Topic: Private blockchains solution? (Read 297 times)
So, how is it considered an altcoin discussion after all?
Companies are adopting the private blockchain solution not because decentralization but because they can't trust other entities they share data with.
Then they should not use blockchain at all. Centralized database with secure encryption is enough. Private blockchain = centralized database with several backups.
But honestly, even if you use private blockchain, in the end you need to share your data with other entities, won't you? How will you do your business if you don't share your data with others? (assuming it is required to do so)
Quote from: aliashraf
a private blockchain/database/whatever can easily be modified by administrator and root level privilege
Companies are adopting the private blockchain solution not because decentralization but because they can't trust other entities they share data with.
Private blockchain is a sales discourse and a hype. It is very common in IT sector, using buzz words for marketing purposes. Corporates and organizations also love this stuff and are happy to pay for it because they can use it in PR material to tell stories about being high tech and avangard.
I guess this is the source of problem, something that should not used word blockchain is getting marketed as blockchain.
My source of knowledge was from IBM Blog
Quote
A private blockchain network requires an invitation and must be validated by either the network starter or by a set of rules put in place by the network starter. Businesses who set up a private blockchain, will generally set up a permissioned network. This places restrictions on who is allowed to participate in the network, and only in certain transactions. Participants need to obtain an invitation or permission to join. The access control mechanism could vary: existing participants could decide future entrants; a regulatory authority could issue licenses for participation; or a consortium could make the decisions instead. Once an entity has joined the network, it will play a role in maintaining the blockchain in a decentralized manner.
But apart from this article, look like everybody conveniently changed the private blockchain definition to their wishes which conform to "neither decentralized nor immutable and not consensus based. " making a joke on blockchain definition.
I don't see any point of using blockchain for private usage, just use distributed and encrypted database which already exist & AFAIK it performs better than blockchain.
Blockchain is supposed to be decentralized ,distributed and immutable .Private blockchain just mean that not everybody can take part in changing or accessing the records, but it still be following all the principles of blockchain with participating nodes.
Database is still not decentralized and immutable.
For decentralization you need free will of participants to decide and reach to a consensus about the state, otherwise it will be all about running multiple instances of same machine. Modern databases have clustering and similar features that support replication and single point of failure resistance, far more efficiently.
For immutability, you need rewrite operations to be high cost in an unfeasible level, a private blockchain/database/whatever can easily be modified by administrator and root level privilege (zero cost) because there is literally no costs involved in doing such a rewrite. A true blockchain is not immutable, it is resistant to mutation because of high costs involved. A private system just can't define any costs for nodes to operate, otherwise they didn't need any license to join.
Private blockchain is a sales discourse and a hype. It is very common in IT sector, using buzz words for marketing purposes. Corporates and organizations also love this stuff and are happy to pay for it because they can use it in PR material to tell stories about being high tech and avangard.
I don't see any point of using blockchain for private usage, just use distributed and encrypted database which already exist & AFAIK it performs better than blockchain.
Blockchain is supposed to be decentralized ,distributed and immutable .Private blockchain just mean that not everybody can take part in changing or accessing the records, but it still be following all the principles of blockchain with participating nodes.
Database is still not decentralized and immutable.
The companies seem to be interested in private blockchains. Therefore an idea - what if to replicate one of major public blockchain and make it into a private blockchain standard solution to sell to businesses. Any thoughts appreciated!
The solution is in coins like Monero or Zcash, if a company clone their blockchains and modify it to work as they want they will have the private or anonymous blockchain solution in their hands.
I think that's the best option.
Private blockchains that most enterprises are adopting is mainly a database with an integrity check and a protocol layer for those that needs write or read access to the database.
Most people wont directly see the benefit of this if its adopted. More of a backend streamlined.
Most people wont directly see the benefit of this if its adopted. More of a backend streamlined.
The companies seem to be interested in private blockchains. Therefore an idea - what if to replicate one of major public blockchain and make it into a private blockchain standard solution to sell to businesses. Any thoughts appreciated!
Why would companies want to buy a 'clone' of a blockchain? They'd rather make their own blockchain from scratch. There are several companies who already run this type of business, as said above, such as Blocko and so on. They make blockchain solution for companies who wanted to do it. Even IBM are playing in this field.
The private blockchain solution allready exist and many companies adopted this solution where nodes join the network by an invitation system.
It is some kind like Internet and Intranet.
It is some kind like Internet and Intranet.
The companies seem to be interested in private blockchains. Therefore an idea - what if to replicate one of major public blockchain and make it into a private blockchain standard solution to sell to businesses. Any thoughts appreciated!
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