csolisr@communities.azkware.net 1 year ago
Blockchains are only useful in cases where non-repudiability (the ability to prevent users from denying that an event happened) is more important than any other factor. And there are preciously few cases where this is the case, the vast majority being related to audit - tracking receipts, votes, certificates, or similar attestations in an environment where no single party can be trusted. Disclaimer, I’ve worked in the past in projects related to the aforementioned - fortunately all of them related to the field of audit.
interolivary@beehaw.org 1 year ago
Notabaly most of these use cases don’t probably benefit from a public ledger though, in the sense that anyone with enough stake / hardware could be a validator. Exposes you to way too much uncertainty about whether validators will screw you over with Maximal Extractable Value tomfoolery
csolisr@communities.azkware.net 1 year ago
Fair enough that! I’m surprised to see so few companies saving up their money and processing time, and just using a private distributed ledger among all parties (plus maybe an arbiter node or two). Probably because Ethereum is better supported commercially (guess why!)
interolivary@beehaw.org 1 year ago
You can run Ethereum in PoA mode though, or at least it used to be possible but I dunno whether they’ve kept the option around (probably?) I think the problem is that many people who set these systems up don’t even know that’s possible, or they’re distribution maximalists who balk at the idea of having a private blockchain where some “higher authority” (gasp!) says who can validate blocks and it’s not just based on how much ETH you have.