Bitcoin Forum

These days there are too many talks about blockchain. So, is blockchain real or hype?

You're question doesn't make any sense. If you're using bitcoin you should know that it's already using the bitcoin blockchain.

its real

but blockchain. is just a stepping stone.
blockchain is just an extra layer ontop of relational databases.

what should be hyped is the end product once they add several programmable features ONTOP of blockchain.

EG bitcoin is atleast 10 layers ontop of 'blockchain'
hyperledger is about 4-6 layers ontop of 'blockchain'

the way i see it. although people think of blockchain as equivalent of the invention of the [financial] wheel.. i personally get excited when that wheel is then used as part of a motorcycle. and see just the wheel as something that is immovable and useless without any musclepower/mechanics behind it.

if your into programming.
its like getting excited back in the day you have been programming in basic. and then see visual basic is released. yea it adds an extra layer of possibility. but until you have programmed something on it. and made a kick ass program.. visual basic just ends up being a tool, and nothing more

There is no question about it, Bitcoin Blockchain is real, something that directly or indirectly engage more than 300,000 people. They hype comes from the marketing side and this is necessary to have wide adoption

Blockchain is massive hype at the moment. A blockchain is just a simple sequential file with a couple of fields to maintain the sequence. I don't believe that it's even relational, the inter-record relationships are established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific, and not a basic component of a blockchain.

I suggest we stop calling it the blockchain, and call it a blocktrain. It's a whole load of carriages pulled by an engine ( the Bitcoin Core).

Lately, there is a considerable debate about the blockchain technology not only by the bitcoin community  but also by banks as well as finance ministers states. The latter announce plans or experimental technology implementations using their centralized private blockchains which has no similarity with the decentralized one bitcoin uses. I think this is the matter the OP referred to saying if blockchain is real or hype.

bitcoin vs blockchain are different things.

bitcoin uses relational data within blocks. to link inputs and outputs.
as you say
"established by the Core software and the wallet as I understand it. SegWit and side chains create some other interesting relationships, but those are Bitcoin specific"

HOW bitcoin uses relational data is more important then saying relational data is possible

but here is the thing.

if you forget bitcoin. and just think about databases
how the relational part is utilised is not defined. it does not need to be about inputs or outputs. it could be social security numbers linking medical records to bank records.

just because RDBMS has relational ability and BRDBMS (blockchain) has the same with a little extra programmability..
does not define how/what/why it is used.

it is just an empty tool. like Microsoft Access version 20xx.. its real.. but not important
until you build it the data and add features and create things.. then the final end product becomes important

i personally dont care when i see people talk about 'blockchain' as thats like a housebuilder talking about a single brick. i prefer to look for the architecture, what they propose as a final design once they have added lots of different materials and bricks together.

so far hyperledger is the concern for bitcoin.. not 'blockchain'

Of course Op it's real, blockchain Bitcoin is use widely by all and I really even fail to understand what kind of question is this. Are you asking about the technology or you are asking for transactions both are real and very active. I am sensing a troll. altert here until you either edit your post or give a reply as to what do you wish us to answer you? Be specific you have kept it really vague.

Well the Blockchain technology helped solve a computer science problem called "The Byzantine Generals' Problem" so I would say the hype is real.

Well first, that has nothiung to do with blockchain concepts, but it is a Bitcoin problem.

I'm not sure it has solved that problem. If you believe that block generation times are too long, but they cannot be reduced because of disruption to the blockchain recording process, and you believe that long transaction confirmation times will lead to a drift away from Bitcoin, then it would appear that the BGP is still present as a problem.

What makes you think blockchain is hype? There is nothing that will make doubt about blockchain being just a hype rather than real thing with real value. Look at marketcap bitcoin have, which is more than 12 billion USD right now which shows the real demand for bitcoin and also you can check big merchants have already started accepting it as way of payment.

The OP was asking about blockchain and not about Bitcoin.

And in your opinion, it seems like a massive delusional.
has built from a lot of pieces. and not a large entity.
What a concern?
"Hyper ledger isn't about bitcoin"  ???

I would say, Bitcoin is real and Blockchain based technologies are just a craze now. The FinTech scene got wind of Bitcoin, but they do not want to

use it. < Due to false/negative  media reporting > So the unemployed so-called Bitcoin experts hyped up the Blockchain technology < Insert

Hearn/Gavin here > to land them a nice job in the Fintech industry.  ::) :P ..... They could have saved themselves a lot of money, and just use BTC

As several users quoted without Blockchain we could never been into the successful and revolutionary creation of bitcoin. Following this technology different digital currencies have got existed. Also in most of the firms Blockchain technology is under trial for future implementation.

