Blockchain

Use cases

    Event tracking

Different implementations:

    Proof of work
    Proof of state

Concerns:

    No customer service
    Losing private key
    Linking transactions
    Not instantaneous
    Writes Transaction speed
    Data that is stored off the chain
      If so few things are on chain, why even have blockchain.
    Size of the chain
    Benefits of blockchain requires decentralization. In order for decentralization, other people need to be incentivized for hosting.
      I don't think people would be incentivized to host.
    Scaling challenges of blockchain
      transactions per second
      size of the chain (in Gigabytes)
    Introduces complexity without reducing it
    Financial cost of Proof of Work
Chain
Transactions per Second
Size
Bitcoin
7 tx/s
197 GB (Jan 2019)
Etherium
25 tx/s
670 GB (Jan 2019) or 20 GB ...
Ripple
40,000 tx/s

Thoughts:

Block chain is a distributed social enterprise .
Block chain is about people wanting control. But they don’t realize how much control they have let go.
Individual vs group.
Requires good actors in all environment factors.
Blockchain is not used in the porn industry.

Implementing Blockchain

Requires you to think of:
    what is on chain, and what is off chain

Questions:

What can you prototype faster with blockchain?
When is trust broken?
    When one actor has more than 33% or 50% (depending on implementation) of the nodes
      Forks; Bitcoin Cash, Ethereum Classic, etc
    Requires adoption by all parties
      Including competitors, which will most likely not adopt your solution
    This is so new and complex, how can you be an expert at this?
Last modified 2yr ago