Is the blockchain an interesting innovation, aside from cryptocurrencies ?

https://sh.itjust.works/post/1769509

Is the blockchain an interesting innovation, aside from cryptocurrencies ? - sh.itjust.works

For a long time, I thought of the blockchain as almost synonymous with cryptocurrencies, so as I saw stuff like “Odyssey” and “lbry” appearing and being “based on the blockchain”, my first thought was that it was another crypto scam. Then, I just got reminded of it and started looking more into it, and it just seemed like regular torrenting. For example, what’s the big innovation separating Odyssey from Peertube, which is also decentralized and also uses P2P? And what part of it does the blockchain really play, that couldn’t be done with regular P2P? More generally, and looking at the futur, does the blockchain offer new possibilities that the fediverse or pre-existing protocols don’t have?

The value is in the forward signed, immutable ledger written by neutral consensus. This can take a lot of form and be the backbone of many types of applications (and already is used by large firms), the current market for direct public ledgers is a mess and I don’t generally agree with much of the last craze beyond the fundamentals needed to manage transfers, ownership and executions. The applications that will use these kinds of networks haven’t really been built yet.

That’s a lot of words to say nothing. Like, you literally aren’t saying anything of substance.

The value is in the forward signed, immutable ledger written by neutral consensus. This can take a lot of form and be the backbone of many types of applications (and already is used by large firms), the current market for direct public ledgers is a mess and I don’t generally agree with much of the last craze beyond the fundamentals needed to manage transfers, ownership and executions.

All of that is word salad.

Forward signed, immutable ledger - a dataset that is written and logged at time of write and validated using cryptographic signatures of the creator of that data and the node of the network responsible for the data. public systems use incentive systems to ensure unbiased writes, private systems work more like your typical app server.

neutral consensus - this is the p2p aspect, this is a bunch of unrelated actors promising to work toward an unrelated goal, in public systems this is done via some form of game theory, in private systems orgs working together have contract law and are more interested in the the controlled writing.

How it can take a lot of forms. Most people are just familiar with what the general public refers to as cryptocurrency. These are ledgers managed on p2p networks with the aforementioned game theory based consensus system. However ledgers are not required to do this, a ledger and even a blockchain can work without fees or even energy wasting miners, in these cases its usually the cryptographic write and channel messaging they want (some of these are a step up from AWS’s messaging stack).

Ledgers like this are used in many ways and used in large orgs around the world, what the public is angry at and what the technology is are very different things.

I hope I have “unsaladed things” for you