Are these new and upcomming blockchains going to need hashrate to secure them?

Soros Shorts

donator

Activity: 1617

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Quote from: Icon on April 22, 2016, 09:51:59 PM

Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

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Not necessarily. For example, proof-of-stake systems don't need this computing power to secure the blockchain.

Sometimes all they are trying to solve is transactional integrity over an unreliable network. In my real job I deal with messages used in financial transactions. Some of these messages need to be routed through multiple parties back and forth for some giant meta-transaction to complete. Blockchain technology would be ideal to ensure that these messages are processed in the correct sequence without duplication.

whored

newbie

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Quote from: Icon on April 22, 2016, 10:07:24 PM

Ya my understanding is that you'll need some sort of "power" to move the blockchain taking outputs and using them for inputs for the next block, i mean they are calling all the new chains blockchains.. so something has to be inherited from our blockchain, else how is theirs going to work?

Else how can they "prove" anything..

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Start here: permissioned blockchain.

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hero member

Activity: 821

Merit: 503

Ya my understanding is that you'll need some sort of "power" to move the blockchain taking outputs and using them for inputs for the next block, i mean they are calling all the new chains blockchains.. so something has to be inherited from our blockchain, else how is theirs going to work?

Else how can they "prove" anything..

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AgentofCoin

legendary

Activity: 1092

Merit: 1001

Quote from: Icon on April 22, 2016, 09:51:59 PM

Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

Icon

My understanding is that a majority of them, if not all, will not be secured in any way that Bitcoin does.
They are just private computers/nodes storing/transacting within their own private blockchains/ledgers.
It is pretty much pointless IMO, but they haven't figured that part out yet.

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hero member

Activity: 821

Merit: 503

Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

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Topic: Are these new and upcomming blockchains going to need hashrate to secure them? (Read 383 times)