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A comment on Wall Street rethinks blockchain projects as euphoria meets reality. Parent comment

Re:Wall Street rethinks blockchain projects as euphoria meet... by simias on Thursday March 29, 2018 @12:05PM (#16708135)
Why is it not? It's slow, expensive and wasteful. You could host a regular MySQL on commodity hardware that could handle ten times the rate of transactions of the bitcoin blockchain. You could publish signed dumps publicly for people to replicate and monitor as they see fit.

The only interesting feature of bitcoin is the trustless consensus but it's not as useful or revolutionary as the hype would have you believe. In particular it's only working as intended as long as you remain withing the digital world, as soon as meatspace is involved you need trusted third parties and arbiters. "Blochain technology" whatever that is, is a solution in search of a problem.

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Re:Wall Street rethinks blockchain projects as euphoria meet... by Nuzzerino on Thursday March 29, 2018 @04:01PM (#16710553)
I guess you've never heard of CQRS then. Blockchains are not on-demand databases, but rather sources of truth from which derived, queryable databases can be constructed.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by simias on Thursday March 29, 2018 @04:25PM (#16710737)
I fail to see the relevance of your comment.

>Command Query Responsibility Segregation is a software pattern that divides the system into two distinct parts, an append-optimised command side and a read-optimised query side.

My point was about the "append-optimised" part. Of course the blockchain can be arbitrarily fast to query but you can only make about 5 transactions (or "inserts") per second on the bitcoin blockchain on average. Not very impressive as far as DBs are concerned.

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Re:Wall Street rethinks blockchain projects as euphoria meet... by darawk on Friday March 30, 2018 @02:06PM (#16718423)
CQRS is great. But you can implement it very efficiently using standard logging techniques. Blockchains are just a slow, inefficient implementation of CQRS.
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