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Author Topic: Are these new and upcomming blockchains going to need hashrate to secure them?  (Read 365 times)
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April 23, 2016, 02:51:59 AM
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Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

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April 23, 2016, 03:00:25 AM
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Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

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My understanding is that a majority of them, if not all, will not be secured in any way that Bitcoin does.
They are just private computers/nodes storing/transacting within their own private blockchains/ledgers.
It is pretty much pointless IMO, but they haven't figured that part out yet.


I support a decentralized & unregulatable ledger first, with safe scaling over time.
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April 23, 2016, 03:07:24 AM
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Ya my understanding is that you'll need some sort of "power" to move the blockchain taking outputs and using them for inputs for the next block, i mean they are calling all the new chains blockchains.. so something has to be inherited from our blockchain, else how is theirs going to work?

Else how can they "prove" anything..

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April 23, 2016, 03:12:17 AM
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Ya my understanding is that you'll need some sort of "power" to move the blockchain taking outputs and using them for inputs for the next block, i mean they are calling all the new chains blockchains.. so something has to be inherited from our blockchain, else how is theirs going to work?

Else how can they "prove" anything..

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Start here: permissioned blockchain.
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April 23, 2016, 03:40:59 AM
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Topic says it all, all these dime a dozen block chains that are coming out that everyone are creating, will they need computing power/hash rate to secure them from 51% attack like bitcoin does, or am i missing something??

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Not necessarily. For example, proof-of-stake systems don't need this computing power to secure the blockchain.

Sometimes all they are trying to solve is transactional integrity over an unreliable network. In my real job I deal with messages used in financial transactions. Some of these messages need to be routed through multiple parties back and forth for some giant meta-transaction to complete. Blockchain technology would be ideal to ensure that these messages are processed in the correct sequence without duplication.
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