this post was submitted on 09 Mar 2024
1299 points (94.2% liked)
Lemmy Shitpost
26926 readers
3781 users here now
Welcome to Lemmy Shitpost. Here you can shitpost to your hearts content.
Anything and everything goes. Memes, Jokes, Vents and Banter. Though we still have to comply with lemmy.world instance rules. So behave!
Rules:
1. Be Respectful
Refrain from using harmful language pertaining to a protected characteristic: e.g. race, gender, sexuality, disability or religion.
Refrain from being argumentative when responding or commenting to posts/replies. Personal attacks are not welcome here.
...
2. No Illegal Content
Content that violates the law. Any post/comment found to be in breach of common law will be removed and given to the authorities if required.
That means:
-No promoting violence/threats against any individuals
-No CSA content or Revenge Porn
-No sharing private/personal information (Doxxing)
...
3. No Spam
Posting the same post, no matter the intent is against the rules.
-If you have posted content, please refrain from re-posting said content within this community.
-Do not spam posts with intent to harass, annoy, bully, advertise, scam or harm this community.
-No posting Scams/Advertisements/Phishing Links/IP Grabbers
-No Bots, Bots will be banned from the community.
...
4. No Porn/Explicit
Content
-Do not post explicit content. Lemmy.World is not the instance for NSFW content.
-Do not post Gore or Shock Content.
...
5. No Enciting Harassment,
Brigading, Doxxing or Witch Hunts
-Do not Brigade other Communities
-No calls to action against other communities/users within Lemmy or outside of Lemmy.
-No Witch Hunts against users/communities.
-No content that harasses members within or outside of the community.
...
6. NSFW should be behind NSFW tags.
-Content that is NSFW should be behind NSFW tags.
-Content that might be distressing should be kept behind NSFW tags.
...
If you see content that is a breach of the rules, please flag and report the comment and a moderator will take action where they can.
Also check out:
Partnered Communities:
1.Memes
10.LinuxMemes (Linux themed memes)
Reach out to
All communities included on the sidebar are to be made in compliance with the instance rules. Striker
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
OK but there are actually great uses for blockchain that are completely disconnected from anything you typically see
For example, banks may begin using blockchain for maintaining their internal ledgers. It will help solve a ton of issues around reconciling the transactions from all over the globe
Blockchain has reasonable uses. Really good ones. Crypto and nft bros just completely ruined the image of it
EDIT: I love all the comments demonstrating how little people understand about blockchain. Bitcoin was not the first blockchain, nor is its design the only type of blockchain. Assuming that all blockchain looks like the crypto/nft paradigm is just showing your ignorance.
https://www.vice.com/en/article/j5nzx4/what-was-the-first-blockchain
Blockchain is only potentially useful if there’s no single entity that can be trusted. If banks can’t even trust themselves to manage their own internal ledgers, they have much bigger problems to deal with.
Trustless systems aren’t a bad thing that has to step in when the good thing fails. Trustless systems are inherently better because you don’t have to trust a bank (or anyone for that matter).
Additionally, ledgers can be gamed/corrupted/falsified. This is significantly more complex (bordering on impossible) on the blockchain.
https://youtu.be/bBC-nXj3Ng4
There are often easier, more reliable, and far cheaper ways to achieve the same things without using a blockchain. Some of the principles are even used in normal web browsing to ensure secure untampered connections.
Blockchain just solves a subproblem that only arises when there’s no appointed central entity.
Cryptocurrency Ledgers can be corrupted?
I was hedging against a particularly snarky commenter showing up. You can do a 51% attack and theoretically corrupt it. In practice, that’s much more difficult.
You dont need 51% attack to corrupt a ledger. Just enter incorrect info and the ledger is wrong. Not a damn thing a blockchain can do about that. Same issue is with any trustless system where you have to trust someone to input the correct info/do the agreed thing/ship the ordered physical item.
The concept behind cryptocurrency is that the ledger is the info, because you’re right, a half-assed blockchain ledger used for external (e.g. cash) transactions doesn’t really solve the root problem. Proof of work is fucking stupid though, and it has (rightfully) ruined the perception of blockchain technology among those who can see past their own crypto wallet.
Blockchain has been around as a technology for nearly two decades. If financial institutions thought it could help them you can bet they would be all-in on it by now. As it is, blockchain has no significant advantages over traditional financial ledger systems, so what incentive is there for them to use it.
It's not something new or cutting edge any more, just waiting for a bright spark to discover the technology and put it to use.
How is the blockchain different from a read only ( write only once to be specific) DB that follows ACID?
Blockchains add cryptographic signing and limit actions based on those signatures.
Why would you want the computational power of a bank system have anything to do with whether it's ledger is correct?
Yeah let’s use the computing power of an entire country to pay for a small coffee.
While that is an inherent component of how proof-of-work cryptos work, and utterly stupid, it's not an inherent part of how to do blockchains.
You can have a blockchain without consuming stupid amounts of energy.
Yeah it's called a database....
There aren’t a lot of distributed databases with no single owner and all writes are signed.
Yeah, but not having an owner is actually a fucking terrible thing for a banking system, how do you not grasp this?