Re:Coinbase is rescinding already-accepted job offers
by hiq on Sunday June 05, 2022 @12:46PM
(#31632616)
As the other commenters have pointed out already, it seems to be a permissioned blockchain if anything, exactly what Schneier describes as already having existed for decades, nothing new, just marketing.
In particular it's not about having many trusted participants, it's about being public without any trust (from the blog post: "This ledger is public, meaning that anyone can read it").
Re:Coinbase is rescinding already-accepted job offers
by mlyle on Sunday June 05, 2022 @01:33PM
(#31633078)
Again, I never said "blockchain is here to stay"-- just distributed ledgers. And, yes, distributed ledgers have existed forever, but their use by market participants at arm's length is new, as are many new tools we can use to build useful distributed ledgers (including blockchains!).
Liink appears to have all three elements Schneier describes-- an immutable ledger distributed over many participants that any of the participants can read; the ETH consensus algorithm; and the third is a US-dollar backed stablecoin.
> In general, they have some external limitation on who can interact with the blockchain and its features.
Yes, there's a limited number of participants with varying degrees of mutual trust. So this criticism is accurate, but I don't find the actual mechanism you get worthless.
In any case, note that what I said was not that blockchain was here to stay, but distributed ledgers. So even if one got rid of the specific consensus algorithm and the value token, you'd still have a distributed ledger.