I don't know why you post a topic like this, it's makes you look like a newbie here.
Oh sorry, you are a newbie!!
Let's make an answer to your question.
If you believe in bitcoin or any other crypto currencies (specific: if you think bitcoin is real), blockchain is real too.
Blockchain is a technology behind bitcoin.
Keep learn, read more.

Well that is true - without blockchain there would be no Interet, because a web page is transmitted as a sequenced packet stream ie. a blockchain.

what a bullshit question. obviously there is blockchain ,just remember one thing without blockchain there is no bitcoins .there is the history of all the transactions of bitcoins ,well it is real/.

It's real, if it wasn't do you think so many persons would start using bitcoin and pumping it's price to the price we see today?
Bitcoin blockchain technology already exist since some years, if it was only hype, bitcoin would be already dead. Bitcoin is really useful, otherwise we wouldn't see all these persons investing their time and money in bitcoins.

So what do you guys think blockchain is? I don't mean Bitcoin, and I don't mean the software layers superimposed on a blockchain, and of course decentralisation has nothing to do with blockchain.

Yes. Blockchain, a distributed database, is very real.

Sorry blockchain is just a simple sequential file. Just have a look in the directory on your computer, and you will see it.

blockchain is real and i've been on it for 3 years from now and i still.. but somewhy transactions are slow these days

I think is both, but don't forget blockchain is like a platform that you can launch anything on it.
First it was used to launch bitcoin now that is the real part of blockchain for now but others tried to launch altcoins which they are the hype part.

I agreed with you, bitcoin blockchain is totally real. From the blockchain we can see the record update history of the people who tried to get into it in bitcoin world. Which is representing that bitcoin is not a hyping type to anyone. And it is also right that the word "hype" is connected only in marketing side which very normal in all aspect of business.

I assume you are using bitcoin and if you use btc you use the blockchain as well.

Yes,the blockchain is real,i don`t know why you are asking this?

What do you mean by "hype"?

I dont really get the question. Are you saying it is just an imaginary thing that is created by belief?   :D

Blockchain is real. I dont think someone can just create something like that and make it this popular.

i think the OP is asking more in the manner of

is blockchain a real 'final product' or just hyping a tool without understanding the final product the tool can make.

EG
"house bricks" they are going to solve homelessness
=hype. because land, mortar, basic utilities, planning permission, and labour, are all extra layers needed to solve homelessness. a brick is just a tool

bricks are just a single layer tool. not a final product

I think you are correct, and on that basis all the hype about "blockchain" is just bankers trying to create new products that have the same old problems.

If you put a load of bricks in a long line, then you've got a blockchain ( well maybe a blockline), but you haven't got a house.

The blockchain is definite real. The unique features are that it is de-centralized and tamper-proof. This is valuable for financial systems and in a few years we should see massive adoptions.

Yes, a 100% real and totally works perfectly, but this past few weeks there are small problems on transaction, but then people cannot break the record of what blockchain made for their users.

It's real, otherwise we will not reach this big value of price, people trusted bitcoin and they are not dumb as they even develop new currency or tokens in the crypto where it supports bitcoin or integrate bitcoin in their system.

bricks(blocks) are mortared(chained) together.
so a blockchain can be used to make many things.

 but without direction/design you just have a wall or a totem. without utilities and planning it wont be a house.

Everything about it is hype. Most of the banks that claim they will use a private blockchain only needs a shared database for their needs. The developers trying to pitch for those banks to use a "blockchain" are scamming. Banks have no use for a blockchain. If they think they do, use Bitcoin.

a wall is tamper proof, unless the mortar is weak (chaining mechanism)

the mortar can be mined to find a special unique ingrediant per brick(block) (PoW)
or let the labourers sign their brick(block) with their own feacal matter(PoS, PoA)

a wall can be in one location. or copied in many locations to back each other up.
blockchain can protect one database table of results by chaining it to another. thus security its contents from file corruption

but you can also copy that multiple tables in different locations as an extra precaution.
but copying to multiple locations is not a pre-requiest. just an extra option.

it does not need to even be distributed between strangers publicly. it can be distributed within locked systems.

what makes bitcoin special is that bitcoin did not settle for the easiest route. bitcoin added many layers above blockchain to reinforce the data to many levels of magnitude that blockchain alone has.

this is why although there are 1000+ altcoins. all blockchain based.. bitcoin remains the stronger of the many.

blockchain alone is just 'programmable' databases. a slight evolution of old database abilities.

banks DO actually see benefits of this. and benefits of having their own system as oppose to using bitcoin (100% control of the whole thing for instance)

but banks will not need/ use ALL of the extra layer security that bitcoin uses ontop of 'blockchain'

in short.
old banking system.. lets call it 1% secure.. 1% efficient banks want 40% efficient/security gain... yet bitcoin is near 100%
so not as good as bitcoin. but better than the old system.. while having full control of their invention

Blockchains efficient? They are not compared to the databases banks are using now. Blockchains are slow, use too much storage and bandwidth. Also a real blockchain uses Proof of Work which is considered wasteful in the use energy by most people who do not get that it is actually a breakthrough.

