Blockchains are the new Linux, not the new Internet

Re:Blockchains are the new Linux, not the new Internet by runeks on Sunday May 28, 2017 @03:18PM (#14435684)

What offers distributed consensus is proof-of-work, not blockchains themselves. The append-only list of blocks, that is a blockchain, is designed the way it is such that past blocks accumulate work performed on later blocks.

And the only "digital good" a blockchain can make scarce is the token which exists on the blockchain itself, which is completely useless unless it's supposed to act as a store of value. And, arguably, if a blockchain token is valuable because it's scarce, it makes little sense to have an unlimited number of blockchains even if each of them only have a limited number of tokens.

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Re:Blockchains are the new Linux, not the new Internet by paulrd on Sunday May 28, 2017 @08:26PM (#14436737)

Yes, but block chains are also integral to proof-of-stake or general byzantine fault-tolerant consensus algorithms. Do you mind me asking: Do you have a lot invested in Bitcoin?

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Re:Blockchains are the new Linux, not the new Internet by TD-Linux on Sunday May 28, 2017 @11:57PM (#14437329)

I don't know of any working non-proof-of-work cryptocurrencies ("byzantine fault-tolerant" sounds like a federated or centralized system to me, hardly a cryptocurrency IMO).

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