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by acjohnson55
3156 days ago
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Your comment comes off as pretty angry, yet I don't really get the faults you're pointing out in the original article. > Blockchain does not solve consensus problem. It's a timestamping service. Not a consensus solver. Certainly Bitcoin seems to be a distributed consensus system. Is your complaint that it takes a whole system on top to provide the consensus aspect, which might be considered separate from the blockchain structure? > Why the hell would anybody think "proof of work" is a "solution to denial-of-service attacks"? Isn't it? You can exchange QoS for non-malicious users for protection from DoS. |
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> Certainly Bitcoin seems to be a distributed consensus system.
It is not. Bitcoin only tells which of the pair of documents was earlier (a document describes a single transaction). It doesn't allow to negotiate a value. If you swapped producing the proof of work with sending the transaction to a trusted third party for adding a timestamp, Bitcoin would work just as well. Go read "trusted timestamping" topic, Wikipedia has a good description.
>> Why the hell would anybody think "proof of work" is a "solution to denial-of-service attacks"?
> Isn't it?
What service does blockchain protect against availability disruption? How?