Proof of work
Proof of state
No customer service
Losing private key
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
Transactions per Second
197 GB (Jan 2019)
670 GB (Jan 2019) or 20 GB ...
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.
Requires you to think of:
what is on chain, and what is off chain
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?