We will soon see all these private "blockchain" pitches by different developers to pivot into something else and drop the word "blockchain".

your thinking of bitcoins blockchain. trying to fit bitcoins concept into the banking industry..

wipe your mind of bitcoin and concentrate on underlying blockchain, again without thinking about all the unique bits that separates bitcoin from the other altcoins.

like going back to the design board and opening your mind to design your very own altcoin.

it doesnt need to be all data on every node(bitcoin) or all data on one server(banking).. it can be inbetween aswell

EG a texas sidechain where all the banks in texas reinforced each other. california have a different sidechain where all the banks in california reinforced each other

imagine each block is not hashed by PoW with a 10 minute target. but instead signed by xx regional hubs/bank branches in a split second.

imagine it like live data is instantly signed off as soon as its altered. and this continues on for a month. then at the end of the month. its locked for good, as historirc record. and then a new block copy is opened up to then change live. like a monthly statement of locked historic blocks and a live block ontop that is the 'current balance block'
making the live active block (much like mempool/LN) editable until its locked. but trusted available balance due to instant multisig signing

imaging instead of one central server hosting every bank account data, there was instead a bank branch that had its own account holders (sidechain) where they all inter-communicate between sidechains, like the same way routing numbers /sort codes recognise which HQ server to address for particular banking customers. but this time the data is distributed into hubs/regions/clusters/sidechains.

once you wipe your mind of bitcoin and see how loose the term blockchain is. you realise blockchain alone is just an empty tool. but is a tool that can do some very funky and unthought about things

Blockchain is real and its not a hype since as we can see on bitcoin it uses blockchain to make transactions. Blockchain serves as a medium or a backbone on bitcoin or any other crypto which uses it because transactions will takes place. If theres no blockchain then there would be no bitcoin at the first place.

blockchain is very real not an hype...i love blockchain and i use it always and trusted....

I can see that people are not prepared to think about Bitcoin and blockchain. So I guess that "The Blockchain" is going to stay in common parlance. I assume it will be similar to "motor vehicle" this describes a massive range of transport devices. I guess the blockchain is similar to an interconnected string of flat platforms. They only become useful when a load of extras are added to them. For example, they need to have wheels, skids, hulls or tracks added for them to become mobile, and then they ned an engine to pull or push them. Adding carriages or boxes on top of the platforms means that they can become a safer means of transport. Blockchains are just the platforms and the rope tying them together. The application "software" turns the not very useful load of scrap into an advanced transport medium.

Blockchain is real thing that's why real tech companies like IBM has announced to go fully in blockchain. Some of the biggest financial institutions already have invested in blockchain tech. All these talks and investments indicate one thing that there isn't just hype and some real thing is existing in blockchain to take it to its best in future.

They aren't investing in blockchain technology. They are investing in propietary software, or modifying open source software, and hyping it up using a word that describes a very simple computing concept that has been around since the 1960s.

Blockchain is something real, as you probably already saw, but that's true that there is some kind of hype about putting everything on the blockchain.

There will be always blockchain included when there is somekind of problem on bitcoin since blockchain is where bitcoin network relies. And most known problem would transaction delays from which is due to web traffic on blockchain.

If you are a bitcoiner, you must know that. Of course its real. Why do you think, that so many people are using bitcoin. Its real of course. Thats the reason people are starting to adopt bitcoin/blockchain technology, they have understood its potential to some extent and can see that it has a future.

Yes, bitcoin is 100% real, just having trouble now because there are lots of transaction around that made it slow. I guess OP is looking for good site better than  block chain, because blockchain is well known compared to others.

What the hell kind of stupid question is this? Is an online ledger real? Um ya. It's real. What the hell? This isn't Jesus or the toothfairy, you can't just not believe in it hahahahahaha.

Of course it is real. With its unique features such as tamper proof, de-centralized and transparent, it finds it way into the financial and retailer sectors in big time. In a few years many payment systems will be based on blockchain.

Yes, every bitcoin transaction was processed by blockchain.
It is the main bitcoin wallet.
I found blockchain as safest bitcoin because of its security. The best features in this wallet is the SMF code needed everytime you will log in on their web to lessen the risk of being hacked.
Although it has a fee, it is not so expensive so I think blockchain is the best of all.

