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by dorfsmay 3115 days ago
"It’s absurdly expensive to mine blocks to store data indefinitely."

Is this true of all block chains or specific to bitcoin?

1 comments

If you don't have mining, or a similar way to decide between various possible forks, what you have is a cryptographically secured append-only ledger (such as what the git data-format resembles).

That's not a blockchain and that idea has existed for decades already.

I think that idea is now being called a "blockchain" since in reality the trustless/proof-of-work nature of a true blockchain is largely wasted for specific companies.

It's a blockchain if you have a directed linked list of blocks. Even git is to some extent blockchain.
That's a redefinition of what a blockchain is IMO.

That's definitely the definition some companies are operating under.. but really?

WALs and journals have existed for ages and both fit the definition of a directed list of blocks.

Hell, ext2 and FAT fit that definition (inodes forming a directed list of block-references).

I guess we all store our data on something that's technically a blockchain by your definition.

It's not a redefinition, it's a definition that has been around since the 1990's [0], the only requirement for a blockchain is A) directed linked list (block points to previous block) and B) cryptographic security (use hashes as block index)

Bitcoin is merely the first application to use Blockchain in a decentralized proof-of-work manner.

A git repository is a Merkle tree.

http://en.wikipedia.org/wiki/Merkle_tree

A bitcoin blockchain is also a Merlke tree.

But a git repository is not a blockchain.

It is a blockchain is you don't merge since you have a commit pointing at a previous commit, (block points to block), merges point to two parents but Ethereum has that almost with uncle blocks.

The commit log of a repo is almost certainly a blockchain, which is why I mentioned "to some extend"

You didn't include the reference link. The term "blockchain", as used these days, refers to the distributed system underlying cryptocurrencies.

That's not a thing that has existed since the 90s nor is it a thing with so few requirements.

The first paper on blockchains was published in January 1991 (revised/received in 1990) [0]

>The term "blockchain", as used these days, refers to the distributed system underlying cryptocurrencies.

That's how you prefer to use it but it doesn'T change how it's defined [1]

[0]: https://link.springer.com/article/10.1007/BF00196791

[1]: https://en.wikipedia.org/wiki/Blockchain