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RE: Attention diverted to maintain the status quo

in #thoughts5 years ago

This is the same for the simple ledger that blockchain is, as while it has been around for millennia also, to be able to scale it up to include millions and billions of recorded transactions, technologies are needed.

Blockchain is not a simple ledger. Blockchains are Merkle trees, or hash lists to be exact, and they were invented only in 1979. Making even simple blockchains secure against attacks is not a trivial problem.

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It records transactions for verification. A ledger. Just because the configuration is not in a book, doesn't change anything.

The fact that a blockchain is a list of consecutive blocks each containing a hash of the previous block is key. Such list are called hash lists. They didn't exist prior to 1979. The concept was invented then.

Calculating the hash functions by hand is practically impossible. The whole point of a hash function is that the tiniest change in input produces a noticeable difference in output.

When you called blockchain a simple ledger, that simply wasn't true. You can record a blockchain on paper if you like. What the computers are needed for is not the scaling but computing the hashes, which would be painful to do manually and without hashing, you don't have a blockchain. A blockchain is called a chain because it's a hash list.

Are the tires on your car still classified as wheels?

Yes, but not just any wheel can do their job.

But, still a wheel.

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