Then herein lies the real problem. Ask the banks what their definition of "blockchain" is and you realize and question if that is really a "blockchain" because the Satoshi definition is mostly the one for most of us. Before Bitcoin, did anyone really use the term "blockchain"?

If their definition of a blockchain, is a chain of blocks linked together then would that be enough to be called a "blockchain"? I think the breakthrough which is Proof of Word should always be there and should be inserted in that definition.

If I understand it well, that's the most ridiculous thing I ever read in this forum, no, maybe it's the second or the third one... a real or hype? What do mean with hype? There are lotta money and lotta serious people involved on it. It's not a game, not a bubble, not a scam, not a HYPE, it's extremely serious business... have you read some threads before post this one? I might no, because this forum (even with the mountain of suckers) have some REAL commited people working in and with the Blockchain. Respect the system, it will be in your future and you'll remember the dumb time when you wrote this thread... so bro, I'm really offended with people who have newbie profile and touches a so serious content just to bump threads or count post/activity...

no
satoshi was talking about blockchain in the full context of bitcoin. because the topic he was talking about was bitcoin. he never really thought much about altcoins back in the first days, so was not talking about blockchain as just a separate topic

bitcoin is a patchwork quilt of many many things brought together. which makes bitcoin special. but blockchain and bitcoin are not on the same level. blockchain is a base level template. that needs building on

sha256 was a breakthrough in 2001
cryptographic signatures (ecdsa) was a breakthrough in 1999
proof of work was a breakthrough in 1997...
ripemd was a breakthrough in 1995

i could go on.

if you want to start saying blockchain has certain things as a prerequisite.. then you start getting into deeper questions like

if PoW is a prerequisite. then PoS coins are not blockchains?
or
if PoW is a prerequisite. then you cant leave PoW details blank otherwise its an empty gesture/useless to have included PoW as a prerequisite
if PoW is a prerequisite. then what PoW .. MD5 hashed, sha1, sha2, sha3.
if PoW is a prerequisite. then once you answer the detail of the hash required you then have to answer what length nonce is needed.
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length required you then have to answer difficulty mechanism is needed
if PoW is a prerequisite. then once you answer the detail of the hash&nonce length& difficulty required you then have to answer difficulty retarget period.

yep. by saying PoW is needed you then start tumbling down a hill of creating an altcoin by having to get specific purely to even say PoW is needed because PoW needs prerequisites

however blockchain is a blank template. where it can go in any direction.. PoW, PoS PoA, etc. the data within the blocks can be anything. the timing of the blocks can be anything. distribution variation, diversity. etc etc etc

I agree,it's real as can be.Blockchain is the structure of BTC and it's vital for BTC because without it the whole validating process wouldn't be possible.So BTC relies on it and it is one of the most important things when it comes to BTC,the mining and the sending and receiving money need to be controlled and that's super important because BTC is defined by them and it will continue to be.

Oh! come on guys - it's obvious that blockchain is marketing hype. It's a load of bankers and others trying to push their products by trying to associate it with Bitcoin. It's a great sadness that they are obviously managing to use the blockchain to give some credibility to their lesser products. We should be trying to educate the public rather than helping them to diminish the concept of Bitcoin.

If you don't know the difference between the blockchain and Bitcoin, then you should read some of the information post on this forum.

Blockchain without bitcoin was always a hype, and will only remain a hype, the only exciting stuff being developed is happening in the bitcoin ecosystem, outside of the bitcoin blockchain, you can find exciting sidechain projects, and maybe some altcoins, but no one that isnt a total idiot would get excited about the so called amazing advancements of the banking industry via blockchain technology.

of course it is. blockchain is a database you cannot see.
probably you are confused to keep it on your mind or you are asking another stuff, but you are confused on using appropriate word?

anyway the words "real" and "hype" are cannot be compared. they are totally different.

blockchain is holding so many bitcoin transactions so we can say that blockchain is real and it is a public ledger of all bitcoin transactions and it is the only one that helps us process whether we are sending or we are about to receive and it also helps bitcoin to innovate so without we can not be able to use bitcoin .

Bitcoin showed the world what block chain can do. Moving forward we can see new applications of blockchain and it will make life lot easier and bring in more innovations. I think their hype is justified and we can see a bright future for blockchain.

Ok I get your point. But I still do not get how a "blockchain" is more efficient and faster than the legacy systems they have right now like SWIFT. If you or someone can explain to me if there is a need for and how a "blockchain" or let us just call it distributed databases can make their systems more efficient and faster, I would be happy to listen. My whole point with my argument is banks do not need a "blockchain". It is only a buzzword used because Bitcoin is getting more popular.