LBRY Block Explorer

LBRY Claims • ethereum-q-a-private-chains

c4be6d01422690fb24dafba86145754b5afc4a52

Published By
Created On
28 Apr 2020 00:39:22 UTC
Transaction ID
Cost
Safe for Work
Free
Yes
Ethereum Q&A: Private chains misunderstand the fundamental value of blockchains
Keywords/phrases: Private chains fundamentally misunderstand the value of open, decentralised, permissionless, borderless blockchains. It is akin to the horse buggy manufactures adapting automobiles by replacing the internal combustion engine with a horse. "But we really like the fundamental technology behind Automobile. Pneumatic tires will fundamentally transform the future of transportation." If you choose to do a private chain, you are re-introducing counter-party risk and removing the fundamental security mechanism of consensus, which brings back a lot of the old problems. The existing banking system is fundamentally constrained by two things: very large institutions with the inertia of centuries of tradition, and the guilded cage of regulations which have kept small competitors out and not allowed them to do what Bitcoin does. It will be difficult for them to reconcile their future with this new disruptive technology.

Want to hear more about Ethereum and open blockchains?
Follow on Twitter: @aantonop
Visit my website: https://antonopoulos.com/

Read more:
“Mastering Bitcoin” - https://www.bitcoinbook.info/
“The Internet of Money” - https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/1537000454

via OpenBazaar: ob://efece349f9830a6d6167c3bbc6ed3ce855277a8f (https://duosear.ch/efece349f9830a6d6167c3bbc6ed3ce855277a8f/listing/974a62586f0e48c53b7c19592f9ceb64a4b08e84)
...
https://www.youtube.com/watch?v=haKVaGHKQJM
Author
Content Type
Unspecified
video/mp4
Language
Unspecified
Open in LBRY

More from the publisher

VIDEO
WHAT
Controlling
VIDEO
BITCO
Controlling
VIDEO
INTRO
Controlling
VIDEO
BITCO
Controlling
VIDEO
BITCO
Controlling
VIDEO
INTER
Controlling
VIDEO
MARCH
Controlling
VIDEO
NEW B
Controlling
VIDEO
BITCO