Re:Why blockchain is not yet working (2018)
by GuB-42 on Sunday February 14, 2021 @03:32PM
(#26135987)
That's a question I asked myself a few times.
The fundamental part of a blockchain is that each block signs the previous block, making it very difficult to rewrite history. And it is exactly what git does.
We could implement a cryptocurrency on a git repository. Just commit and push 'I am X, here is the proof, send Y gitcoins to Z' whenever you want to do that.
The only thing git is lacking compared to say, bitcoin, is a builtin way to select the "origin" repository. In most git-based projects, there is a global consensus on a central location. In bitcoin, it is automatically selected based on who wasted to most computing power on a pointless cryptography problem.
The fundamental part of a blockchain is that each block signs the previous block, making it very difficult to rewrite history. And it is exactly what git does.
We could implement a cryptocurrency on a git repository. Just commit and push 'I am X, here is the proof, send Y gitcoins to Z' whenever you want to do that.
The only thing git is lacking compared to say, bitcoin, is a builtin way to select the "origin" repository. In most git-based projects, there is a global consensus on a central location. In bitcoin, it is automatically selected based on who wasted to most computing power on a pointless cryptography problem.