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Re:Wall Street rethinks blockchain projects as euphoria meet... by JumpCrisscross on Thursday March 29, 2018 @11:56AM (#16708061)
I think this paper [1] made a decent case for permissioned blockchains (i.e. "where the participants are limited to a predefined set") in cases where one must store state, accommodate multiple writers who do not trust each other and does not have access to an always-online trusted third party. The number of cases where the final condition applies is small, but positive.

[1] https://eprint.iacr.org/2017/375.pdf

Re:Wall Street rethinks blockchain projects as euphoria meet... by darawk on Thursday March 29, 2018 @12:04PM (#16708126)
> cases where one must store state, accommodate multiple writers who do not trust each other and does not have access to an always-online trusted third party

Ya, that's distributed adversarial consensus. Decentralized currencies are an excellent instance of such conditions. They really are a useful and interesting application. That doesn't mean they deserve all this hype in the form of investment from the average person, but if they weren't so hyped, they'd have a serious use-case as a world reserve currency and they'd make a very nice international settlement layer. Because all of the countries in the world would know that the currency was politically neutral. I think that's a pretty sweet/useful property to have.

There are definitely a few other cases where adversarial consensus problems exist too. I think decentralized prediction markets are a pretty great application of smart contracts, for instance. But yes, a lot of these things are way way over-hyped and being pushed for things way beyond their useful scope.

Re:Wall Street rethinks blockchain projects as euphoria meet... by kirillseva on Thursday March 29, 2018 @05:02PM (#16710994)
Right now such currency is USD, with the Fed acting as a trusted third party. That's one of the reasons why other countries are investing in "blockchain technology", whatever that entails
Re:Wall Street rethinks blockchain projects as euphoria meet... by icebraining on Thursday March 29, 2018 @12:31PM (#16708391)
The Blockchain is a clever combination of two preexisting concepts: distributed merkel trees, and a consensus algorithm. If you remove one of them, you no longer have a Blockchain, you just have one of its preexisting components.

"Permissioned blockchains" is like someone thought "what if we took the radios out of cellphones and connected them by cables" and proceeded to call that a brand new invention.

Re:Wall Street rethinks blockchain projects as euphoria meet... by darawk on Thursday March 29, 2018 @12:43PM (#16708509)
That's not actually true. Git is a blockchain, for instance. Permissioned blockchains are a real thing. Even centralized blockchains can be useful (e.g. a government publishing property record transactions, the blockchain aspect would be useful to ensure retroactive modifications weren't made, even if the gov. was still in full control of the chain itself).
Re:Wall Street rethinks blockchain projects as euphoria meet... by icebraining on Thursday March 29, 2018 @12:52PM (#16708595)
No, they're just merkel trees! The attempt to co-opt them to make "blockchains" seem more useful than they really are - and to justify all the money dumped in these projects - is disgraceful.