I want to see what you mean in practical terms, because the only other example that I know besides questionable crypto currencies is NFTs and that was an epic lesson on what not to do. 😅
There are other uses. Like making a system that is interconnected and resistant to hacking. For example an interconnected traffic light system that can prioritize transit/emergency vehicles could be managed by a block chain to ensure the system stays in sync with itself for traffic flow/prioirty while being resistant to hacking or malicious activity.
Because it’s a trustless system. In order to override the system you have to take over 50% of the nodes, and in large enough systems it’s infeasible to get that much compute power. This means that no one person or organization can actually control the destiny of the system, only the consensus can.
I can’t believe that here, in the fediverse of all places, we need to have a discussion about the benefits of having a system that corporations can’t control.
Ok explain to me the advantages of a decentralized traffic light system that controls public traffic on public streets?
What advantages does a blockchain traffic light system have over a centralized server controlled by those who are responsible for maintaining the physical hardware?
No, NFTs do have good uses, but things like image NFTs are just a misappropriation, like SPAM is to email.
One use case, is clear, independently verifiable ownership of non-tangible things, like Intellectual Property rights. Movie rights for a book adaptation for instance moving between companies in IP sales and mergers/acquisitions.
And it’s ALWAYS the same problem. You can have all the lists you want. A central authority has to recognize and enforce that list. At which point, the structure of your list is completely irrelevant. It could be ANY list. What matters is that it’s chosen to be enforced. And currently, most power structures are happy with plain old databases. Or pen and paper.
Crypto =/= blockchain.
If you can’t see the utility of blockchain with regards to things like actual, verifiable digital ownership, then I don’t know what to tell you.
I want to see what you mean in practical terms, because the only other example that I know besides questionable crypto currencies is NFTs and that was an epic lesson on what not to do. 😅
There are other uses. Like making a system that is interconnected and resistant to hacking. For example an interconnected traffic light system that can prioritize transit/emergency vehicles could be managed by a block chain to ensure the system stays in sync with itself for traffic flow/prioirty while being resistant to hacking or malicious activity.
How does adding more computers, more points of failure, make infrastructure less prone to exploitation?
Because it’s a trustless system. In order to override the system you have to take over 50% of the nodes, and in large enough systems it’s infeasible to get that much compute power. This means that no one person or organization can actually control the destiny of the system, only the consensus can.
I can’t believe that here, in the fediverse of all places, we need to have a discussion about the benefits of having a system that corporations can’t control.
Ok explain to me the advantages of a decentralized traffic light system that controls public traffic on public streets?
What advantages does a blockchain traffic light system have over a centralized server controlled by those who are responsible for maintaining the physical hardware?
No, NFTs do have good uses, but things like image NFTs are just a misappropriation, like SPAM is to email.
One use case, is clear, independently verifiable ownership of non-tangible things, like Intellectual Property rights. Movie rights for a book adaptation for instance moving between companies in IP sales and mergers/acquisitions.
And it’s ALWAYS the same problem. You can have all the lists you want. A central authority has to recognize and enforce that list. At which point, the structure of your list is completely irrelevant. It could be ANY list. What matters is that it’s chosen to be enforced. And currently, most power structures are happy with plain old databases. Or pen and paper.