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RGBKey
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September 21, 2015, 01:46:18 AM
 #41
IMO even if it's banks that use blockchain technology, it's still good for us because they are using blockchain technology.
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September 21, 2015, 02:44:13 AM
 #42
Centralized blockchain  Huh Do they still need miners and >1 full nodes?
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September 21, 2015, 02:54:18 AM
 #43
Quote from: 7788bitcoin on September 21, 2015, 02:44:13 AM
Centralized blockchain  Huh Do they still need miners and >1 full nodes?

What they need is an immutable ledger between a small number of institutions. More than a database and less than Bitcoin's requirements. It'll be interesting to see what they come up with. One thing we can be sure of is that no mere mortal will be participating in their network.
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September 21, 2015, 03:25:38 AM
 #44
Quote from: zircon on September 16, 2015, 11:43:39 AM
http://recode.net/2015/09/15/nine-of-the-worlds-biggest-banks-form-blockchain-partnership/

From what I read they are considering Bitcoin but also Ethereum.

Thoughts on all of this?

From my brief read on Ethereum it is a public blockchain, you can mine it etc just like Bitcoin.

Proof of work could possibly lead to more decentralisation (ASIC and FPGA not possible/feasible?)





Real physical bank by Blockchain?
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September 21, 2015, 08:54:42 AM
 #45
Quote from: Blawpaw on September 21, 2015, 01:12:34 AM
Quote from: zircon on September 16, 2015, 11:43:39 AM
http://recode.net/2015/09/15/nine-of-the-worlds-biggest-banks-form-blockchain-partnership/

From what I read they are considering Bitcoin but also Ethereum.

Thoughts on all of this?

From my brief read on Ethereum it is a public blockchain, you can mine it etc just like Bitcoin.

Proof of work could possibly lead to more decentralisation (ASIC and FPGA not possible/feasible?)


Proof of work only leads to decentralization if you have a large distribution of the network. as more participants the network has the more the network becomes decentralized...

Yeh I meant - if the PoW algorithm is say, more similar to Litecoin, then ASIC/FPGA is not really possible? Therefor you would have more people all over the world mining instead of making it specialised -

Is the PoW with Ethereum similar to Litecoin? Does the PoW algorithm of Litecoin make it more suitable for decentralisation?
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