises happily trust regular databases that don't sign
cryptographically anything. |
|