Topic: Is it time someone defined "The Blockchain"? - page 2. (Read 904 times)

Soros Shorts

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Quote from: Jet Cash on December 16, 2016, 04:11:48 AM

"blockchain" isn't really a technology, it's just a simple sequential file with linking between adjacent records.

Have you looked in your Bitcoin core data folder? It is not implemented as a sequential file there.

But I do agree that people should realize that Bitcoin is not synonymous as Blockchain. This is obvious from the fact that shit coins also use blockchain technology.

Jet Cash

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People who understand Bitcoin realise that "blockchain" isn't really a technology, it's just a simple sequential file with linking between adjacent records. However, the word seems to have captured the imagination of the public, and there are many who have jumped on an expanded concept to push their own products. There seem to be a lot of people who assume that "The Blockchain" is synonymous with Bitcoin, and this is far from the truth. We constantly see products being publicised with major omissions from the Bitcoin concept. - no proof of work, no cryptography, no distributed ledger, centralised control, no public blockchain access, no significant peer community and many others.

It would appear that "The Blockchain" is here to stay as a descriptive phrase, so how can we get some consensus as to the elements that are basic to the "technology"?

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