Re:Ask HN: Why Prefer Blockchain over Distributed DBs?
by jqpabc123 on Sunday May 01, 2022 @09:22AM
(#31224819)
But then why would it make sense for them to use for private companies, banks etc.
In most cases it doesn't. For the most part, it is a solution in search of a problem.
Blockchain is a horribly inefficient write once database.
It basically trades efficiency for decentralization.
The obvious problem is who pays for this inefficiency. If a central authority pays, any "decentralization" is just a ruse.
The only practical way found thus far to pay and still maintain any real decentralization is by minting money --- crypto. Unless you are or want to be involved with crypto, you probably don't need blockchain.
In most cases it doesn't. For the most part, it is a solution in search of a problem.
Blockchain is a horribly inefficient write once database. It basically trades efficiency for decentralization.
The obvious problem is who pays for this inefficiency. If a central authority pays, any "decentralization" is just a ruse.
The only practical way found thus far to pay and still maintain any real decentralization is by minting money --- crypto. Unless you are or want to be involved with crypto, you probably don't need blockchain.