this post was submitted on 07 Jul 2024
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So much for Blockchain's real life use cases (lemmy.ml)
submitted 4 months ago by whydudothatdrcrane@lemmy.ml to c/memes@lemmy.ml
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[–] PieMePlenty@lemmy.world 1 points 4 months ago

I mean, if one party pushes for use of blockchain, you'd just need to trust that specific system (algorithm, network..) and not explicitly the party pushing for it.

I also wouldn't call it power 'waste' since it does useful work - confirmation. It may be more inefficient compared to a centralized authority though. There are other ways of doing confirmations than proof-of-work as well, though each have their own drawbacks - just like a centralized system does,