For a long time, I thought of the blockchain as almost synonymous with cryptocurrencies, so as I saw stuff like “Odyssey” and “lbry” appearing and being “based on the blockchain”, my first thought was that it was another crypto scam. Then, I just got reminded of it and started looking more into it, and it just seemed like regular torrenting. For example, what’s the big innovation separating Odyssey from Peertube, which is also decentralized and also uses P2P? And what part of it does the blockchain really play, that couldn’t be done with regular P2P? More generally, and looking at the futur, does the blockchain offer new possibilities that the fediverse or pre-existing protocols don’t have?
The value is in the forward signed, immutable ledger written by neutral consensus. This can take a lot of form and be the backbone of many types of applications (and already is used by large firms), the current market for direct public ledgers is a mess and I don’t generally agree with much of the last craze beyond the fundamentals needed to manage transfers, ownership and executions. The applications that will use these kinds of networks haven’t really been built yet.
That’s a lot of words to say nothing. Like, you literally aren’t saying anything of substance.
The value is in the forward signed, immutable ledger written by neutral consensus. This can take a lot of form and be the backbone of many types of applications (and already is used by large firms), the current market for direct public ledgers is a mess and I don’t generally agree with much of the last craze beyond the fundamentals needed to manage transfers, ownership and executions.
All of that is word salad. Blockchain is 100% redundant technology that uses obscene amounts of electricity. Why do I need a network of computers around the globe to make sure a contract and checks get signed? Why does it require a global network of computers constantly refreshing themselves and checking for inconsistencies to implement new business? If the smartest minds on Earth actually can’t come up with a use case, then it’s trash.
Grifters love it.
Forward signed, immutable ledger - a dataset that is written and logged at time of write and validated using cryptographic signatures of the creator of that data and the node of the network responsible for the data. public systems use incentive systems to ensure unbiased writes, private systems work more like your typical app server.
neutral consensus - this is the p2p aspect, this is a bunch of unrelated actors promising to work toward an unrelated goal, in public systems this is done via some form of game theory, in private systems orgs working together have contract law and are more interested in the the controlled writing.
How it can take a lot of forms. Most people are just familiar with what the general public refers to as cryptocurrency. These are ledgers managed on p2p networks with the aforementioned game theory based consensus system. However ledgers are not required to do this, a ledger and even a blockchain can work without fees or even energy wasting miners, in these cases its usually the cryptographic write and channel messaging they want (some of these are a step up from AWS’s messaging stack).
Ledgers like this are used in many ways and used in large orgs around the world, what the public is angry at and what the technology is are very different things.
I hope I have “unsaladed things” for you
Blockchains come in many forms, the ones you are thinking of are what are called Proof of Work chains, these uses a kind of cryptographic race to secure thier data and use a TON of waste energy as a result. Def not a fan either.
The growing popularity and interest in chains is around forms of Proof Of Stake, these use other internal protocol mechanisms to secure the network and work to run the cryptographic functions as efficiently as possible. Unsurprisingly the fastest blockchains are proof of stake and power wise are similar to traditional applications in utilization.
You don’t need any of these networks if you don’t want to use them, fundamentally, they arent even networks, they are cryptographic messaging systems. How the data is sent and processed is incidental, you could work out a bitcoin block on pen and paper if you wanted. This concept has extended to a cryptographic tool called Zero Knowledge Proofs, these will be part of next generation identity verification systems and is a fundamental of the W3C standard around DiD, the whole point is for disconnected attestation.
Maybe this is my “too old for this shit” moment, but this all just sounds like convoluted non-sense that’s never going to go anywhere. We still have SMS and ATMs that run XP.
The value is in the forward signed, immutable ledger written by neutral consensus.
I have Excel spreadsheets at home though and you can be assured that they haven’t changed if you take a hash of them.
In fact, taking cryptographic hashes and signatures of people is automatic with Adobe signature products, and is how I signed for my house mortgage. You know, things that people really don’t want changing or someone doing shenanigans with. Just a click here and a send the .pdf over and… yeah, its not that hard in practice.
Signed, immutable proof of the transaction that nobody can manipulate. It also doesn’t require a legion of ASICs hashing numbers until the end of time. Because your “blockchain” is vulnerable to the 51% attack if the hashrate ever declines precipitously.
This is true, the fundamental of a blockchain is simply signed blocks of binary data. We can get into the debates on weather this can work in a public system like many groups are trying now, though I presume that that is not really what the poster is talking about since most public chains fundamentally rely on thier cryptocurrencies to to function, which for some is an argument as to why they can’t work.
My cryptographically signed .pdf for my mortgage document requires no cryptocoin or “blockchain” to function.
Its just simple hashing and signatures. You know, standard cryptography. The thing that allows “HTTPS” connections? The thing that signs your credit-card each time you enter it into Amazon? The thing that signs your password as you type it into the password field?
Yeah, that’s cryptography. Not “cryptocoins” or “blockchain”, its just a cryptographic hash, signature, or encryption.
https://lemmy.intai.tech/comment/578972
You can also look in my post history, ask away, I’m no fan of where public systems have gone and understand the anger, point is, these techs ARE being used already in corp systems and even if you dont use this crop of chains, you will likely be using a system like this in the future, even if you dont know it.
sorry, gpt said i could do better
A blockchain is like a special notebook that many people can write in. Once something is written, it cannot be changed, and everyone can check that it was written correctly. This notebook help different people or companies work together by writing down and sharing important information in a safe and secure way.
Some people use these special notebooks to make digital money like Bitcoin. But it’s just way to use them. Companies also use these notebooks for other things, like making sure their business runs smoothly and securely.
So, the blockchain is not just about digital money, but also a to help people and businesses work together safely and fairly.
Any sources in large firms using it? I haven’t seen anything other than generic marketing talk.
I can say of the top of my head the JPM and AMEX are running internal ledgers but there are many more, IBM and Accenture co-developed a system called Hyperledger which was given to the Linux Foundation. Its a tool kit for developing and deploying ledger applications primarily targeted at internal corps.
One of the cases these are good for is an easier to manage rights and asset control systems than many products you would pay more for and with less futzing with IAM, LADP or AD.
You don’t need a distributed untrusted consensus algo for internal ledgers. That’s trusted parties only.
Hyperledger is a private “blockchain”. I write blockchain in quotes because it’s not really a blockchain. There’s not really a distributed consensus in a private “blockchain”. It’s like taking the concept blockchain, and strips not only down the bad parts but also all the good parts.
Sure, there are multiple actors signing each entry, but who has elected these actors? A central authority of course!
It’s decentralised in the same way a git repo is decentralised. Mostly because Hyperledger is basically a git repo.
Most of the times when a company says they’re using blockchain, they’re either:
- using a private “blockchain”, which is not really a blockchain.
- not actually using blockchain, but say they do for marketing reasons.
- a Ponzi scheme.
So, if I get it, it’s like torrent, except instead of you manually verifying the hash code, each computer your file passes pay automatically checks and says “yup, the file I received and transmitted is the file I was supposed to receive and transmit” ?
pretty much, think of the files like what you would see in your .git folder for a code project. they are all linked together in a history graph. so you are validating the data, its position in history along with its entire history, you also know who changed the data and what systems were responsible for writing those changes. really solid tooling for provenance and chain-of-evidence scenarios.
I see, but if I’m not mistaken, git is anterior to the blockchain. What I’m asking here is what new things the blockchain brings to the table, that preexisting protocols like Git or P2P couldn’t do. Or is the blockchain just another application of the same principles (the Merkle chain, as a previous commenter was saying)? If so, what sets it appart ?
