You guys are awesome! I really appreciate your high quality answers.
Well, if Blockchain can be implemented without proof-of-work/stake then they doesn't even have to use blockchain at first place, they can just develop their own secured chain of blocks right?! --assuming they can decentralize it somehow
Please correct me if I'm wrong, what I understand reading was that secured blocks where being developed since 1991, what I still not getting is why companies are suddenly popping interest so late. Almost a 17 years gap, was is just a mater of effort to develop or a major issue that couldn't be solved before?
I'm not familiar with the secured blocks research you mentioned, so I can't really comment on that.
As to the current interest in blockchains, I expect it is mostly due to the popularity of bitcoin. Something similar happened with second life. Managers who make investment decisions are not necessarily tech-savvy enough to make a personal evaluation of new technology, so they essentially have only market trends to go by. I expect we are currently experiencing some hype, some criminal abuse and some genuine use-cases, although it is difficult to say how much each factor is contributing.
Well, if Blockchain can be implemented without proof-of-work/stake then they doesn't even have to use blockchain at first place, they can just develop their own secured chain of blocks right?! --assuming they can decentralize it somehow
I would say approaches such as proof-of-stake and proof-of-burn are things developed as 'their own secured chain of blocks'. I may not have been clear on this, but costs incurred by both methods only exist in the blockchain, they have negligible electric costs.
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Got it!
You guys are awesome! I really appreciate your high quality answers.
Well, if Blockchain can be implemented without proof-of-work/stake then they doesn't even have to use blockchain at first place, they can just develop their own secured chain of blocks right?! --assuming they can decentralize it somehow
Please correct me if I'm wrong, what I understand reading was that secured blocks where being developed since 1991, what I still not getting is why companies are suddenly popping interest so late. Almost a 17 years gap, was is just a mater of effort to develop or a major issue that couldn't be solved before?
I'm not familiar with the secured blocks research you mentioned, so I can't really comment on that.
As to the current interest in blockchains, I expect it is mostly due to the popularity of bitcoin. Something similar happened with second life. Managers who make investment decisions are not necessarily tech-savvy enough to make a personal evaluation of new technology, so they essentially have only market trends to go by. I expect we are currently experiencing some hype, some criminal abuse and some genuine use-cases, although it is difficult to say how much each factor is contributing.
I would say approaches such as proof-of-stake and proof-of-burn are things developed as 'their own secured chain of blocks'. I may not have been clear on this, but costs incurred by both methods only exist in the blockchain, they have negligible electric costs.