Re:An NFT without a blockchain
by gfodor on Saturday December 18, 2021 @05:41PM
(#29609314)
It’s more than that. By it being on chain, it’s part of a permanent durable public ledger, meaning it can be consumed and verified now and in the future by any third party for any reason, without any orchestration, as long as that person has an internet connection.
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...and as long as that blockchain in particular is still in operation. Maintaining a blockchain is not cheap, therefore there is very real possibility that at some point in the future nobody is interested in maintaining it.
If only one person was interested in maintaining it, it would become rather cheap for them to continue mining blocks for it
though, of course , it wouldn’t really be secure at that point, as it would be relatively cheap to make a fork that outpaces them (assuming proof of work. In proof of stake I suppose they would become the only one with any stake?).
So, I’m not sure quite how this impacts your point?
If you're the only one mining, the blockchain can't perform its function. At this is point you're better off storing the data on a USB stick.
The function of being secure against attacks? Yes.
The function of continuing to handle transactions? It can do that fine I suppose.
There's only one real blockchain; the longest one. That's the whole point of the blockchain. It's a global solution. If someone's trying to sell you on parallel blockchains they're trying to scam you.