Re:Building for the Blockchain
by rrecuero on Tuesday January 09, 2018 @01:40PM
(#16108560)
The main benefit of blockchain is that it is trustless and censorship-resistant. You don't need to trust any business entities. You can transact with someone in a zero trust environment on the other side of the world
[ Parent
| on HN ]
Just because you use a blockchain doesn't make your implementation trustless, nor censorship resistant.
Re:Building for the Blockchain
by ruiquelhas on Tuesday January 09, 2018 @06:41PM
(#16111231)
Actually, according to the original definition - https://github.com/trottier/original-bitcoin/blob/92ee8d9a99... - it does, since blockchain is bitcoin (and vice-versa), and as far as anyone can tell, currently it is indeed trustless and censorship resistant.
The problem is that some people adopted blockchain as some kind of weird gimmick to wrap extraordinary claims such as the ones in the original post and promote scams (altcoins, appcoins, whatever).
Not sure about censorship-resistance. Bitcoin transactions can be traced back to some identity, especially if the payer's Bitcoins were originally funded with fiat currency that came from the banking system.
Re:Building for the Blockchain
by ruiquelhas on Tuesday January 09, 2018 @06:45PM
(#16111249)
That does not say anything about censorship resistance, because it does not mean the transactions can be reversed (on the contrary).
That's a problem of anonymity (or lack thereof).