this post was submitted on 09 Mar 2024
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While that is an inherent component of how proof-of-work cryptos work, and utterly stupid, it's not an inherent part of how to do blockchains.
You can have a blockchain without consuming stupid amounts of energy.
Yeah it's called a database....
There aren’t a lot of distributed databases with no single owner and all writes are signed.
Yeah, but not having an owner is actually a fucking terrible thing for a banking system, how do you not grasp this?
No owner is great for a banking system. It stops the owner printing money whenever they feel like it.
Bruh
I do grasp it.
I don’t really know what situation it makes sense for. It seems like a tool for cases where nobody can agree who should own the records of something so now everyone should.
exactly, you have others methods of proof-of-work