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by spookthesunset 2919 days ago
> With a SQL database, how do you achieve consensus on a proposed transaction without a middleman taking an arbitrary cut of the proceeds?

Um, there is still a middleman taking a cut with Satoshi's Glorious Blockchain. It's called transaction fees and they go to the miners who piss away small countries worth of electricity in order to validate a pathetically small number of transactions. You didn't think proof of work was free, right?
1 comments
proofofmoon 2919 days ago
No reasonable industry would use Bitcoin's proof of work to transact between <10 semi-trustworthy parties.

We're talking about private, permissioned blockchains.

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inimino 2919 days ago
> permissioned

I.e. "trusted". So what does this bring over existing consensus algorithms, besides the "blockchain" buzzword hype?

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proofofmoon 2919 days ago
Which ones are you thinking of? They should support immutability and auditability as first-class citizens while being resistant to third-party manipulation/coercion.
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